Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Hyperliquid+0.012%7-day average −0.033% · you sell dearer than you buy

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

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.012%, 7d avg −0.033%

Together, before fees−0.170%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 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: KuCoin is 0.045% dearer against Hyperliquid than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2723	0.0100	pay 0.0013% / 1h	33m 01s	$3.6M	$1.9M	3x
Short	KuCoin METUSDTM	0.2723	0.0100	get 0.0050% / 4h	2h 33m	$1.3M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → −0.033%: $4.48
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$16.52
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; KuCoin: live order book, 9 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, 9 min ago	1.10 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	7.31 bp	91.4 bp −$91	312.9 bp −$3,129	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 −0.0717% / S +0.0209%	1h	0.2722	−0.035%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2721	−0.080%	$13K	$14K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2722	−0.025%	$166K	$424K	5x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2723	long leg	$3.6M	$1.9M	3x
Aster METUSDT	+0.0100%	4h	0.2727	+0.146%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2723	+0.012%	$4.6M	$12.4M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2721	−0.062%	$4.7M	$3.2M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2725	+0.085%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2722	−0.025%	$179K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2722	−0.025%	$911K	$279K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTMshort	+0.0100%	4h	0.2723	+0.012%	$1.3M	$2.7M	50x
Bitget METUSDT	+0.0100%	4h	0.2725	+0.085%	$673K	$949K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2724	+0.034%	$309K	$279K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2732	+0.342%	$34K	$119K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2722	−0.025%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0104%	4h	0.2735	+0.452%	$277K	$93K	50x	as long as short