Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Hyperliquid−0.026%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$790.788% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 7 days−0.007%−$1 · spread now −0.026%, 7d avg −0.064%

Together, before fees+0.026%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 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 0.038% dearer against Hyperliquid than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2766	0.0100	pay 0.0013% / 1h	8m 40s	$3.7M	$1.7M	3x
Short	Binance METUSDT	0.2765	0.0100	get 0.0050% / 4h	3h 08m	$4.7M	$12.1M	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 −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.064%: $3.78
Slippage, 4 orders: −$59.84
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$75.06
Costs to cover: 0.788%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Binance: live order book, 1 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	0.72 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	1.80 bp	17.6 bp −$18	80.0 bp −$800	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 −0.0498% / S +0.0175%	1h	0.2765	−0.035%	$4K	—	50x	as long as short
Phoenix MET	−0.0029%	1h	0.2770	+0.154%	$13K	$15K	5x	as long as short
BloFin MET-USDT	+0.0080%	4h	0.2772	+0.227%	$283K	$88K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2765	−0.023%	$169K	$424K	5x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2766	long leg	$3.7M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2765	−0.026%	$52K	$11K	5x	as long as short
Binance METUSDTshort	+0.0100%	4h	0.2765	−0.026%	$4.7M	$12.1M	50x
Bybit METUSDT	+0.0100%	4h	0.2763	−0.099%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2767	+0.046%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2762	−0.135%	$179K	$174K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2764	−0.063%	$928K	$282K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2764	−0.063%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2764	−0.063%	$658K	$864K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2765	−0.041%	$313K	$272K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2768	+0.082%	$35K	$119K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2763	−0.099%	$2K	$1.6M	20x	as long as short