Funding arb · Price arb /

GRIFFAIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0856%/8h= −93.7% APRpaid last 24h −0.167%

Price spread now: Hyperliquid against MEXC+0.116%7-day average +0.095% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.607%−$61 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now +0.116%, 7d avg +0.095%

Together, before fees−0.437%+ Points / potential airdropHyperliquid: Season 2 · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.021% dearer against MEXC than usual: you sell high and buy low (spread +0.116% now, against its 7-day average of +0.095%): +$2 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.607% in total) that is about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC GRIFFAIN_USDT	0.01547	0.1116	pay 0.0558% / 4h	3h 41m	$305K	$112K	100x
Short	Hyperliquid GRIFFAIN	0.01549	0.0260	get 0.0032% / 1h	41m 23s	$1.2M	$97K	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

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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 +0.116%Rate

Funding earned: −$179.76
Price spread: +0.116% → +0.095%: $2.09
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$190.67
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 14 min ago; Hyperliquid: live order book, 9 min ago. Net counts fees only.

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, 14 min ago	6.47 bp	16.7 bp −$17	78.8 bp −$788	554.8 bp −$55.5K	doesn't fit
Sell Hyperliquid live order book, 9 min ago	7.11 bp	39.2 bp −$39	doesn't fit	doesn't fit	doesn't fit

GRIFFAIN on 12 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
Reya GRIFFAINRUSDPERP	0.0000%	1h	0.01177	−23.913%	—	—	—	as long as short
Bybit GRIFFAINUSDT	+0.0100%	4h	0.01549	+0.142%	$731K	$401K	25x	as long as short
Gate GRIFFAIN_USDT	+0.0100%	4h	0.01545	−0.116%	$424K	$81K	10x	as long as short
KuCoin GRIFFAINUSDTM	+0.0100%	4h	0.01543	−0.259%	$486K	$49K	20x	as long as short
Hyperliquid GRIFFAINshort	+0.0260%	1h	0.01549	+0.116%	$1.2M	$97K	3x
Bitget GRIFFAINUSDT	+0.0994%	4h	0.01547	0.000%	$365K	$252K	10x	as long as short
BingX GRIFFAIN-USDT	+0.1052%	4h	0.01549	+0.123%	—	$6.6M	—	as long as short
BloFin GRIFFAIN-USDT	+0.1076%	4h	0.01548	+0.090%	$273K	$11K	20x	as long as short
Binance GRIFFAINUSDT	+0.1114%	4h	0.01548	+0.079%	$4.2M	$1.7M	20x	as long as short
MEXC GRIFFAIN_USDTlong	+0.1116%	4h	0.01547	long leg	$305K	$112K	100x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GRIFFAINUSDT	+0.1265%	4h	0.01545	−0.097%	$15K	$31K	5x	as long as short
Kraken Futures PF_GRIFFAINUSD	+1.8873%	1h	0.01555	+0.547%	$17K	$26K	10x	as long as short