Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h +0.002%

Price spread now: BloFin against Hyperliquid−0.009%107s7-day average +0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as 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−$880.878% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.229%−$23 · spread now −0.009%, 7d avg +0.086%

Together, before fees−0.170%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.095% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.086%). If the spread goes back, that is −$10 on $10k: about 8.5 days of funding at the current rate (+$1 a day). The two prices were read 107 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	Hyperliquid MELANIA	0.1094	0.0100	pay 0.0013% / 1h	3m 27s	$1.7M	$197K	3x
Short	BloFin MELANIA-USDT	0.1094	0.0137	get 0.0069% / 4h	3m 27s	$196K	$6K	75x

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 −0.009%Rate

Funding earned: $7.86
Price spread: −0.009% → +0.086%: −$9.52
Slippage, 4 orders: −$66.83
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$89.49
Costs to cover: 0.878%
Break-even: 86.7 days

Slippage from Hyperliquid: live order book, 7 min ago; BloFin: live order book, 27 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, 7 min ago	0.91 bp	20.8 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 27 min ago	6.82 bp	26.2 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 MELANIAlong	+0.0100%	1h	0.1094	long leg	$1.7M	$197K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1095	+0.110%	$3.0M	$3.2M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1095	+0.082%	$1.5M	$797K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1093	−0.101%	$409K	$101K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1095	+0.073%	$1.2M	$138K	100x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1094	+0.027%	$943K	$231K	50x	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1093	−0.068%	$113K	$672	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1095	+0.110%	$250K	—	3x	as long as short
BingX MELANIA-USDT	+0.0108%	4h	0.1095	+0.137%	—	$1.5M	—	as long as short
BloFin MELANIA-USDTshort	+0.0137%	4h	0.1094	−0.009%	$196K	$6K	75x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MELANIAUSDTM	+0.0460%	4h	0.1093	−0.073%	$445K	$1.6M	30x	as long as short
Aster MELANIAUSDT	+0.0794%	4h	0.1093	−0.066%	$21K	$15K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.1737%	1h	0.1104	+0.936%	$25K	$3K	10x	as long as short