Funding arb · Price arb /

NXPC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0250%/8h= −27.4% APRpaid last 24h −0.016%

Price spread now: Hyperliquid against MEXC−0.142%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$950.947% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$3 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.142%, 7d avg −0.084%

Together, before fees+0.068%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Hyperliquid is 0.057% cheaper against MEXC than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.084%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.035% in total (about -1.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC NXPC_USDT	0.2438	0.0100	pay 0.0050% / 4h	2h 41m	$492K	$249K	100x
Short	Hyperliquid NXPC	0.2435	−0.0150	pay 0.0019% / 1h	41m 07s	$381K	$394K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$52.5
Price spread: −0.142% → −0.084%: −$5.71
Slippage, 4 orders: −$81.71
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$152.92
Costs to cover: 0.947%
Break-even: never at this rate

Slippage from MEXC: live order book, 55 min ago; Hyperliquid: live order book, 29 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 MEXC live order book, 55 min ago	4.05 bp	17.0 bp −$17	128.1 bp −$1,281	352.3 bp −$35.2K	580.2 bp −$290.1K
Sell Hyperliquid live order book, 29 min ago	6.10 bp	29.9 bp −$30	doesn't fit	doesn't fit	doesn't fit

NXPC on 10 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
Hyperliquid NXPCshort	−0.0150%	1h	0.2435	−0.142%	$381K	$394K	3x
ApeX Omni NXPCUSDT	−0.0034%	1h	0.2449	+0.451%	$17K	$635K	50x	as long as short
BingX NXPC-USDT	+0.0070%	4h	0.2437	−0.041%	—	$6.5M	—	as long as short
Binance NXPCUSDT	+0.0100%	4h	0.2438	−0.013%	$4.6M	$8.0M	50x	as long as short
Bybit NXPCUSDT	+0.0100%	4h	0.2436	−0.082%	$1.2M	$2.6M	25x	as long as short
Gate NXPC_USDT	+0.0100%	8h	0.2434	−0.164%	$74K	$273K	50x	as long as short
MEXC NXPC_USDTlong	+0.0100%	4h	0.2438	long leg	$492K	$249K	100x
KuCoin NXPCUSDTM	+0.0100%	4h	0.2435	−0.123%	$561K	$169K	50x	as long as short
Bitget NXPCUSDT	+0.0100%	4h	0.2437	−0.041%	$421K	$928K	50x	as long as short
Variational Omni NXPC	+0.0100%	4h	0.2438	−0.015%	$29K	$2K	—	as long as short