Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: BingX against Hyperliquid+0.145%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$940.945% of the position

Long on Hyperliquid Short on BingX

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−0.079%−$8 · spread now +0.145%, 7d avg +0.075%

Together, before fees−0.014%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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: BingX is 0.070% dearer against Hyperliquid than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MELANIA	0.1104	0.0100	pay 0.0013% / 1h	17m 57s	$1.7M	$206K	3x
Short	BingX MELANIA-USDT	0.1105	0.0100	get 0.0050% / 4h	1h 17m	—	$1.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.145%Rate

Funding earned: $0
Price spread: +0.145% → +0.075%: $7.01
Slippage, 4 orders: −$75.49
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$87.48
Costs to cover: 0.945%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; BingX: 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, 3 min ago	1.81 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	6.34 bp	29.4 bp −$29	99.0 bp −$990	545.3 bp −$54.5K	800.2 bp −$400.1K

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 MELANIAlong	+0.0100%	1h	0.1104	long leg	$1.7M	$206K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1103	−0.012%	$3.0M	$3.2M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1104	+0.036%	$1.5M	$741K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1102	−0.163%	$423K	$67K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1104	+0.036%	$1.2M	$137K	100x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1102	−0.118%	$964K	$217K	50x	as long as short
BingX MELANIA-USDTshort	+0.0100%	4h	0.1105	+0.145%	—	$1.5M	—
Variational Omni MELANIA	+0.0100%	4h	0.1105	+0.136%	$114K	$672	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1095	−0.803%	$250K	—	3x	as long as short
BloFin MELANIA-USDT	+0.0146%	4h	0.1104	+0.018%	$199K	$6K	75x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MELANIAUSDTM	+0.0424%	4h	0.1104	+0.045%	$447K	$1.4M	30x	as long as short
Aster MELANIAUSDT	+0.0915%	4h	0.1103	−0.036%	$21K	$15K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.1859%	1h	0.1103	−0.024%	$25K	$3K	10x	as long as short