Funding arb · Price arb /

0G

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0226%/8h= −24.8% APRpaid last 24h −0.165%

Price spread now: MEXC against Hyperliquid−0.233%7-day average −0.253% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$540.542% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.672%−$67 on $10k

Price spread, last 7 days+0.016%+$2 · spread now −0.233%, 7d avg −0.253%

Together, before fees−0.656%+ Points / potential airdropHyperliquid: Season 2 · farm board−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.021% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.233% now, against its 7-day average of −0.253%): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 0G	0.2364	0.0326	pay 0.0041% / 1h	37m 36s	$2.5M	$435K	3x
Short	MEXC 0G_USDT	0.2358	0.0100	get 0.0050% / 4h	3h 37m	$2.1M	$249K	50x

Funding 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 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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.233%Rate

Funding earned: −$47.47
Price spread: −0.233% → −0.253%: $2.05
Slippage, 4 orders: −$41.18
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$99.59
Costs to cover: 0.542%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; MEXC: live order book, 4 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	1.48 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	2.12 bp	10.2 bp −$10	28.1 bp −$281	166.2 bp −$16.6K	228.4 bp −$114.2K

0G 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
BingX 0G-USDT	−0.0382%	4h	0.2357	−0.275%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2358	−0.226%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2360	−0.153%	$16K	$49K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2359	−0.182%	$7.0M	$8.6M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2357	−0.275%	$2.4M	$2.3M	50x	as long as short
OKX 0G-USDT-SWAP	+0.0100%	4h	0.2358	−0.233%	$872K	$2.4M	20x	as long as short
Gate 0G_USDT	+0.0100%	8h	0.2357	−0.275%	$600K	$211K	50x	as long as short
MEXC 0G_USDTshort	+0.0100%	4h	0.2358	−0.233%	$2.1M	$249K	50x
KuCoin 0GUSDTM	+0.0100%	4h	0.2360	−0.161%	$2.2M	$2.2M	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2359	−0.190%	$1.9M	$803K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack 0G_USDC_PERP	+0.0100%	1h	0.2358	−0.233%	$34K	$62K	5x	as long as short
Variational Omni 0G	+0.0100%	4h	0.2356	−0.334%	$15K	$7K	—	as long as short
ApeX Omni 0GUSDT	+0.0100%	1h	0.2356	−0.305%	$18K	$628K	50x	as long as short
BloFin 0G-USDT	+0.0146%	4h	0.2357	−0.275%	$326K	$10K	50x	as long as short
Hyperliquid 0Glong	+0.0326%	1h	0.2364	long leg	$2.5M	$435K	3x
Lighter 0G	+0.0648%	1h	0.2363	−0.021%	$49K	$87K	3x	as long as short