Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Hyperliquid+0.025%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1671.667% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.162%−$16 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.025%, 7d avg −0.033%

Together, before fees−0.207%+ Points / potential airdropHyperliquid: Season 2 · farm board−$21 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: KuCoin is 0.058% dearer against Hyperliquid than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2755	0.0100	pay 0.0013% / 1h	39m 48s	$3.6M	$1.8M	3x
Short	KuCoin METUSDTM	0.2756	0.0100	get 0.0050% / 4h	3h 39m	$1.3M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → −0.033%: $5.82
Slippage, 4 orders: −$145.72
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$160.9
Costs to cover: 1.667%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; KuCoin: live order book, 7 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, 2 min ago	0.54 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	5.45 bp	65.7 bp −$66	293.7 bp −$2,937	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 −0.0738% / S +0.0214%	1h	0.2757	+0.071%	$4K	—	50x	as long as short
Phoenix MET	−0.0206%	1h	0.2758	+0.098%	$13K	$14K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2760	+0.160%	$170K	$435K	5x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2755	long leg	$3.6M	$1.8M	3x
Aster METUSDT	+0.0100%	4h	0.2756	+0.024%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2754	−0.061%	$4.6M	$12.6M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2754	−0.040%	$4.7M	$3.3M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2756	+0.025%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2756	+0.025%	$174K	$168K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2755	−0.011%	$846K	$289K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTMshort	+0.0100%	4h	0.2756	+0.025%	$1.3M	$2.7M	50x
Bitget METUSDT	+0.0100%	4h	0.2757	+0.062%	$686K	$918K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2750	−0.192%	$34K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2753	−0.083%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0132%	4h	0.2754	−0.047%	$271K	$91K	50x	as long as short
Backpack MET_USDC_PERP	+0.0312%	1h	0.2757	+0.069%	$315K	$249K	5x	as long as short