Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bybit−0.180%7-day average −0.130% · you buy dearer than you sell

Net, funding: paid 7d − costs−$723as in the Funding arb table

Net, price: spread back to 7d avg − costs−$739as in the Price arb table

costs, in and out, $10k−$7347.337% of the position

Long on Bybit Short on ApeX Omni

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)+0.071%+$7 · spread now −0.180%, 7d avg −0.130%

Together, before fees+0.178%+$18 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: ApeX Omni is 0.050% cheaper against Bybit than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METUSDT	0.2781	0.0100	pay 0.0050% / 4h	3h 20m	$4.8M	$3.1M	25x
Short	ApeX Omni METUSDT	0.2776	0.0100	get 0.0013% / 1h	20m 43s	$35K	$118K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.180%Rate

Funding earned: $0
Price spread: −0.180% → −0.130%: −$5.02
Slippage, 4 orders: −$712.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$738.68
Costs to cover: 7.337%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: 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 Bybit live order book, 2 min ago	5.41 bp	36.8 bp −$37	286.6 bp −$2,866	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 30 min ago	37.67 bp	340.3 bp −$340	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 −0.0498% / S +0.0175%	1h	0.2783	+0.059%	$4K	—	50x	as long as short
Phoenix MET	−0.0029%	1h	0.2778	−0.101%	$14K	$15K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2784	+0.104%	$168K	$423K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2781	+0.012%	$3.7M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2783	+0.074%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2780	−0.036%	$4.8M	$12.1M	50x	as long as short
Bybit METUSDTlong	+0.0100%	4h	0.2781	long leg	$4.8M	$3.1M	25x
OKX MET-USDT-SWAP	+0.0100%	4h	0.2783	+0.072%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2780	−0.036%	$181K	$173K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2781	0.000%	$934K	$281K	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	0.2782	+0.036%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2784	+0.108%	$665K	$863K	25x	as long as short
ApeX Omni METUSDTshort	+0.0100%	1h	0.2776	−0.180%	$35K	$118K	50x
SunX MET-USDT	+0.0100%	4h	0.2782	+0.036%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0119%	4h	0.2779	−0.072%	$283K	$87K	50x	as long as short
Backpack MET_USDC_PERP	+0.0209%	1h	0.2784	+0.097%	$317K	$269K	5x	as long as short