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: Hyperliquid against MEXC−0.117%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

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

Long on MEXC Short on Hyperliquid

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: Hyperliquid is 0.040% dearer against MEXC than usual: you sell high and buy low, +$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	MEXC FOGO_USDT	0.006840	0.0100	pay 0.0050% / 4h	8m 38s	$326K	$125K	50x
Short	Hyperliquid FOGO	0.006832	0.0100	get 0.0013% / 1h	8m 38s	$711K	$306K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now −0.117%Rate

Funding earned: $0
Price spread: −0.117% → −0.157%: $4.02
Slippage, 4 orders: −$67.16
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$76.13
Costs to cover: 0.802%
Break-even: never at this rate

Slippage from MEXC: live order book, 52 min ago; Hyperliquid: live order book, 61 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 MEXC live order book, 52 min ago	1.47 bp	13.2 bp −$13	51.4 bp −$514	229.9 bp −$23.0K	doesn't fit
Sell Hyperliquid live order book, 61 min ago	2.22 bp	23.3 bp −$23	doesn't fit	doesn't fit	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	+0.132%	$11K	$11K	3x	as long as short
Hyperliquid FOGOshort	+0.0100%	1h	0.006832	−0.117%	$711K	$306K	3x
Aster FOGOUSDT	+0.0100%	4h	0.006839	−0.008%	$12K	$13K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006841	+0.019%	$1.8M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006829	−0.161%	$754K	$182K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006826	−0.205%	$514K	$807K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006830	−0.146%	$109K	$47K	50x	as long as short
MEXC FOGO_USDTlong	+0.0100%	4h	0.006840	long leg	$326K	$125K	50x
KuCoin FOGOUSDTM	+0.0100%	4h	0.006840	0.000%	$283K	$93K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006830	−0.146%	$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	−0.117%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006826	−0.212%	$96K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006830	−0.146%	$1K	$1.2M	20x	as long as short