Funding arb · Price arb /

ME

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h 0.000%

Price spread now: Aster against Hyperliquid−0.066%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.066% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.066% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ME	0.07427	0.0100	pay 0.0013% / 1h	4m 25s	$233K	$96K	3x
Short	Aster MEUSDT	0.07422	0.0158	get 0.0079% / 4h	4m 25s	$17K	$11K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.066%Rate

Funding earned: $12.19
Price spread: −0.066% → 0.000%: −$6.56
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$11.38
Costs to cover: 0.170%
Break-even: 13.5 days

Slippage unknown: Hyperliquid: live order book, 55 min ago; Aster: no order-book sample. Net counts fees only.

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, 55 min ago	1.36 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ME on 13 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
BloFin ME-USDT	+0.0071%	4h	0.07417	−0.135%	$108K	$7K	50x	as long as short
Hyperliquid MElong	+0.0100%	1h	0.07427	long leg	$233K	$96K	3x
Binance MEUSDT	+0.0100%	4h	0.07433	+0.078%	$2.1M	$3.9M	50x	as long as short
Bybit MEUSDT	+0.0100%	4h	0.07429	+0.027%	$1.5M	$656K	25x	as long as short
OKX ME-USDT-SWAP	+0.0100%	4h	0.07422	−0.067%	$478K	$1.0M	20x	as long as short
Gate ME_USDT	+0.0100%	8h	0.07420	−0.094%	$190K	$74K	50x	as long as short
MEXC ME_USDT	+0.0100%	4h	0.07429	+0.027%	$507K	$132K	20x	as long as short
KuCoin MEUSDTM	+0.0100%	4h	0.07431	+0.054%	$207K	$25K	30x	as long as short
Bitget MEUSDT	+0.0100%	4h	0.07424	−0.040%	$646K	$409K	25x	as long as short
BingX ME-USDT	+0.0100%	4h	0.07429	+0.027%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ME	+0.0100%	4h	0.07412	−0.195%	$12K	$2K	—	as long as short
Aster MEUSDTshort	+0.0158%	4h	0.07422	−0.066%	$17K	$11K	5x
Reya MERUSDPERP	+0.0228%	1h	0.07430	+0.047%	$26K	—	15x	as long as short