Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0521%/8h= +57.0% APRpaid last 24h +0.181%

Price spread now: Hyperliquid against MEXC+0.028%7-day average +0.105% · you sell dearer than you buy

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

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.519%+$52 on $10k

Price spread, last 7 days+0.067%+$7 · spread now +0.028%, 7d avg +0.105%

Together, before fees+0.587%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.077% cheaper against MEXC than usual: you would sell low and buy high (spread +0.028% now, against its 7-day average of +0.105%). If the spread goes back, that is −$8 on $10k: about 12 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.519% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC GRASS_USDT	0.4280	0.0100	pay 0.0050% / 4h	3h 54m	$1.6M	$2.5M	100x
Short	Hyperliquid GRASS	0.4281	0.0621	get 0.0078% / 1h	54m 48s	$16.2M	$4.1M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.028%Rate

Funding earned: $109.36
Price spread: +0.028% → +0.105%: −$7.74
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $88.62
Costs to cover: 0.130%
Break-even: 1.3 days

Slippage unknown: MEXC: live order book, 2 min ago; Hyperliquid: live order book, 8 min ago. 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 MEXC live order book, 2 min ago	1.17 bp	5.9 bp −$6	27.5 bp −$275	102.7 bp −$10.3K	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.82 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

GRASS 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
Reya GRASSRUSDPERP	−0.0110%	1h	0.4270	−0.237%	$642	—	15x	as long as short
Injective GRASS/USDC PERP	+0.0033%	1h	0.4267	−0.304%	$7	$23K	5.5x	as long as short
Binance GRASSUSDT	+0.0100%	4h	0.4280	0.000%	$10.2M	$30.6M	75x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4274	−0.138%	$24.0M	$17.3M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4278	−0.047%	$3.4M	$16.8M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4277	−0.070%	$1.2M	$1.6M	50x	as long as short
MEXC GRASS_USDTlong	+0.0100%	4h	0.4280	long leg	$1.6M	$2.5M	100x
KuCoin GRASSUSDTM	+0.0100%	4h	0.4278	−0.047%	$1.2M	$1.7M	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4273	−0.166%	$5.0M	$3.3M	75x	as long as short
BingX GRASS-USDT	+0.0100%	4h	0.4280	0.000%	—	$7.3M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GRASS	+0.0100%	4h	0.4262	−0.415%	$2.1M	$1.3M	—	as long as short
Extended GRASS-USD	+0.0104%	1h	0.4274	−0.145%	$212K	$890K	10x	as long as short
BloFin GRASS-USDT	+0.0137%	4h	0.4281	+0.023%	$550K	$325K	20x	as long as short
Kraken Futures PF_GRASSUSD	+0.0328%	1h	0.4277	−0.063%	$153K	$137K	20x	as long as short
Aster GRASSUSDT	+0.0401%	4h	0.4280	−0.009%	$59K	$241K	10x	as long as short
Hyperliquid GRASSshort	+0.0621%	1h	0.4281	+0.028%	$16.2M	$4.1M	3x
Lighter GRASS	+0.1552%	1h	0.4278	−0.040%	$853K	$935K	5x	as long as short