Funding you earn now, next payment 22:00 UTC−0.0503%/8h= −55.1% APRpaid last 24h −0.033%
Price spread now: MEXC against Hyperliquid−0.135%7-day average −0.091% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$250.253% of the position
Funding, last 7 days−0.057%−$6 on $10k
+Price spread, last 7 days+0.058%+$6 · spread now −0.135%, 7d avg −0.091%
=Together, before fees+0.001%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and MEXC is 0.044% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.091%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.057% in total (about -3.0% 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 kSHIB | 0.000005934 | 0.0603 | pay 0.0075% / 1h | 38m 21s | $4.3M | $3.7M | 10x |
| Short | MEXC SHIB_USDT | 0.000005926 | 0.0100 | get 0.0100% / 8h | 2h 38m | $31.7M | $15.6M | 300x |
Hyperliquid kSHIB
MEXC SHIB_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
- −$105.68
- Price spread: −0.135% → −0.091%
- −$4.39
- Slippage, 4 orders
- −$16.25
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$135.33
- Costs to cover
- 0.253%
- 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 | 1.68 bp | 7.8 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 5 min ago | 0.84 bp | 4.1 bp −$4 | 10.2 bp −$102 | 56.5 bp −$5,654 | 88.2 bp −$44.1K |
SHIB on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000005926 | −0.137% | $50K | $1.6M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000005916 | −0.303% | $42K | $61K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000005924 | −0.160% | $720 | — | 150x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0016% | 1h | 0.000005933 | −0.017% | $89K | $752K | 50x | as long as short |
| Kraken Futures PF_SHIBUSD | +0.0056% | 1h | 0.000005913 | −0.354% | $1.1M | $763K | 50x | as long as short |
| BingX 1000SHIB-USDC | +0.0080% | 8h | 0.000005923 | −0.185% | — | $1.6M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000005920 | −0.236% | $150K | $285K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000005923 | −0.185% | $35K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000005923 | −0.185% | $11K | $4K | 10x | as long as short |
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000005929 | −0.084% | $28.9M | $88.0M | 75x | as long as short |
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Coinbase International 1000SHIB-PERP-INTX
Kraken Futures PF_SHIBUSD
BingX 1000SHIB-USDC
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIB
Binance 1000SHIBUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000005924 | −0.169% | $7.5M | $27.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000005920 | −0.236% | $6.7M | $5.4M | 75x | as long as short |
| MEXC SHIB_USDTshort | +0.0100% | 8h | 0.000005926 | −0.135% | $31.7M | $15.6M | 300x | |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000005922 | −0.202% | $4.9M | $2.3M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000005923 | −0.185% | $11.6M | $12.5M | 75x | as long as short |
| Backpack kSHIB_USDC_PERP | +0.0100% | 1h | 0.000005915 | −0.320% | $25K | $5K | 15x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000005929 | −0.084% | $6K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000005952 | +0.303% | $2K | $23K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000005915 | −0.320% | $539 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000005919 | −0.253% | $398K | $620K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000005920 | −0.236% | $2.1M | $5.3M | 50x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0100% | 8h | 0.000005928 | −0.096% | $7K | — | 20x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000005923 | −0.187% | $52K | $4K | 25x | as long as short |
| Injective SHIB/USDC PERP | +0.0187% | 1h | 0.000005964 | +0.506% | $245 | $67K | 5.5x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000005000 | −15.740% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000005915 | −0.320% | $703K | $980K | 50x | as long as short |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000005922 | −0.209% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIBlong | +0.0603% | 1h | 0.000005934 | long leg | $4.3M | $3.7M | 10x | |
| dYdX SHIB-USD | +0.9435% | 1h | 0.000005921 | −0.223% | $23K | $64K | 10x | as long as short |
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Backpack kSHIB_USDC_PERP
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Paradex kSHIB-USD-PERP
Extended 1000SHIB-USD
Injective SHIB/USDC PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
dYdX SHIB-USD