Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.001%

Price spread now: BloFin against ApeX Omni−0.292%7-day average +0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs−$667as in the Funding arb table

Net, price: spread back to 7d avg − costs−$703as in the Price arb table

costs, in and out, $10k−$6626.620% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.982%+$98 · spread now −0.292%, 7d avg +0.123%

Together, before fees+0.928%+$93 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.415% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.292% now, against its 7-day average of +0.123%). If the spread goes back, that is −$41 on $10k: about 36 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METUSDT	0.2740	0.0100	pay 0.0013% / 1h	54m 27s	$34K	$120K	50x
Short	BloFin MET-USDT	0.2732	0.0138	get 0.0069% / 4h	1h 54m	$273K	$93K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee BloFinbpOrdersPrice spread, now −0.292%Rate

Funding earned: $7.99
Price spread: −0.292% → +0.123%: −$41.5
Slippage, 4 orders: −$639.98
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$695.48
Costs to cover: 6.620%
Break-even: 616.0 days

Slippage from ApeX Omni: live order book, 51 min ago; BloFin: live order book, 30 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy ApeX Omni live order book, 51 min ago	18.27 bp	301.6 bp −$302	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 30 min ago	3.69 bp	14.3 bp −$14	60.8 bp −$608	doesn't fit	doesn't fit

MET on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX MET/USD [WBTC.b-USDC]	L −0.0738% / S +0.0214%	1h	0.2727	−0.457%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2744	+0.131%	$13K	$14K	5x	as long as short
Bybit METUSDT	+0.0053%	4h	0.2727	−0.493%	$4.7M	$3.2M	25x	as long as short
Lighter MET	+0.0096%	1h	0.2736	−0.142%	$168K	$427K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2727	−0.467%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2727	−0.460%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2726	−0.511%	$4.6M	$12.7M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2728	−0.438%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2729	−0.401%	$170K	$194K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2726	−0.511%	$839K	$289K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2730	−0.365%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2734	−0.219%	$687K	$961K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2732	−0.277%	$308K	$281K	5x	as long as short
ApeX Omni METUSDTlong	+0.0100%	1h	0.2740	long leg	$34K	$120K	50x
SunX MET-USDT	+0.0100%	4h	0.2727	−0.474%	$2K	$1.6M	20x	as long as short
BloFin MET-USDTshort	+0.0138%	4h	0.2732	−0.292%	$273K	$93K	50x