Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Hyperliquid−0.133%7-day average −0.065% · you buy dearer than you sell

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

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days+0.090%+$9 · spread now −0.133%, 7d avg −0.065%

Together, before fees+0.107%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 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: Binance is 0.069% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2779	0.0100	pay 0.0013% / 1h	49m 34s	$3.8M	$1.7M	3x
Short	Binance METUSDT	0.2775	0.0100	get 0.0050% / 4h	49m 34s	$4.8M	$12.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.133%Rate

Funding earned: $0
Price spread: −0.133% → −0.065%: −$6.86
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$25.86
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 2 min ago; Binance: live order book, 6 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, 2 min ago	0.54 bp	18.9 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	3.60 bp	19.2 bp −$19	91.8 bp −$918	doesn't fit	doesn't fit

MET on 16 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
GMX MET/USD [WBTC.b-USDC]	L −0.0498% / S +0.0175%	1h	0.2780	+0.035%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2786	+0.248%	$14K	$15K	5x	as long as short
Bybit METUSDT	+0.0017%	4h	0.2776	−0.097%	$4.8M	$3.2M	25x	as long as short
BloFin MET-USDT	+0.0070%	4h	0.2782	+0.119%	$285K	$89K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2776	−0.097%	$168K	$425K	5x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2779	long leg	$3.8M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2779	+0.006%	$52K	$11K	5x	as long as short
Binance METUSDTshort	+0.0100%	4h	0.2775	−0.133%	$4.8M	$12.2M	50x
OKX MET-USDT-SWAP	+0.0100%	4h	0.2777	−0.061%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2776	−0.097%	$178K	$171K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2777	−0.061%	$933K	$280K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2779	+0.011%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2777	−0.061%	$649K	$865K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2782	+0.108%	$315K	$310K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2778	−0.025%	$36K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2779	+0.011%	$1K	$1.6M	20x	as long as short