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: Hyperliquid against OKX−0.032%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$870.865% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 7 days−0.016%−$2 · spread now −0.032%, 7d avg +0.033%

Together, before fees−0.079%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 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: Hyperliquid is 0.065% cheaper against OKX than usual: you would sell low and buy high, −$7 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	OKX MET-USDT-SWAP	0.2792	0.0100	pay 0.0050% / 4h	3h 33m	$1.2M	$3.2M	20x
Short	Hyperliquid MET	0.2791	0.0100	get 0.0013% / 1h	33m 25s	$3.8M	$1.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → +0.033%: −$6.51
Slippage, 4 orders: −$67.54
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$93.05
Costs to cover: 0.865%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Hyperliquid: live order book, 8 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 OKX live order book, 4 min ago	3.58 bp	22.1 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	1.25 bp	21.5 bp −$22	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 −0.0498% / S +0.0175%	1h	0.2790	−0.057%	$4K	—	50x	as long as short
Phoenix MET	−0.0029%	1h	0.2790	−0.079%	$14K	$15K	5x	as long as short
BloFin MET-USDT	+0.0066%	4h	0.2793	+0.036%	$285K	$90K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2791	−0.054%	$169K	$423K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2791	−0.032%	$3.8M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2794	+0.058%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2789	−0.093%	$4.8M	$12.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2789	−0.107%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAPlong	+0.0100%	4h	0.2792	long leg	$1.2M	$3.2M	20x
Gate MET_USDT	+0.0100%	4h	0.2790	−0.072%	$178K	$168K	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	0.2789	−0.107%	$937K	$280K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2792	0.000%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2793	+0.036%	$660K	$852K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2789	−0.107%	$36K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2790	−0.072%	$1K	$1.6M	20x	as long as short
Backpack MET_USDC_PERP	+0.0369%	1h	0.2792	−0.004%	$318K	$269K	5x	as long as short