Funding arb · Price arb /

ME

all ME markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0059%/8h= +6.4% APRpaid last 24h +0.004%

Price spread now: BloFin against Hyperliquid+0.335%7-day average +0.037% · you sell dearer than you buy

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

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)−0.245%−$25 · spread now +0.335%, 7d avg +0.037%

Together, before fees−0.298%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.299% dearer against Hyperliquid than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.037%. Mind the row above: over the last 7 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ME	0.07453	0.0100	pay 0.0013% / 1h	40m 36s	$233K	$110K	3x
Short	BloFin ME-USDT	0.07478	0.0159	get 0.0079% / 4h	2h 40m	$108K	$8K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.335%Rate

Funding earned: $12.3
Price spread: +0.335% → +0.037%: $29.86
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: $21.16
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 29 min ago; BloFin: live order book, 38 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 Hyperliquid live order book, 29 min ago	1.99 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 38 min ago	3.33 bp	22.9 bp −$23	46.2 bp −$462	doesn't fit	doesn't fit

ME 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
Hyperliquid MElong	+0.0100%	1h	0.07453	long leg	$233K	$110K	3x
Aster MEUSDT	+0.0100%	4h	0.07456	+0.042%	$13K	$21K	5x	as long as short
Binance MEUSDT	+0.0100%	4h	0.07438	−0.207%	$2.1M	$4.1M	50x	as long as short
Bybit MEUSDT	+0.0100%	4h	0.07440	−0.174%	$1.5M	$810K	25x	as long as short
OKX ME-USDT-SWAP	+0.0100%	4h	0.07429	−0.322%	$470K	$1.2M	20x	as long as short
Gate ME_USDT	+0.0100%	8h	0.07460	+0.094%	$192K	$73K	50x	as long as short
MEXC ME_USDT	+0.0100%	4h	0.07448	−0.067%	$494K	$130K	20x	as long as short
KuCoin MEUSDTM	+0.0100%	4h	0.07463	+0.134%	$212K	$32K	30x	as long as short
Bitget MEUSDT	+0.0100%	4h	0.07441	−0.161%	$638K	$436K	25x	as long as short
BingX ME-USDT	+0.0100%	4h	0.07445	−0.107%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ME	+0.0100%	4h	0.07455	+0.030%	$12K	$2K	—	as long as short
BloFin ME-USDTshort	+0.0159%	4h	0.07478	+0.335%	$108K	$8K	50x
Reya MERUSDPERP	+0.0228%	1h	0.07469	+0.220%	$26K	—	15x	as long as short