Funding arb · Price arb /

MTL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h −0.279%

Price spread now: Aster against Bybit+0.155%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.155% dearer against Bybit than usual: you sell high and buy low (spread +0.155% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MTLUSDT	0.3137	0.0100	pay 0.0100% / 8h	4h 45m	$1.1M	$963K	25x
Short	Aster MTLUSDT	0.3142	0.0002	get 0.0000% / 1h	45m 58s	$2K	$8K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.155%Rate

Funding earned: −$20.68
Price spread: +0.155% → 0.000%: $15.51
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$24.17
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Aster: 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 Bybit live order book, 5 min ago	3.18 bp	45.8 bp −$46	1287.9 bp −$12.9K	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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.

MTL on 9 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
BloFin MTL-USDT	−0.0600%	4h	0.3146	+0.287%	$114K	$7K	50x	as long as short
MEXC MTL_USDT	−0.0572%	4h	0.3147	+0.319%	$290K	$135K	50x	as long as short
Binance MTLUSDT	−0.0563%	4h	0.3148	+0.346%	$1.7M	$4.8M	50x	as long as short
BingX MTL-USDT	−0.0538%	4h	0.3140	+0.096%	—	$1.3M	—	as long as short
Bitget MTLUSDT	−0.0158%	4h	0.3143	+0.191%	$343K	$115K	25x	as long as short
Aster MTLUSDTshort	+0.0002%	1h	0.3142	+0.155%	$2K	$8K	5x
Bybit MTLUSDTlong	+0.0100%	8h	0.3137	long leg	$1.1M	$963K	25x
Gate MTL_USDT	+0.0100%	4h	0.3141	+0.128%	$156K	$64K	25x	as long as short
KuCoin MTLUSDTM	+0.0100%	4h	0.3148	+0.351%	$664K	$22K	30x	as long as short