Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0150%/8h= +16.4% APRpaid last 24h +0.247%

Price spread now: Binance against GMX+0.064%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 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 for this trade now. Funding pays +$4 a day on $10k at the current rate, and Binance is 0.064% dearer against GMX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2892	L −0.0050% / S +0.0185%	get 0.0006% / 1h	57m 02s	$9K	—	50x
Short	Binance METUSDT	0.2894	0.0100	get 0.0050% / 4h	1h 57m	$5.0M	$12.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.064%Rate

Funding earned: $31.42
Price spread: +0.064% → 0.000%: $6.43
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $15.85
Costs to cover: 0.220%
Break-even: 3.5 days

Slippage unknown: GMX: no order-book sample; Binance: live order book, 6 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	1.73 bp	17.3 bp −$17	83.3 bp −$833	doesn't fit	doesn't fit

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 exchanges

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
Phoenix MET	−0.0339%	1h	0.2895	+0.122%	$14K	$13K	5x	as long as short
GMX MET/USD [WBTC.b-USDC]long	L −0.0050% / S +0.0185%	1h	0.2892	long leg	$9K	—	50x
Lighter MET	+0.0096%	1h	0.2895	+0.102%	$176K	$432K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2894	+0.088%	$3.8M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2895	+0.090%	$54K	$13K	5x	as long as short
Binance METUSDTshort	+0.0100%	4h	0.2894	+0.064%	$5.0M	$12.5M	50x
Bybit METUSDT	+0.0100%	4h	0.2890	−0.068%	$5.0M	$3.2M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2893	+0.036%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2889	−0.102%	$186K	$165K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2891	−0.033%	$942K	$312K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2891	−0.033%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2894	+0.071%	$722K	$815K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2891	−0.033%	$38K	$115K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2892	+0.001%	$2K	$1.5M	20x	as long as short
BloFin MET-USDT	+0.0154%	4h	0.2902	+0.347%	$299K	$126K	50x	as long as short
Backpack MET_USDC_PERP	+0.0230%	1h	0.2893	+0.039%	$328K	$243K	5x	as long as short