Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: MEXC against Hyperliquid−0.153%7-day average −0.131% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.156%−$16 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.153%, 7d avg −0.131%

Together, before fees−0.099%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 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: MEXC is 0.022% cheaper against Hyperliquid than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.131%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.3657	0.0100	pay 0.0013% / 1h	12m 48s	$3.9M	$4.3M	5x
Short	MEXC AR_USDT	4.3590	0.0100	get 0.0100% / 8h	7h 12m	$6.2M	$3.8M	100x

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 −0.153%Rate

Funding earned: $0
Price spread: −0.153% → −0.131%: −$2.21
Slippage, 4 orders: −$23.79
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$39
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 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, 9 min ago	2.67 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.16 bp	3.2 bp −$3	17.7 bp −$177	211.9 bp −$21.2K	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSD	−0.0989%	1h	4.3637	−0.046%	$49K	$152K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.3535	−0.280%	$559K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+1.335%	$2K	$5K	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.3657	long leg	$3.9M	$4.3M	5x
Aster ARUSDT	+0.0100%	8h	4.3615	−0.096%	$32K	$240K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3615	−0.096%	$8.6M	$43.0M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3595	−0.142%	$4.5M	$8.1M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3580	−0.176%	$2.3M	$13.7M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3540	−0.268%	$2.3M	$3.6M	50x	as long as short
MEXC AR_USDTshort	+0.0100%	8h	4.3590	−0.153%	$6.2M	$3.8M	100x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.3600	−0.131%	$1.1M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.3560	−0.222%	$3.7M	$4.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.3580	−0.176%	—	$2.7M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4049	+0.897%	$251K	$510K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.3620	−0.085%	$21K	$706K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3503	−0.353%	$37K	$243K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3490	−0.383%	$417K	$427K	20x	as long as short