Funding you earn now, next payment 22:00 UTC−0.0842%/8h= −92.2% APRpaid last 24h −0.092%
Price spread now: MEXC against Hyperliquid−0.219%7-day average −0.099% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$270.274% of the position
Funding, last 7 days−0.105%−$10 on $10k
+Price spread, last 7 days+0.168%+$17 · spread now −0.219%, 7d avg −0.099%
=Together, before fees+0.064%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and MEXC is 0.119% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.099%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% 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 ICP | 2.9745 | 0.0942 | pay 0.0118% / 1h | 39m 26s | $4.8M | $4.9M | 5x |
| Short | MEXC ICP_USDT | 2.9680 | 0.0100 | get 0.0100% / 8h | 2h 39m | $19.5M | $8.4M | 50x |
Hyperliquid ICP
MEXC ICP_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
- −$176.73
- Price spread: −0.219% → −0.099%
- −$11.92
- Slippage, 4 orders
- −$18.43
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$216.09
- Costs to cover
- 0.274%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 2 min ago; MEXC: live order book, 4 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, 2 min ago | 1.17 bp | 9.9 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 4 min ago | 1.68 bp | 3.9 bp −$4 | 9.5 bp −$95 | 68.8 bp −$6,881 | 140.8 bp −$70.4K |
ICP on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| Phemex ICPUSDT | −0.1286% | 8h | 2.9660 | −0.286% | $1.7M | $782K | 50x | as long as short |
| Variational Omni ICP | −0.0267% | 8h | 2.9715 | −0.100% | $1.1M | $119K | — | as long as short |
| Deribit ICP_USDC-PERPETUAL | −0.0220% | 1h | 2.9748 | +0.010% | $265 | $464 | 50x | as long as short |
| Injective ICP/USDC PERP | −0.0199% | 1h | 2.9665 | −0.269% | $202 | $200K | 12x | as long as short |
| Gate ICP_USDT | −0.0130% | 8h | 2.9700 | −0.151% | $1.9M | $2.7M | 50x | as long as short |
| Bybit ICPUSDT | −0.0039% | 8h | 2.9680 | −0.219% | $17.1M | $17.6M | 75x | as long as short |
| dYdX ICP-USD | 0.0000% | 1h | 2.9759 | +0.048% | $69K | $4K | 5x | as long as short |
| gTrade (Gains Network) ICP/USD | L +0.0006% / S −0.0010% | 1h | 2.9700 | −0.151% | $27K | — | 150x | as long as short |
| Lighter ICP | +0.0096% | 1h | 2.9755 | +0.034% | $166K | $442K | 5x | as long as short |
| Aster ICPUSDT | +0.0100% | 8h | 2.9751 | +0.020% | $189K | $1.5M | 20x | as long as short |
Phemex ICPUSDT
Variational Omni ICP
Deribit ICP_USDC-PERPETUAL
Injective ICP/USDC PERP
Gate ICP_USDT
Bybit ICPUSDT
dYdX ICP-USD
gTrade (Gains Network) ICP/USD
Lighter ICP
Aster ICPUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Pacifica ICP | +0.0100% | 1h | 2.9737 | −0.027% | $135K | $11K | 5x | as long as short |
| Binance ICPUSDT | +0.0100% | 8h | 2.9686 | −0.198% | $28.9M | $48.6M | 75x | as long as short |
| OKX ICP-USDT-SWAP | +0.0100% | 8h | 2.9670 | −0.252% | $5.8M | $15.5M | 50x | as long as short |
| MEXC ICP_USDTshort | +0.0100% | 8h | 2.9680 | −0.219% | $19.5M | $8.4M | 50x | |
| KuCoin ICPUSDTM | +0.0100% | 8h | 2.9700 | −0.151% | $5.3M | $12.8M | 50x | as long as short |
| Bitget ICPUSDT | +0.0100% | 8h | 2.9700 | −0.151% | $6.8M | $4.4M | 50x | as long as short |
| BingX ICP-USDT | +0.0100% | 8h | 2.9700 | −0.151% | — | $4.9M | — | as long as short |
| edgeX ICPUSDC | +0.0100% | 4h | 2.9738 | −0.024% | $23K | $277K | 10x | as long as short |
| GRVT ICP_USDT_Perp | +0.0100% | 8h | 2.9728 | −0.058% | $570K | $481K | 10x | as long as short |
| SunX ICP-USDT | +0.0100% | 8h | 2.9730 | −0.050% | $1K | $1.7M | 20x | as long as short |
| HTX ICP-USDT | +0.0100% | 8h | 2.9690 | −0.185% | $106K | $218K | 20x | as long as short |
| Extended ICP-USD | +0.0104% | 1h | 2.9714 | −0.103% | $24K | $123K | 10x | as long as short |
| Kraken Futures PF_ICPUSD | +0.0148% | 1h | 2.9760 | +0.049% | $495K | $509K | 50x | as long as short |
| BloFin ICP-USDT | +0.0220% | 8h | 2.9740 | −0.017% | $1.2M | $2.2M | 75x | as long as short |
| Coinbase International ICP-PERP-INTX | +0.0232% | 1h | 2.9790 | +0.151% | $62K | $88K | 50x | as long as short |
| GMX ICP/USD [WBTC.b-USDC] | L +0.0432% / S −0.0367% | 1h | 2.9743 | −0.008% | $31K | — | 100x | as long as short |
| Hyperliquid ICPlong | +0.0942% | 1h | 2.9745 | long leg | $4.8M | $4.9M | 5x |
Pacifica ICP
Binance ICPUSDT
OKX ICP-USDT-SWAP
KuCoin ICPUSDTM
Bitget ICPUSDT
BingX ICP-USDT
edgeX ICPUSDC
GRVT ICP_USDT_Perp
SunX ICP-USDT
HTX ICP-USDT
Extended ICP-USD
Kraken Futures PF_ICPUSD
BloFin ICP-USDT
Coinbase International ICP-PERP-INTX
GMX ICP/USD [WBTC.b-USDC]