Funding arb · Price arb /

AR

all AR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.024%

Price spread now: MEXC against Hyperliquid−0.198%7-day average −0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.157%−$16 on $10k

Price spread, last 7 days+0.073%+$7 · spread now −0.198%, 7d avg −0.131%

Together, before fees−0.085%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and MEXC is 0.068% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.131%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.6412	0.0100	pay 0.0013% / 1h	21m 14s	$4.3M	$4.7M	5x
Short	MEXC AR_USDT	4.6320	0.0005	get 0.0005% / 8h	7h 21m	$6.7M	$4.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hyperliquid. 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.198%Rate

Funding earned: −$19.95
Price spread: −0.198% → −0.131%: −$6.76
Slippage, 4 orders: −$23.92
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$63.62
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; MEXC: live order book, 1 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 Hyperliquid live order book, 11 min ago	6.61 bp	14.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.08 bp	3.1 bp −$3	17.9 bp −$179	202.5 bp −$20.2K	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSD	−0.2383%	1h	4.6346	−0.141%	$53K	$135K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.6385	−0.059%	$596K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0140%	8h	4.6310	−0.220%	$2.4M	$20.1M	20x	as long as short
Binance ARUSDT	+0.0005%	8h	4.6310	−0.220%	$9.3M	$53.5M	75x	as long as short
MEXC AR_USDTshort	+0.0005%	8h	4.6320	−0.198%	$6.7M	$4.4M	100x
Extended AR-USD	+0.0008%	1h	4.6330	−0.176%	$38K	$260K	10x	as long as short
BloFin AR-USDT	+0.0019%	8h	4.6350	−0.134%	$443K	$560K	20x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−1.491%	$3K	$239	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.6412	long leg	$4.3M	$4.7M	5x
Aster ARUSDT	+0.0100%	8h	4.6356	−0.120%	$21K	$510K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ARUSDT	+0.0100%	8h	4.6315	−0.209%	$4.7M	$8.5M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.6370	−0.090%	$2.6M	$2.2M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.6370	−0.090%	$1.5M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.6380	−0.069%	$4.0M	$5.4M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.6320	−0.198%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.6322	−0.193%	$144K	$170K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.6440	+0.060%	$23K	$741K	50x	as long as short