Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against BloFin−0.180%87s7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as 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−$780.776% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$3 on $10k

Price spread, last 3 days (all we have)−0.435%−$44 · spread now −0.180%, 7d avg +0.034%

Together, before fees−0.470%+ Points / potential airdropHyperliquid: Season 2 · farm board−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hyperliquid is 0.214% cheaper against BloFin than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.034%). Swap the legs. The two prices were read 87 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	BloFin MET-USDT	0.2830	0.0141	pay 0.0071% / 4h	1h 51m	$292K	$78K	50x
Short	Hyperliquid MET	0.2825	0.0100	get 0.0013% / 1h	51m 39s	$4.3M	$1.2M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now −0.180%Rate

Funding earned: −$8.65
Price spread: −0.180% → +0.034%: −$21.39
Slippage, 4 orders: −$56.55
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$107.59
Costs to cover: 0.776%
Break-even: never at this rate

Slippage from BloFin: live order book, 25 min ago; Hyperliquid: 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 BloFin live order book, 25 min ago	1.77 bp	34.1 bp −$34	94.2 bp −$942	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.71 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit

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 −0.1588% / S +0.0233%	1h	0.2827	−0.117%	$9K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2834	+0.134%	$14K	$13K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2825	−0.180%	$4.3M	$1.2M	3x
Aster METUSDT	+0.0100%	4h	0.2829	−0.019%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2824	−0.203%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2823	−0.258%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2825	−0.177%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2827	−0.106%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2824	−0.212%	$944K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2827	−0.106%	$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	0.2828	−0.071%	$664K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2833	+0.106%	$37K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2826	−0.141%	$2K	$1.6M	20x	as long as short
BloFin MET-USDTlong	+0.0141%	4h	0.2830	long leg	$292K	$78K	50x
Lighter MET	+0.0200%	1h	0.2830	+0.004%	$261K	$244K	5x	as long as short
Backpack MET_USDC_PERP	+0.0729%	1h	0.2828	−0.071%	$330K	$251K	5x	as long as short