Funding arb · Price arb /

BRETT

all BRETT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0194%/8h= −21.3% APRpaid last 24h −0.030%

Price spread now: MEXC against Hyperliquid−0.101%7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1101.102% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.101%, 7d avg −0.068%

Together, before fees−0.024%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and MEXC is 0.034% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.068%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.030% in total (about -1.6% 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 BRETT	0.005922	0.0294	pay 0.0037% / 1h	33m 47s	$320K	$253K	3x
Short	MEXC BRETT_USDT	0.005916	0.0100	get 0.0050% / 4h	3h 33m	$12.6M	$211K	200x

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 −0.101%Rate

Funding earned: −$40.79
Price spread: −0.101% → −0.068%: −$3.35
Slippage, 4 orders: −$101.17
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$154.31
Costs to cover: 1.102%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 16 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, 16 min ago	0.85 bp	41.6 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	4.24 bp	20.1 bp −$20	166.6 bp −$1,666	290.8 bp −$29.1K	307.2 bp −$153.6K

BRETT on 14 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
GMX BRETT/USD [ETH-USDC]	L 0.0000% / S 0.0000%	1h	0.005899	−0.388%	—	—	100x	as long as short
Injective BRETT/USDC PERP	+0.0033%	1h	0.005839	−1.402%	$61	$854	5.5x	as long as short
BloFin BRETT-USDT	+0.0093%	4h	0.005923	+0.017%	$58K	$187K	50x	as long as short
Binance BRETTUSDT	+0.0100%	4h	0.005917	−0.076%	$1.2M	$2.5M	50x	as long as short
Bybit BRETTUSDT	+0.0100%	4h	0.005913	−0.152%	$2.1M	$1.8M	25x	as long as short
OKX BRETT-USDT-SWAP	+0.0100%	4h	0.005911	−0.186%	$133K	$260K	10x	as long as short
Gate BRETT_USDT	+0.0100%	4h	0.005899	−0.388%	$438K	$108K	25x	as long as short
MEXC BRETT_USDTshort	+0.0100%	4h	0.005916	−0.101%	$12.6M	$211K	200x
KuCoin BRETTUSDTM	+0.0100%	4h	0.005893	−0.490%	$311K	$81K	30x	as long as short
Bitget BRETTUSDT	+0.0100%	4h	0.005901	−0.355%	$1.4M	$639K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BRETT-USDT	+0.0100%	4h	0.005912	−0.169%	—	$1.4M	—	as long as short
Variational Omni BRETT	+0.0100%	4h	0.005910	−0.201%	$59K	$98K	—	as long as short
Hyperliquid BRETTlong	+0.0294%	1h	0.005922	long leg	$320K	$253K	3x
Kraken Futures PF_BRETTUSD	+0.1041%	1h	0.005907	−0.260%	$48K	$73K	10x	as long as short