Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: MEXC against Hyperliquid+0.117%7-day average +0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$800.802% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.075%+$7 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.117%, 7d avg +0.157%

Together, before fees+0.024%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 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: MEXC is 0.040% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.157%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid FOGO	0.006832	0.0100	pay 0.0013% / 1h	8m 39s	$711K	$306K	3x
Short	MEXC FOGO_USDT	0.006840	0.0100	get 0.0050% / 4h	8m 39s	$326K	$125K	50x

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 +0.117%Rate

Funding earned: $0
Price spread: +0.117% → +0.157%: −$4.01
Slippage, 4 orders: −$67.16
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$84.17
Costs to cover: 0.802%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 61 min ago; MEXC: live order book, 52 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, 61 min ago	2.22 bp	28.1 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 52 min ago	1.47 bp	15.6 bp −$16	46.4 bp −$464	229.8 bp −$23.0K	doesn't fit

FOGO on 13 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
Lighter FOGO	+0.0096%	1h	0.006849	+0.249%	$11K	$11K	3x	as long as short
Hyperliquid FOGOlong	+0.0100%	1h	0.006832	long leg	$711K	$306K	3x
Aster FOGOUSDT	+0.0100%	4h	0.006839	+0.109%	$12K	$13K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006841	+0.136%	$1.8M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006829	−0.044%	$754K	$182K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006826	−0.088%	$514K	$807K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006830	−0.029%	$109K	$47K	50x	as long as short
MEXC FOGO_USDTshort	+0.0100%	4h	0.006840	+0.117%	$326K	$125K	50x
KuCoin FOGOUSDTM	+0.0100%	4h	0.006840	+0.117%	$283K	$93K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006830	−0.029%	$127K	$100K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006832	0.000%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006826	−0.095%	$96K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006830	−0.029%	$1K	$1.2M	20x	as long as short