Funding arb · Price arb /

MET

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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 Aster−0.053%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.053% cheaper against Aster than usual: you would sell low and buy high, −$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster METUSDT	0.2822	0.0100	pay 0.0050% / 4h	1h 50m	$52K	$10K	5x
Short	Hyperliquid MET	0.2821	0.0100	get 0.0013% / 1h	50m 05s	$4.3M	$1.3M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now −0.053%Rate

Funding earned: $0
Price spread: −0.053% → 0.000%: −$5.32
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$22.32
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Hyperliquid: live order book, 2 min ago. Net counts fees only.

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 Aster no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 2 min ago	0.53 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MET on 16 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 MET/USD [WBTC.b-USDC]	L −0.1613% / S +0.0235%	1h	0.2821	−0.060%	$9K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2834	+0.407%	$14K	$13K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2821	−0.053%	$4.3M	$1.3M	3x
Aster METUSDTlong	+0.0100%	4h	0.2822	long leg	$52K	$10K	5x
Binance METUSDT	+0.0100%	4h	0.2819	−0.117%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2820	−0.092%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2820	−0.082%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2823	+0.025%	$192K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2822	−0.011%	$943K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2821	−0.046%	$1.3M	$2.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METUSDT	+0.0100%	4h	0.2824	+0.060%	$663K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2818	−0.152%	$36K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2821	−0.046%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0120%	1h	0.2827	+0.177%	$261K	$244K	5x	as long as short
BloFin MET-USDT	+0.0147%	4h	0.2824	+0.060%	$288K	$78K	50x	as long as short
Backpack MET_USDC_PERP	+0.0691%	1h	0.2822	−0.014%	$330K	$251K	5x	as long as short