Funding arb · Price arb /

MTL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.230%

Price spread now: Bitget against Bybit+0.255%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$395as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1901.897% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−2.056%−$206 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.255%, 7d avg −0.020%

Together, before fees−2.137%−$214 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.275% dearer against Bybit than usual: you sell high and buy low (spread +0.255% now, against its 7-day average of −0.020%): +$28 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 7 days (−2.056% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MTLUSDT	0.3136	0.0100	pay 0.0100% / 8h	4h 45m	$1.1M	$963K	25x
Short	Bitget MTLUSDT	0.3144	−0.0152	pay 0.0076% / 4h	45m 11s	$343K	$115K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.255%Rate

Funding earned: −$52.92
Price spread: +0.255% → −0.020%: $27.51
Slippage, 4 orders: −$166.65
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$215.07
Costs to cover: 1.897%
Break-even: never at this rate

Slippage from Bybit: live order book, just now; Bitget: 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 Bybit live order book, just now	3.19 bp	47.8 bp −$48	1080.9 bp −$10.8K	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.18 bp	46.5 bp −$46	328.5 bp −$3,285	doesn't fit	doesn't fit

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	−0.0588%	4h	0.3150	+0.446%	$114K	$7K	50x	as long as short
MEXC MTL_USDT	−0.0562%	4h	0.3147	+0.351%	$290K	$135K	50x	as long as short
Binance MTLUSDT	−0.0552%	4h	0.3146	+0.319%	$1.7M	$4.8M	50x	as long as short
BingX MTL-USDT	−0.0538%	4h	0.3140	+0.128%	—	$1.3M	—	as long as short
Bitget MTLUSDTshort	−0.0152%	4h	0.3144	+0.255%	$343K	$115K	25x
Aster MTLUSDT	+0.0030%	1h	0.3142	+0.205%	$2K	$8K	5x	as long as short
Bybit MTLUSDTlong	+0.0100%	8h	0.3136	long leg	$1.1M	$963K	25x
Gate MTL_USDT	+0.0100%	4h	0.3146	+0.319%	$156K	$64K	25x	as long as short
KuCoin MTLUSDTM	+0.0100%	4h	0.3148	+0.383%	$664K	$22K	30x	as long as short