Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Hyperliquid against BingX−0.129%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$940.939% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 7 days+0.058%+$6 · spread now −0.129%, 7d avg −0.075%

Together, before fees−0.007%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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 0.054% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MELANIA-USDT	0.1087	0.0100	pay 0.0050% / 4h	3h 52m	—	$1.5M	—
Short	Hyperliquid MELANIA	0.1086	0.0100	get 0.0013% / 1h	52m 03s	$1.7M	$222K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee HyperliquidbpOrdersPrice spread, now −0.129%Rate

Funding earned: $0
Price spread: −0.129% → −0.075%: −$5.35
Slippage, 4 orders: −$74.93
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$99.28
Costs to cover: 0.939%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Hyperliquid: live order book, 9 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 BingX live order book, 8 min ago	6.44 bp	24.1 bp −$24	100.1 bp −$1,001	569.9 bp −$57.0K	816.4 bp −$408.2K
Sell Hyperliquid live order book, 9 min ago	1.84 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit

MELANIA 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
Hyperliquid MELANIAshort	+0.0100%	1h	0.1086	−0.129%	$1.7M	$222K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1087	−0.064%	$2.9M	$3.4M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1087	−0.037%	$1.5M	$855K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1085	−0.221%	$409K	$120K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1087	−0.028%	$1.2M	$138K	100x	as long as short
KuCoin MELANIAUSDTM	+0.0100%	4h	0.1086	−0.120%	$407K	$2.1M	30x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1087	+0.018%	$933K	$249K	50x	as long as short
BingX MELANIA-USDTlong	+0.0100%	4h	0.1087	long leg	—	$1.5M	—
Variational Omni MELANIA	+0.0100%	4h	0.1089	+0.149%	$113K	$672	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1085	−0.212%	$248K	—	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin MELANIA-USDT	+0.0117%	4h	0.1088	+0.092%	$190K	$5K	75x	as long as short
Aster MELANIAUSDT	+0.0619%	4h	0.1086	−0.101%	$21K	$17K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.2804%	1h	0.1088	+0.060%	$25K	$3K	10x	as long as short