Funding arb · Price arb /

MEME

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Binance against Hyperliquid+0.146%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$1000.998% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$4 on $10k

Price spread, last 4 days (all we have)−0.118%−$12 · spread now +0.146%, 7d avg +0.050%

Together, before fees−0.082%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 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: Binance is 0.096% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MEME	0.0006180	0.0100	pay 0.0013% / 1h	12m 21s	$571K	$159K	3x
Short	Binance MEMEUSDT	0.0006189	0.0100	get 0.0050% / 4h	2h 12m	$2.5M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.146%Rate

Funding earned: $0
Price spread: +0.146% → +0.050%: $9.61
Slippage, 4 orders: −$80.77
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$90.17
Costs to cover: 0.998%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 37 min ago; Binance: live order book, 10 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, 37 min ago	8.02 bp	17.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	4.01 bp	22.0 bp −$22	80.1 bp −$801	doesn't fit	doesn't fit

MEME on 10 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
GMX MEME/USD [WBTC.b-USDC]	L 0.0000% / S 0.0000%	1h	0.0006170	−0.162%	—	—	100x	as long as short
Bybit MEMEUSDT	+0.0080%	4h	0.0006190	+0.162%	$1.3M	$631K	50x	as long as short
Hyperliquid MEMElong	+0.0100%	1h	0.0006180	long leg	$571K	$159K	3x
Binance MEMEUSDTshort	+0.0100%	4h	0.0006189	+0.146%	$2.5M	$4.8M	50x
OKX MEME-USDT-SWAP	+0.0100%	4h	0.0006190	+0.162%	$639K	$2.1M	20x	as long as short
Gate MEME_USDT	+0.0100%	4h	0.0006170	−0.162%	$428K	$77K	20x	as long as short
MEXC MEME_USDT	+0.0100%	4h	0.0006179	−0.016%	$902K	$385K	50x	as long as short
KuCoin MEMEUSDTM	+0.0100%	4h	0.0006178	−0.032%	$185K	$53K	30x	as long as short
Bitget MEMEUSDT	+0.0100%	4h	0.0006190	+0.162%	$446K	$757K	25x	as long as short
BingX MEME-USDT	+0.0100%	4h	0.0006191	+0.178%	—	$2.4M	—	as long as short