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Price arb /

INIT

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Spread before costs (cost unknown: a leg has no order-book sample)−0.069%
7d average−0.009%if it closes, per $10,000$7funding while held, a day+$0.00
Long on HyperliquidShort on MEXC
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid INIT0.081310.0100pay 0.0013% / 1h42m 21s$298K$240K3x
ShortMEXC INIT_USDT0.081250.0100get 0.0050% / 4h2h 42m$498K$202K20x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$6.89
Funding while held
$0
Slippage, 4 orders
no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee MEXC: 2 bp × 2 orders
−$4
Net
−$19.89
Spread needed to break even
0.130%
Slippage unknown: Hyperliquid: live order book, 19 min ago; MEXC: live order book, 45 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
0.0000%
Per $10,000 a day
+$0.00
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 19 min ago1.22 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell MEXC live order book, 45 min ago0.61 bp4.5 bp −$433.2 bp −$332221.6 bp −$22.2K607.8 bp −$303.9K

INIT price on every exchange

against the cheapest. Click to use as the short leg.
OKX0.08123cheapestBinance0.08124+0.012%
MEXC0.08125+0.025%
BingX0.08125+0.025%Bybit0.08126+0.037%Kraken Futures0.08128+0.057%
Hyperliquid0.08131+0.094%
Gate0.08133+0.123%Bitget0.08133+0.123%Aster0.08135+0.142%Variational Omni0.08137+0.176%KuCoin0.08139+0.197%BloFin0.08158+0.431%

INIT on 13 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
OKX INIT-USDT-SWAP−0.093%+0.0100%4h$132K$643K10xas long as short
Binance INITUSDT−0.081%+0.0100%4h$3.4M$3.7M25xas long as short
MEXC INIT_USDTshort−0.069%+0.0100%4h$498K$202K20x
BingX INIT-USDT−0.069%+0.0100%4h—$6.6M—as long as short
Bybit INITUSDT−0.057%+0.0100%4h$1.4M$1.4M25xas long as short
Kraken Futures PF_INITUSD−0.036%+0.0286%1h$6K$20K10xas long as short
Hyperliquid INITlong0.000%+0.0100%1h$298K$240K3x
Gate INIT_USDT+0.030%+0.0100%8h$83K$56K25xas long as short
Bitget INITUSDT+0.030%+0.0100%4h$426K$318K25xas long as short
Aster INITUSDT+0.049%+0.0100%4h$27K$36K5xas long as short
Show all 13 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Variational Omni INIT+0.082%+0.0100%4h$26K$22K—as long as short
KuCoin INITUSDTM+0.103%+0.0100%4h$324K$58K25xas long as short
BloFin INIT-USDT+0.337%+0.0150%4h$163K$107K25xas long as short