Funding arb · Price arb /

WCT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against MEXC+0.265%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$950.954% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.332%−$33 · spread now +0.265%, 7d avg +0.076%

Together, before fees−0.332%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 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 0.189% dearer against MEXC than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WCT_USDT	0.04229	0.0100	pay 0.0050% / 4h	2h 08m	$420K	$132K	50x
Short	Hyperliquid WCT	0.04240	0.0100	get 0.0013% / 1h	8m 48s	$195K	$266K	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 +0.265%Rate

Funding earned: $0
Price spread: +0.265% → +0.076%: $18.91
Slippage, 4 orders: −$82.39
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$76.48
Costs to cover: 0.954%
Break-even: never at this rate

Slippage from MEXC: live order book, 42 min ago; Hyperliquid: live order book, 31 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, 42 min ago	3.56 bp	7.1 bp −$7	61.7 bp −$617	259.7 bp −$26.0K	516.6 bp −$258.3K
Sell Hyperliquid live order book, 31 min ago	5.70 bp	36.2 bp −$36	doesn't fit	doesn't fit	doesn't fit

WCT 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 WCTshort	+0.0100%	1h	0.04240	+0.265%	$195K	$266K	3x
Binance WCTUSDT	+0.0100%	4h	0.04227	−0.042%	$1.9M	$2.5M	25x	as long as short
Bybit WCTUSDT	+0.0100%	4h	0.04223	−0.142%	$886K	$512K	25x	as long as short
OKX WCT-USDT-SWAP	+0.0100%	4h	0.04235	+0.142%	$389K	$623K	20x	as long as short
Gate WCT_USDT	+0.0100%	8h	0.04230	+0.024%	$104K	$48K	25x	as long as short
MEXC WCT_USDTlong	+0.0100%	4h	0.04229	long leg	$420K	$132K	50x
KuCoin WCTUSDTM	+0.0100%	4h	0.04225	−0.095%	$128K	$31K	25x	as long as short
Bitget WCTUSDT	+0.0100%	4h	0.04236	+0.166%	$423K	$340K	25x	as long as short
BingX WCT-USDT	+0.0100%	4h	0.04224	−0.118%	—	$6.5M	—	as long as short
Variational Omni WCT	+0.0100%	4h	0.04225	−0.100%	$7K	$2K	—	as long as short