Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0841%/8h= +92.1% APRpaid last 24h +0.054%

Price spread now: Hyperliquid against SunX+0.118%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Hyperliquid is 0.118% dearer against SunX than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003386	0.0100	pay 0.0050% / 4h	1h 00m	$2K	$12K	20x
Short	Hyperliquid kBONK	0.000003390	0.0941	get 0.0118% / 1h	0m 06s	$10.2M	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now +0.118%Rate

Funding earned: $176.61
Price spread: +0.118% → 0.000%: $11.81
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $171.42
Costs to cover: 0.170%
Break-even: 0.2 days

Slippage unknown: SunX: no order-book sample; Hyperliquid: 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 SunX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 2 min ago	1.48 bp	7.1 bp −$7	25.9 bp −$259	doesn't fit	doesn't fit

SunX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BONK on 31 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
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003342	−1.299%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003376	−0.295%	$1.0M	$13.5M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0086%	4h	0.000003380	−0.177%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0046%	1h	0.000003381	−0.148%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003381	−0.136%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003380	−0.177%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.308%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003381	−0.147%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003384	−0.059%	$190K	$301K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003378	−0.222%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003381	−0.161%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003380	−0.177%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003386	−0.007%	$15.3M	$51.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003384	−0.047%	$10.3M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003381	−0.148%	$2.5M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003381	−0.148%	$724K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003387	+0.030%	$10.1M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003383	−0.100%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003381	−0.148%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003384	−0.059%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003385	−0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003369	−0.501%	$303K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003372	−0.413%	$57K	$700K	25x	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003386	long leg	$2K	$12K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003382	−0.118%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003390	+0.118%	$92K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003380	−0.167%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003379	−0.207%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.400%	$565	—	100x	as long as short
Hyperliquid kBONKshort	+0.0941%	1h	0.000003390	+0.118%	$10.2M	$7.2M	10x
Kraken Futures PF_BONKUSD	+0.0956%	1h	0.000003389	+0.090%	$206K	$149K	50x	as long as short