Funding arb · Price arb /

ME

all ME markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0038%/8h= +4.1% APRpaid last 24h +0.004%

Price spread now: BloFin against Hyperliquid+0.013%7-day average +0.037% · you sell dearer than you buy

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

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now +0.013%, 7d avg +0.037%

Together, before fees+0.025%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.023% cheaper against Hyperliquid than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.037%). If the spread goes back, that is −$2 on $10k: about 2.1 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ME	0.07491	0.0100	pay 0.0013% / 1h	14m 38s	$234K	$112K	3x
Short	BloFin ME-USDT	0.07492	0.0138	get 0.0069% / 4h	2h 14m	$107K	$9K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.013%Rate

Funding earned: $7.92
Price spread: +0.013% → +0.037%: −$2.35
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$15.43
Costs to cover: 0.210%
Break-even: 20.6 days

Slippage unknown: Hyperliquid: live order book, 55 min ago; BloFin: live order book, 64 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, 55 min ago	1.99 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 64 min ago	3.33 bp	22.9 bp −$23	46.2 bp −$462	doesn't fit	doesn't fit

ME 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
Hyperliquid MElong	+0.0100%	1h	0.07491	long leg	$234K	$112K	3x
Aster MEUSDT	+0.0100%	4h	0.07487	−0.049%	$13K	$21K	5x	as long as short
Binance MEUSDT	+0.0100%	4h	0.07491	−0.005%	$2.1M	$4.1M	50x	as long as short
Bybit MEUSDT	+0.0100%	4h	0.07489	−0.027%	$1.5M	$822K	25x	as long as short
OKX ME-USDT-SWAP	+0.0100%	4h	0.07489	−0.027%	$473K	$1.2M	20x	as long as short
Gate ME_USDT	+0.0100%	8h	0.07480	−0.147%	$193K	$75K	50x	as long as short
MEXC ME_USDT	+0.0100%	4h	0.07490	−0.013%	$497K	$131K	20x	as long as short
KuCoin MEUSDTM	+0.0100%	4h	0.07488	−0.040%	$214K	$32K	30x	as long as short
Bitget MEUSDT	+0.0100%	4h	0.07485	−0.080%	$641K	$438K	25x	as long as short
BingX ME-USDT	+0.0100%	4h	0.07488	−0.040%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ME	+0.0100%	4h	0.07495	+0.057%	$12K	$2K	—	as long as short
BloFin ME-USDTshort	+0.0138%	4h	0.07492	+0.013%	$107K	$9K	50x
Reya MERUSDPERP	+0.0228%	1h	0.07496	+0.064%	$26K	—	15x	as long as short