Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against SunX−0.036%7-day average +0.013% · you buy dearer than you sell

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 7 days−0.107%−$11 on $10k

Price spread, last 3 days (all we have)−0.191%−$19 · spread now −0.036%, 7d avg +0.013%

Together, before fees−0.298%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 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: Hyperliquid is 0.049% cheaper against SunX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MET-USDT	0.2778	0.0100	pay 0.0050% / 4h	2h 11m	$1K	$1.6M	20x
Short	Hyperliquid MET	0.2777	0.0100	get 0.0013% / 1h	11m 53s	$3.8M	$1.7M	3x

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 −0.036%Rate

Funding earned: $0
Price spread: −0.036% → +0.013%: −$4.93
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$21.93
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; Hyperliquid: live order book, 10 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 live order book, 3 min ago	501.79 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	2.33 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit

MET on 15 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 −0.1415% / S +0.0215%	1h	0.2776	−0.074%	$9K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2786	+0.292%	$14K	$15K	5x	as long as short
Bybit METUSDT	+0.0051%	4h	0.2776	−0.072%	$4.8M	$3.1M	25x	as long as short
Lighter MET	+0.0096%	1h	0.2777	−0.036%	$168K	$421K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2777	−0.036%	$3.8M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2779	+0.026%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2778	+0.018%	$4.8M	$12.2M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2777	−0.036%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2780	+0.072%	$179K	$183K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2778	0.000%	$922K	$285K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2779	+0.036%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2780	+0.072%	$650K	$894K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2778	+0.004%	$316K	$283K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2783	+0.180%	$36K	$117K	50x	as long as short
SunX MET-USDTlong	+0.0100%	4h	0.2778	long leg	$1K	$1.6M	20x