Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Hyperliquid against ApeX Omni+0.180%7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$696as in the Funding arb table

Net, price: spread back to 7d avg − costs−$682as in the Price arb table

costs, in and out, $10k−$6856.849% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.107%−$11 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.180%, 7d avg +0.155%

Together, before fees−0.173%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.026% dearer against ApeX Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.155%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METUSDT	0.2771	0.0100	pay 0.0013% / 1h	36m 50s	$35K	$117K	50x
Short	Hyperliquid MET	0.2776	0.0100	get 0.0013% / 1h	36m 50s	$3.8M	$1.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.180%Rate

Funding earned: $0
Price spread: +0.180% → +0.155%: $2.59
Slippage, 4 orders: −$665.91
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$682.32
Costs to cover: 6.849%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 24 min ago; Hyperliquid: live order book, 5 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, 24 min ago	37.89 bp	318.2 bp −$318	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	1.99 bp	17.5 bp −$17	doesn't fit	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 −0.0483% / S +0.0171%	1h	0.2775	+0.145%	$4K	—	50x	as long as short
Bybit METUSDT	+0.0086%	4h	0.2773	+0.069%	$4.8M	$3.2M	25x	as long as short
Lighter MET	+0.0096%	1h	0.2776	+0.184%	$168K	$422K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2776	+0.180%	$3.8M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2776	+0.171%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2776	+0.174%	$4.8M	$12.2M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2778	+0.253%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2775	+0.144%	$179K	$174K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2775	+0.144%	$927K	$281K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2775	+0.144%	$1.3M	$2.6M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METUSDT	+0.0100%	4h	0.2774	+0.108%	$650K	$890K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2778	+0.260%	$313K	$311K	5x	as long as short
ApeX Omni METUSDTlong	+0.0100%	1h	0.2771	long leg	$35K	$117K	50x
SunX MET-USDT	+0.0100%	4h	0.2775	+0.144%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0143%	4h	0.2767	−0.144%	$284K	$89K	50x	as long as short
Phoenix MET	+0.0173%	1h	0.2775	+0.155%	$14K	$15K	5x	as long as short