Funding you earn now, next payment 00:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.010%
Price spread now: MEXC against Hyperliquid−0.047%7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$500.499% of the position
Funding, last 7 days−0.089%−$9 on $10k
+Price spread, last 7 days−0.094%−$9 · spread now −0.047%, 7d avg −0.091%
=Together, before fees−0.183%+ Points / potential airdropHyperliquid: Season 2 · farm board−$18 on $10k · with fees, hour by hour
The price spread pays, funding is against you. MEXC is 0.044% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.047% now, against its 7-day average of −0.091%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.089% in total) that is about 3.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.089% in total (about -4.7% 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 PYTH | 0.06332 | 0.0100 | pay 0.0013% / 1h | 37m 32s | $1.7M | $1.5M | 5x |
| Short | MEXC PYTH_USDT | 0.06329 | −0.0112 | pay 0.0056% / 4h | 37m 32s | $9.5M | $2.3M | 125x |
Hyperliquid PYTH
MEXC PYTH_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
- −$44.52
- Price spread: −0.047% → −0.091%
- $4.4
- Slippage, 4 orders
- −$40.86
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$89.98
- Costs to cover
- 0.499%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 3 min ago; MEXC: live order book, 5 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, 3 min ago | 1.10 bp | 17.1 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 5 min ago | 1.58 bp | 5.7 bp −$6 | 12.7 bp −$127 | 84.0 bp −$8,395 | 175.7 bp −$87.8K |
PYTH on 23 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PYTHUSD | −0.0398% | 1h | 0.06336 | +0.066% | $377K | $264K | 25x | as long as short |
| BloFin PYTH-USDT | −0.0130% | 4h | 0.06339 | +0.111% | $423K | $115K | 75x | as long as short |
| Binance PYTHUSDT | −0.0117% | 4h | 0.06325 | −0.117% | $9.0M | $17.1M | 75x | as long as short |
| MEXC PYTH_USDTshort | −0.0112% | 4h | 0.06329 | −0.047% | $9.5M | $2.3M | 125x | |
| Deribit PYTH_USDC-PERPETUAL | −0.0065% | 1h | 0.06339 | +0.111% | $10K | $10K | 10x | as long as short |
| dYdX PYTH-USD | 0.0000% | 1h | 0.06335 | +0.046% | $188K | $19 | 5x | as long as short |
| Bybit PYTHUSDT | +0.0014% | 4h | 0.06330 | −0.032% | $7.5M | $4.8M | 50x | as long as short |
| Gate PYTH_USDT | +0.0032% | 4h | 0.06324 | −0.126% | $1.1M | $474K | 75x | as long as short |
| Injective PYTH/USDC PERP | +0.0033% | 1h | 0.06260 | −1.137% | $553 | $220K | 5.5x | as long as short |
| Aster PYTHUSDT | +0.0040% | 4h | 0.06338 | +0.088% | $22K | $44K | 10x | as long as short |
Kraken Futures PF_PYTHUSD
BloFin PYTH-USDT
Binance PYTHUSDT
Deribit PYTH_USDC-PERPETUAL
dYdX PYTH-USD
Bybit PYTHUSDT
Gate PYTH_USDT
Injective PYTH/USDC PERP
Aster PYTHUSDTShow all 23 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo PYTH-PERP | +0.0056% | 1h | 0.06335 | +0.047% | $23K | — | 3x | as long as short |
| Lighter PYTH | +0.0096% | 1h | 0.06336 | +0.063% | $200K | $217K | 5x | as long as short |
| Paradex PYTH-USD-PERP | +0.0100% | 8h | 0.06322 | −0.164% | $3K | $56 | 10x | as long as short |
| Hyperliquid PYTHlong | +0.0100% | 1h | 0.06332 | long leg | $1.7M | $1.5M | 5x | |
| OKX PYTH-USDT-SWAP | +0.0100% | 4h | 0.06331 | −0.016% | $2.1M | $3.4M | 50x | as long as short |
| KuCoin PYTHUSDTM | +0.0100% | 4h | 0.06335 | +0.047% | $1.5M | $313K | 50x | as long as short |
| Bitget PYTHUSDT | +0.0100% | 4h | 0.06333 | +0.016% | $2.6M | $2.0M | 75x | as long as short |
| BingX PYTH-USDT | +0.0100% | 4h | 0.06329 | −0.047% | — | $2.8M | — | as long as short |
| Variational Omni PYTH | +0.0100% | 4h | 0.06342 | +0.153% | $44K | $23K | — | as long as short |
| Orderly PERP_PYTH_USDC_mythos | +0.0100% | 4h | 0.06332 | +0.006% | $3K | $1K | 10x | as long as short |
| Coinbase International PYTH-PERP-INTX | +0.0176% | 1h | 0.06328 | −0.063% | $39K | $6K | 25x | as long as short |
| Reya PYTHRUSDPERP | +0.0302% | 1h | 0.06332 | +0.008% | — | — | 20x | as long as short |
| Backpack PYTH_USDC_PERP | +0.0559% | 1h | 0.06340 | +0.122% | $36K | $89K | 10x | as long as short |
Aevo PYTH-PERP
Lighter PYTH
Paradex PYTH-USD-PERP
OKX PYTH-USDT-SWAP
KuCoin PYTHUSDTM
Bitget PYTHUSDT
BingX PYTH-USDT
Variational Omni PYTH
Orderly PERP_PYTH_USDC_mythos
Coinbase International PYTH-PERP-INTX
Reya PYTHRUSDPERP
Backpack PYTH_USDC_PERP