Funding arb · Price arb /

2Z

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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: SunX against Hyperliquid+0.349%7-day average +0.050% · you sell dearer than you buy

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.516%+$52 on $10k

Price spread, last 4 days (all we have)−0.238%−$24 · spread now +0.349%, 7d avg +0.050%

Together, before fees+0.278%+ Points / potential airdropHyperliquid: Season 2 · farm board+$28 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: SunX is 0.299% dearer against Hyperliquid than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid 2Z	0.05188	0.0100	pay 0.0013% / 1h	40m 40s	$653K	$351K	3x
Short	SunX 2Z-USDT	0.05206	0.0100	get 0.0050% / 4h	2h 40m	$1K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.349%Rate

Funding earned: $0
Price spread: +0.349% → +0.050%: $29.86
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: $12.86
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 39 min ago; SunX: live order book, 2 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, 39 min ago	0.86 bp	21.5 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	498.56 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0778%	1h	0.05189	+0.021%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.007%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05197	+0.175%	$16K	$6K	3x	as long as short
Hyperliquid 2Zlong	+0.0100%	1h	0.05188	long leg	$653K	$351K	3x
Aster 2ZUSDT	+0.0100%	4h	0.05178	−0.192%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05187	−0.015%	$75K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05173	−0.287%	$2.1M	$2.0M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05177	−0.210%	$721K	$940K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05174	−0.268%	$442K	$687K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05189	+0.021%	$90K	$60K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05191	+0.060%	$327K	$122K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05196	+0.162%	$177K	$50K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05168	−0.384%	$154K	$633K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05166	−0.422%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05200	+0.227%	$33K	$23K	—	as long as short
SunX 2Z-USDTshort	+0.0100%	4h	0.05206	+0.349%	$1K	$1.1M	20x
Kraken Futures PF_2ZUSD	+0.0514%	1h	0.05192	+0.071%	$5K	$3K	10x	as long as short