MET

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0433%/8h= −47.4% APRnext payment −$0.54 per $10,000 · paid last 24h −0.082%

Price spread now: GMX against Backpack−0.091%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and GMX is 0.091% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MET_USDC_PERP	0.2842	0.0235	pay 0.0029% / 1h	20m 58s	$332K	$252K	5x
Short	GMX MET/USD [WBTC.b-USDC]	0.2839	L −0.1251% / S +0.0197%	pay 0.0025% / 1h	20m 58s	$10K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Backpack. 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 BackpackbpFee GMXbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$90.87
Price spread: −0.091% → 0.000%: −$9.11
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$121.98
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 3 min ago; GMX: no order-book sample. Net counts fees only.

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 Backpack live order book, 3 min ago	2.12 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]short	L −0.1251% / S +0.0197%	1h	0.2839	−0.091%	$10K	—	50x
Phoenix MET	−0.0197%	1h	0.2839	−0.088%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0041%	4h	0.2842	+0.018%	$290K	$81K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2840	−0.060%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2841	−0.034%	$53K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2839	−0.088%	$5.0M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2838	−0.123%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2839	−0.088%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2837	−0.158%	$194K	$195K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2839	−0.088%	$935K	$260K	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	0.2838	−0.123%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2840	−0.053%	$667K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2833	−0.299%	$37K	$110K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2839	−0.088%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0112%	1h	0.2844	+0.081%	$262K	$243K	5x	as long as short
Backpack MET_USDC_PERPlong	+0.0235%	1h	0.2842	long leg	$332K	$252K	5x