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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Hyperliquid−0.183%7-day average −0.145% · you buy dearer than you sell

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

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.183%, 7d avg −0.145%

Together, before fees−0.079%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 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 0.038% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LAYER	0.07708	0.0100	pay 0.0013% / 1h	12m 42s	$598K	$162K	3x
Short	MEXC LAYER_USDT	0.07694	0.0100	get 0.0050% / 4h	3h 12m	$375K	$133K	20x

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

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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 HyperliquidbpFee MEXCbpOrdersPrice spread, now −0.183%Rate

Funding earned: $0
Price spread: −0.183% → −0.145%: −$3.77
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$12.77
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 7 min ago; MEXC: live order book, 23 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 Hyperliquid live order book, 7 min ago	1.36 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 23 min ago	2.60 bp	15.8 bp −$16	48.8 bp −$488	113.7 bp −$11.4K	doesn't fit

LAYER 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
Kraken Futures PF_LAYERUSD	−0.0001%	1h	0.07696	−0.163%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.632%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0071%	4h	0.07700	−0.105%	$115K	$15K	50x	as long as short
Hyperliquid LAYERlong	+0.0100%	1h	0.07708	long leg	$598K	$162K	3x
Aster LAYERUSDT	+0.0100%	4h	0.07697	−0.138%	$10K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07693	−0.190%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07687	−0.274%	$718K	$700K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07704	−0.053%	$142K	$41K	20x	as long as short
MEXC LAYER_USDTshort	+0.0100%	4h	0.07694	−0.183%	$375K	$133K	20x
Bitget LAYERUSDT	+0.0100%	4h	0.07694	−0.183%	$1.1M	$119K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07697	−0.144%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07700	−0.105%	$17K	$192K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07692	−0.206%	$844	$161K	5x	as long as short