Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Hyperliquid−0.438%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$174as in the Price arb table

costs, in and out, $10k−$1461.462% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 3 days (all we have)−0.205%−$20 · spread now −0.438%, 7d avg −0.156%

Together, before fees−0.150%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 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 0.282% cheaper against Hyperliquid than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −0.156%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02124	0.0100	pay 0.0013% / 1h	43m 30s	$1.3M	$728K	3x
Short	SunX SKR-USDT	0.02114	0.0100	get 0.0050% / 4h	2h 43m	$1K	$2.3M	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 −0.438%Rate

Funding earned: $0
Price spread: −0.438% → −0.156%: −$28.18
Slippage, 4 orders: −$129.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$174.4
Costs to cover: 1.462%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; SunX: live order book, 3 min ago.

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, 7 min ago	2.12 bp	23.2 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	27.66 bp	53.4 bp −$53	doesn't fit	doesn't fit	doesn't fit

SKR 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
BloFin SKR-USDT	−0.0140%	4h	0.02119	−0.202%	$238K	$151K	20x	as long as short
Lighter SKR	+0.0096%	1h	0.02116	−0.348%	$14K	$17K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02124	long leg	$1.3M	$728K	3x
Aster SKRUSDT	+0.0100%	4h	0.02120	−0.146%	$26K	$33K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02122	−0.053%	$3.6M	$11.7M	20x	as long as short
Bybit SKRUSDT	+0.0100%	4h	0.02122	−0.085%	$4.6M	$4.8M	20x	as long as short
Gate SKR_USDT	+0.0100%	4h	0.02121	−0.113%	$1.0M	$530K	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02122	−0.094%	$4.4M	$489K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02123	−0.014%	$688K	$686K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02126	+0.132%	$1.5M	$1.1M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SKR-USDT	+0.0100%	4h	0.02123	−0.014%	—	$2.3M	—	as long as short
Backpack SKR_USDC_PERP	+0.0100%	1h	0.02120	−0.184%	$50K	$231K	5x	as long as short
SunX SKR-USDTshort	+0.0100%	4h	0.02114	−0.438%	$1K	$2.3M	20x
HTX SKR-USDT	+0.0100%	4h	0.02118	−0.254%	$14K	$37K	20x	as long as short
Phoenix SKR	+0.1507%	1h	0.02126	+0.099%	$4K	$10K	3x	as long as short