Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Hyperliquid−0.075%7-day average −0.035% · you buy dearer than you sell

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

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 7 days+0.034%+$3 · spread now −0.075%, 7d avg −0.035%

Together, before fees+0.100%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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: OKX is 0.040% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2795	0.0100	pay 0.0013% / 1h	54m 54s	$3.9M	$1.6M	3x
Short	OKX MET-USDT-SWAP	0.2793	0.0100	get 0.0050% / 4h	2h 54m	$1.2M	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.035%: −$4.01
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$23.01
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 7 min ago; OKX: 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 Hyperliquid live order book, 7 min ago	0.71 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.56 bp	26.6 bp −$27	126.4 bp −$1,264	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 −0.1723% / S +0.0247%	1h	0.2791	−0.130%	$9K	—	50x	as long as short
BloFin MET-USDT	+0.0047%	4h	0.2801	+0.211%	$290K	$89K	50x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2795	long leg	$3.9M	$1.6M	3x
Aster METUSDT	+0.0100%	4h	0.2796	+0.018%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2795	−0.008%	$4.8M	$12.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2794	−0.047%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAPshort	+0.0100%	4h	0.2793	−0.075%	$1.2M	$3.4M	20x
Gate MET_USDT	+0.0100%	4h	0.2794	−0.039%	$181K	$178K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2795	−0.004%	$967K	$276K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2794	−0.039%	$1.3M	$2.6M	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	0.2795	−0.004%	$653K	$882K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2796	+0.021%	$318K	$273K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2809	+0.497%	$36K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2793	−0.075%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0104%	1h	0.2797	+0.057%	$248K	$285K	5x	as long as short
Phoenix MET	+0.0197%	1h	0.2812	+0.608%	$14K	$15K	5x	as long as short