Funding arb · Price arb /

MELANIA

all MELANIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h +0.002%

Price spread now: BloFin against Hyperliquid+0.245%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

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

costs, in and out, $10k−$910.910% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.886%−$89 · spread now +0.245%, 7d avg +0.096%

Together, before fees−0.826%+ Points / potential airdropHyperliquid: Season 2 · farm board−$83 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.149% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.245% now, against its 7-day average of +0.096%): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 29 days. Mind the row above: over the last 7 days funding on this pair paid +0.060%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MELANIA	0.1100	0.0100	pay 0.0013% / 1h	8m 45s	$1.7M	$206K	3x
Short	BloFin MELANIA-USDT	0.1103	0.0083	get 0.0042% / 4h	1h 08m	$199K	$6K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.245%Rate

Funding earned: −$3.56
Price spread: +0.245% → +0.096%: $14.91
Slippage, 4 orders: −$70.01
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$79.66
Costs to cover: 0.910%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; BloFin: live order book, 29 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, 2 min ago	2.27 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 29 min ago	5.03 bp	22.4 bp −$22	68.1 bp −$681	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
BloFin MELANIA-USDTshort	+0.0083%	4h	0.1103	+0.245%	$199K	$6K	75x
Hyperliquid MELANIAlong	+0.0100%	1h	0.1100	long leg	$1.7M	$206K	3x
Binance MELANIAUSDT	+0.0100%	4h	0.1100	+0.059%	$3.0M	$3.2M	75x	as long as short
Bybit MELANIAUSDT	+0.0100%	4h	0.1100	+0.055%	$1.5M	$742K	20x	as long as short
Gate MELANIA_USDT	+0.0100%	4h	0.1100	+0.018%	$422K	$67K	50x	as long as short
MEXC MELANIA_USDT	+0.0100%	4h	0.1101	+0.118%	$1.2M	$138K	100x	as long as short
Bitget MELANIAUSDT	+0.0100%	4h	0.1100	+0.055%	$962K	$217K	50x	as long as short
BingX MELANIA-USDT	+0.0100%	4h	0.1100	+0.036%	—	$1.5M	—	as long as short
Variational Omni MELANIA	+0.0100%	4h	0.1102	+0.185%	$114K	$672	—	as long as short
Aevo MELANIA-PERP	+0.0104%	1h	0.1103	+0.330%	$252K	—	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MELANIAUSDTM	+0.0374%	4h	0.1101	+0.109%	$445K	$1.4M	30x	as long as short
Aster MELANIAUSDT	+0.0825%	4h	0.1102	+0.165%	$21K	$15K	5x	as long as short
Kraken Futures PF_MELANIAUSD	+0.1859%	1h	0.1103	+0.294%	$25K	$3K	10x	as long as short