Funding you earn now, next payment 05:00 UTC−0.0738%/8h= −80.8% APRpaid last 24h −0.124%
Price spread now: MEXC against Hyperliquid−0.192%7-day average −0.172% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$610.611% of the position
Funding, last 7 days−0.155%−$16 on $10k
+Price spread, last 7 days+0.063%+$6 · spread now −0.192%, 7d avg −0.172%
=Together, before fees−0.092%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and MEXC is 0.021% cheaper against Hyperliquid than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.172%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.155% in total (about -8.1% 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 | Hyperliquid PNUT | 0.05722 | 0.0838 | pay 0.0105% / 1h | 33m 25s | $1.7M | $502K | 3x |
| Short | MEXC PNUT_USDT | 0.05711 | 0.0100 | get 0.0050% / 4h | 3h 33m | $1.2M | $414K | 100x |
Hyperliquid PNUT
MEXC PNUT_USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$154.96
- Price spread: −0.192% → −0.172%
- −$2.05
- Slippage, 4 orders
- −$48.08
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$218.1
- Costs to cover
- 0.611%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; MEXC: live order book, 3 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, 7 min ago | 2.60 bp | 20.1 bp −$20 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 3 min ago | 2.62 bp | 7.5 bp −$7 | 16.3 bp −$163 | 105.5 bp −$10.6K | 261.9 bp −$131.0K |
PNUT 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX PNUT-USDT-SWAP | +0.0088% | 4h | 0.05704 | −0.315% | $1.7M | $6.3M | 20x | as long as short |
| BloFin PNUT-USDT | +0.0099% | 4h | 0.05723 | +0.017% | $295K | $27K | 50x | as long as short |
| Aster PNUTUSDT | +0.0100% | 4h | 0.05709 | −0.226% | $3K | $19K | 5x | as long as short |
| Binance PNUTUSDT | +0.0100% | 4h | 0.05712 | −0.172% | $5.5M | $10.6M | 50x | as long as short |
| Bybit PNUTUSDT | +0.0100% | 4h | 0.05703 | −0.332% | $2.6M | $1.4M | 50x | as long as short |
| Gate PNUT_USDT | +0.0100% | 4h | 0.05712 | −0.175% | $912K | $1.2M | 50x | as long as short |
| MEXC PNUT_USDTshort | +0.0100% | 4h | 0.05711 | −0.192% | $1.2M | $414K | 100x | |
| Bitget PNUTUSDT | +0.0100% | 4h | 0.05709 | −0.227% | $760K | $1.1M | 50x | as long as short |
| BingX PNUT-USDC | +0.0100% | 4h | 0.05711 | −0.192% | — | $6.5M | — | as long as short |
| Variational Omni PNUT | +0.0100% | 4h | 0.05727 | +0.096% | $33 | $2K | — | as long as short |
OKX PNUT-USDT-SWAP
BloFin PNUT-USDT
Aster PNUTUSDT
Binance PNUTUSDT
Bybit PNUTUSDT
Gate PNUT_USDT
Bitget PNUTUSDT
BingX PNUT-USDC
Variational Omni PNUTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended PNUT-USD | +0.0104% | 1h | 0.05710 | −0.211% | $8K | $137K | 5x | as long as short |
| KuCoin PNUTUSDTM | +0.0204% | 4h | 0.05717 | −0.087% | $1.1M | $111K | 30x | as long as short |
| Deribit PNUT_USDC-PERPETUAL | +0.0275% | 1h | 0.05714 | −0.140% | $4 | — | 10x | as long as short |
| Hyperliquid PNUTlong | +0.0838% | 1h | 0.05722 | long leg | $1.7M | $502K | 3x | |
| Kraken Futures PF_PNUTUSD | +0.1167% | 1h | 0.05720 | −0.037% | $24K | $14K | 10x | as long as short |
| Coinbase International PNUT-PERP-INTX | +0.1240% | 1h | 0.05776 | +0.944% | $366K | $42K | 50x | as long as short |
Extended PNUT-USD
KuCoin PNUTUSDTM
Deribit PNUT_USDC-PERPETUAL
Kraken Futures PF_PNUTUSD
Coinbase International PNUT-PERP-INTX