Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Hyperliquid against SunX−0.138%7-day average −0.039% · 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−0.536%−$54 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now −0.138%, 7d avg −0.039%

Together, before fees−0.697%+ Points / potential airdropHyperliquid: Season 2 · farm board−$70 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 0.098% cheaper against SunX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX STABLE-USDT	0.02468	0.0100	pay 0.0050% / 4h	58m 10s	$2K	$843K	20x
Short	Hyperliquid STABLE	0.02465	0.0100	get 0.0013% / 1h	58m 10s	$866K	$187K	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 −0.138%Rate

Funding earned: $0
Price spread: −0.138% → −0.039%: −$9.85
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$26.85
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 34 min ago; Hyperliquid: live order book, 42 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, 34 min ago	500.36 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 42 min ago	2.01 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

STABLE 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
Lighter STABLE	+0.0096%	1h	0.02485	+0.681%	$114K	$6K	3x	as long as short
Hyperliquid STABLEshort	+0.0100%	1h	0.02465	−0.138%	$866K	$187K	3x
Aster STABLEUSDT	+0.0100%	4h	0.02473	+0.202%	$18K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02464	−0.170%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02463	−0.211%	$1.5M	$764K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02461	−0.292%	$197K	$371K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02470	+0.073%	$173K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02468	−0.008%	$611K	$155K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02474	+0.235%	$183K	$28K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02464	−0.170%	$283K	$90K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02464	−0.170%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02482	+0.560%	$145K	$50K	—	as long as short
SunX STABLE-USDTlong	+0.0100%	4h	0.02468	long leg	$2K	$843K	20x
Extended STABLE-USD	+0.0104%	1h	0.02469	+0.041%	$14K	$136K	10x	as long as short
BloFin STABLE-USDT	+0.0110%	4h	0.02481	+0.519%	$119K	$7K	75x	as long as short