Funding you earn now, next payment 12:00 UTC−0.0277%/8h= −30.3% APRpaid last 24h −0.029%
Price spread now: MEXC against Hyperliquid−0.021%7-day average −0.111% · you buy dearer than you sell
Net, funding: paid 7d − costs−$69as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$510.514% of the position
Funding, last 7 days−0.177%−$18 on $10k
+Price spread, last 7 days+0.016%+$2 · spread now −0.021%, 7d avg −0.111%
=Together, before fees−0.162%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 on $10k · with fees, hour by hour
The price spread pays, funding is against you. MEXC is 0.090% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.111%): +$9 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.177% in total) that is about 3.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.177% in total (about -9.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SPX | 0.5200 | 0.0377 | pay 0.0047% / 1h | 9m 41s | $10.8M | $8.5M | 5x |
| Short | MEXC SPX_USDT | 0.5199 | 0.0100 | get 0.0050% / 4h | 9m 41s | $10.9M | $5.1M | 100x |
Hyperliquid SPX
MEXC SPX_USDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$58.12
- Price spread: −0.021% → −0.111%
- $9.01
- Slippage, 4 orders
- −$38.45
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$100.55
- Costs to cover
- 0.514%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; MEXC: live order book, 2 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, 6 min ago | 3.35 bp | 15.1 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.96 bp | 7.8 bp −$8 | 23.4 bp −$234 | 157.7 bp −$15.8K | doesn't fit |
SPX on 19 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni SPX | +0.0021% | 4h | 0.5183 | −0.327% | $958K | $1.7M | — | as long as short |
| Injective SPX/USDC PERP | +0.0033% | 1h | 0.5201 | +0.017% | $172 | $4K | 5.5x | as long as short |
| Lighter SPX | +0.0096% | 1h | 0.5195 | −0.096% | $125K | $387K | 5x | as long as short |
| Aster SPXUSDT | +0.0100% | 4h | 0.5195 | −0.096% | $135K | $102K | 10x | as long as short |
| Binance SPXUSDT | +0.0100% | 4h | 0.5198 | −0.046% | $5.5M | $23.6M | 75x | as long as short |
| Bybit SPXUSDT | +0.0100% | 4h | 0.5198 | −0.040% | $12.1M | $17.7M | 50x | as long as short |
| OKX SPX-USDT-SWAP | +0.0100% | 4h | 0.5194 | −0.117% | $1.0M | $3.4M | 20x | as long as short |
| Gate SPX_USDT | +0.0100% | 4h | 0.5185 | −0.290% | $1.0M | $674K | 50x | as long as short |
| MEXC SPX_USDTshort | +0.0100% | 4h | 0.5199 | −0.021% | $10.9M | $5.1M | 100x | |
| KuCoin SPXUSDTM | +0.0100% | 4h | 0.5197 | −0.060% | $3.7M | $5.5M | 50x | as long as short |
Variational Omni SPX
Injective SPX/USDC PERP
Lighter SPX
Aster SPXUSDT
Binance SPXUSDT
Bybit SPXUSDT
OKX SPX-USDT-SWAP
Gate SPX_USDT
KuCoin SPXUSDTMShow all 19 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget SPXUSDT | +0.0100% | 4h | 0.5192 | −0.156% | $2.7M | $1.4M | 50x | as long as short |
| BingX SPX-USDT | +0.0100% | 4h | 0.5187 | −0.252% | — | $7.0M | — | as long as short |
| ApeX Omni SPXUSDT | +0.0100% | 1h | 0.5208 | +0.152% | $27K | $249K | 25x | as long as short |
| SunX SPX-USDT | +0.0100% | 4h | 0.5180 | −0.387% | $8K | $1.7M | 20x | as long as short |
| Extended SPX-USD | +0.0104% | 1h | 0.5188 | −0.229% | $44K | $335K | 10x | as long as short |
| Orderly PERP_SPX_USDC | +0.0166% | 4h | 0.5199 | −0.021% | $21K | $511 | 10x | as long as short |
| BloFin SPX-USDT | +0.0340% | 4h | 0.5191 | −0.175% | $264K | $959K | 75x | as long as short |
| Hyperliquid SPXlong | +0.0377% | 1h | 0.5200 | long leg | $10.8M | $8.5M | 5x | |
| Kraken Futures PF_SPXUSD | +0.0990% | 1h | 0.5193 | −0.138% | $281K | $539K | 20x | as long as short |
Bitget SPXUSDT
BingX SPX-USDT
ApeX Omni SPXUSDT
SunX SPX-USDT
Extended SPX-USD
Orderly PERP_SPX_USDC
BloFin SPX-USDT
Kraken Futures PF_SPXUSD