Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Gate+0.111%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1271.271% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now +0.111%, 7d avg +0.089%

Together, before fees+0.103%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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 0.022% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MELANIA_USDT	0.1077	0.0100	pay 0.0050% / 4h	1h 56m	$419K	$64K	50x
Short	Hyperliquid MELANIA	0.1078	0.0100	get 0.0013% / 1h	56m 14s	$1.7M	$200K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.111%Rate

Funding earned: $0
Price spread: +0.111% → +0.089%: $2.22
Slippage, 4 orders: −$103.06
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$124.84
Costs to cover: 1.271%
Break-even: never at this rate

Slippage from Gate: live order book, 24 min ago; Hyperliquid: 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 Gate live order book, 24 min ago	22.29 bp	41.1 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.86 bp	27.3 bp −$27	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
Kraken Futures PF_MELANIAUSD	+0.0072%	1h	0.1084	+0.636%	$25K	$3K	10x	as long as short
Hyperliquid MELANIAshort	+0.0100%	1h	0.1078	+0.111%	$1.7M	$200K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1082	+0.457%	$3.0M	$3.0M	75x	as long as short
Gate MELANIA_USDTlong	+0.0100%	4h	0.1077	long leg	$419K	$64K	50x
MEXC MELANIA_USDT	+0.0100%	4h	0.1082	+0.474%	$1.2M	$134K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1077	+0.028%	$394K	$839K	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1081	+0.418%	$965K	$207K	50x	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1076	−0.055%	$111K	$1K	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1080	+0.306%	$247K	—	3x	as long as short
BloFin MELANIA-USDT	+0.0149%	4h	0.1076	−0.111%	$196K	$6K	75x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX MELANIA-USDT	+0.0174%	4h	0.1083	+0.576%	—	$1.5M	—	as long as short
Bybit MELANIAUSDT	+0.0228%	4h	0.1081	+0.446%	$1.5M	$653K	20x	as long as short
Aster MELANIAUSDT	+0.0603%	4h	0.1077	+0.009%	$20K	$16K	5x	as long as short