Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h −0.002%

Price spread now: Hyperliquid against BloFin+0.194%87s7-day average −0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1031.028% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 3 days (all we have)−0.139%−$14 · spread now +0.194%, 7d avg −0.094%

Together, before fees−0.197%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.288% dearer against BloFin than usual: you sell high and buy low (spread +0.194% now, against its 7-day average of −0.094%): +$29 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 22 days. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MELANIA-USDT	0.1085	0.0143	pay 0.0071% / 4h	7m 52s	$195K	$6K	75x
Short	Hyperliquid MELANIA	0.1087	0.0100	get 0.0013% / 1h	7m 52s	$1.7M	$201K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.194%Rate

Funding earned: −$8.99
Price spread: +0.194% → −0.094%: $28.76
Slippage, 4 orders: −$81.76
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$82.99
Costs to cover: 1.028%
Break-even: never at this rate

Slippage from BloFin: live order book, 62 min ago; Hyperliquid: live order book, 3 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 BloFin live order book, 62 min ago	3.70 bp	32.9 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	1.38 bp	25.6 bp −$26	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	0.1087	+0.194%	$1.7M	$201K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1089	+0.341%	$3.0M	$3.0M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1087	+0.175%	$1.5M	$680K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1084	−0.129%	$421K	$62K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1088	+0.295%	$1.2M	$138K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1086	+0.074%	$394K	$1.0M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1084	−0.074%	$961K	$216K	50x	as long as short
BingX MELANIA-USDT	+0.0100%	4h	0.1089	+0.332%	—	$1.5M	—	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1086	+0.055%	$113K	$590	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1076	−0.875%	$246K	—	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-USDTlong	+0.0143%	4h	0.1085	long leg	$195K	$6K	75x
Aster MELANIAUSDT	+0.0502%	4h	0.1086	+0.092%	$21K	$16K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.1982%	1h	0.1088	+0.256%	$25K	$3K	10x	as long as short