Funding you earn now, next payment 02:00 UTC−0.0518%/8h= −56.7% APRpaid last 24h −0.075%
Price spread now: MEXC against Hyperliquid−0.151%7-day average −0.180% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$610.607% of the position
Funding, last 7 days−0.173%−$17 on $10k
+Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.151%, 7d avg −0.180%
=Together, before fees−0.207%+ Points / potential airdropHyperliquid: Season 2 · farm board−$21 on $10k · with fees, hour by hour
The price spread pays, funding is against you. MEXC is 0.028% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.151% now, against its 7-day average of −0.180%): +$3 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.173% in total) that is about 28 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.173% in total (about -9.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid GMX | 8.0552 | 0.0618 | pay 0.0077% / 1h | 8m 15s | $903K | $157K | 3x |
| Short | MEXC GMX_USDT | 8.0430 | 0.0100 | get 0.0100% / 8h | 6h 08m | $378K | $181K | 125x |
Hyperliquid GMX
MEXC GMX_USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$108.68
- Price spread: −0.151% → −0.180%
- $2.83
- Slippage, 4 orders
- −$47.66
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$166.51
- Costs to cover
- 0.607%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 42 min ago; MEXC: live order book, 42 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, 42 min ago | 0.68 bp | 26.0 bp −$26 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 42 min ago | 1.24 bp | 9.7 bp −$10 | 120.1 bp −$1,201 | 294.5 bp −$29.4K | doesn't fit |
GMX on 14 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective GMX/USDC PERP | −0.5000% | 1h | 7.5800 | −5.899% | $4K | $4K | 5.5x | as long as short |
| Kraken Futures PF_GMXUSD | −0.0548% | 1h | 8.0391 | −0.199% | $33K | $600 | 10x | as long as short |
| Binance GMXUSDT | +0.0100% | 8h | 8.0430 | −0.151% | $2.3M | $1.9M | 50x | as long as short |
| Bybit GMXUSDT | +0.0100% | 8h | 8.0390 | −0.201% | $839K | $253K | 20x | as long as short |
| OKX GMX-USDT-SWAP | +0.0100% | 8h | 8.0400 | −0.189% | $296K | $520K | 20x | as long as short |
| Gate GMX_USDT | +0.0100% | 8h | 8.0500 | −0.065% | $198K | $78K | 33x | as long as short |
| MEXC GMX_USDTshort | +0.0100% | 8h | 8.0430 | −0.151% | $378K | $181K | 125x | |
| KuCoin GMXUSDTM | +0.0100% | 8h | 8.0620 | +0.084% | $182K | $31K | 30x | as long as short |
| Bitget GMXUSDT | +0.0100% | 8h | 8.0290 | −0.325% | $404K | $207K | 50x | as long as short |
| BingX GMX-USDT | +0.0100% | 8h | 8.0400 | −0.189% | — | $2.3M | — | as long as short |
Injective GMX/USDC PERP
Kraken Futures PF_GMXUSD
Binance GMXUSDT
Bybit GMXUSDT
OKX GMX-USDT-SWAP
Gate GMX_USDT
KuCoin GMXUSDTM
Bitget GMXUSDT
BingX GMX-USDTShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni GMX | +0.0100% | 8h | 8.0521 | −0.039% | $21K | $54K | — | as long as short |
| GMX GMX/USD [GMX-USDC] | L +0.0417% / S −0.0141% | 1h | 8.0301 | −0.311% | $393K | — | 100x | as long as short |
| Lighter GMX | +0.0568% | 1h | 8.0589 | +0.046% | $76K | $92K | 5x | as long as short |
| Hyperliquid GMXlong | +0.0618% | 1h | 8.0552 | long leg | $903K | $157K | 3x |
Variational Omni GMX
GMX GMX/USD [GMX-USDC]
Lighter GMX