Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Hyperliquid against BingX−0.120%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1171.168% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.120%, 7d avg −0.074%

Together, before fees−0.030%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 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 0.046% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MELANIA-USDT	0.1086	0.0100	pay 0.0050% / 4h	11m 38s	—	$1.5M	—
Short	Hyperliquid MELANIA	0.1084	0.0100	get 0.0013% / 1h	11m 38s	$1.7M	$202K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now −0.120%Rate

Funding earned: $0
Price spread: −0.120% → −0.074%: −$4.62
Slippage, 4 orders: −$97.76
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$121.38
Costs to cover: 1.168%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Hyperliquid: live order book, 9 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 BingX live order book, 5 min ago	6.89 bp	37.9 bp −$38	134.0 bp −$1,340	555.9 bp −$55.6K	756.2 bp −$378.1K
Sell Hyperliquid live order book, 9 min ago	1.84 bp	32.1 bp −$32	doesn't fit	doesn't fit	doesn't fit

MELANIA 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 MELANIAshort	+0.0100%	1h	0.1084	−0.120%	$1.7M	$202K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1085	−0.025%	$3.0M	$3.0M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1086	+0.018%	$1.5M	$679K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1083	−0.276%	$420K	$62K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1086	−0.009%	$1.2M	$137K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1084	−0.157%	$395K	$1.0M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1084	−0.120%	$961K	$216K	50x	as long as short
BingX MELANIA-USDTlong	+0.0100%	4h	0.1086	long leg	—	$1.5M	—
Variational Omni MELANIA	+0.0100%	4h	0.1088	+0.230%	$113K	$590	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1078	−0.709%	$247K	—	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MELANIA-USDT	+0.0132%	4h	0.1086	+0.046%	$195K	$6K	75x	as long as short
Aster MELANIAUSDT	+0.0484%	4h	0.1086	−0.014%	$21K	$16K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.1987%	1h	0.1085	−0.049%	$25K	$3K	10x	as long as short