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: MEXC against Hyperliquid−0.130%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$560.560% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 7 days+0.093%+$9 · spread now −0.130%, 7d avg −0.064%

Together, before fees+0.109%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 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: MEXC is 0.066% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 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	0.2839	0.0100	pay 0.0013% / 1h	55m 13s	$4.3M	$1.3M	3x
Short	MEXC MET_USDT	0.2835	0.0100	get 0.0050% / 4h	1h 55m	$934K	$257K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.130%Rate

Funding earned: $0
Price spread: −0.130% → −0.064%: −$6.62
Slippage, 4 orders: −$43.04
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$62.66
Costs to cover: 0.560%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; MEXC: live order book, 24 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, 6 min ago	0.71 bp	14.4 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 24 min ago	1.76 bp	12.2 bp −$12	44.3 bp −$443	224.7 bp −$22.5K	802.3 bp −$401.2K

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 −0.1553% / S +0.0229%	1h	0.2838	−0.023%	$9K	—	50x	as long as short
Phoenix MET	−0.0197%	1h	0.2816	−0.817%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0043%	4h	0.2810	−1.011%	$290K	$78K	50x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2839	long leg	$4.3M	$1.3M	3x
Aster METUSDT	+0.0100%	4h	0.2837	−0.063%	$53K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2838	−0.025%	$5.0M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2837	−0.060%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2840	+0.046%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2833	−0.201%	$193K	$187K	50x	as long as short
MEXC MET_USDTshort	+0.0100%	4h	0.2835	−0.130%	$934K	$257K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2833	−0.201%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2836	−0.095%	$666K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2811	−0.976%	$36K	$110K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2838	−0.025%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0464%	1h	0.2840	+0.056%	$262K	$244K	5x	as long as short
Backpack MET_USDC_PERP	+0.0726%	1h	0.2841	+0.070%	$332K	$251K	5x	as long as short