Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.049%

Price spread now: Hyperliquid against SunX−2.100%7-day average −2.234% · 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+0.321%+$32 on $10k

Price spread, last 3 days (all we have)−1.401%−$140 · spread now −2.100%, 7d avg −2.234%

Together, before fees−1.081%+ Points / potential airdropHyperliquid: Season 2 · farm board−$108 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 0.134% dearer against SunX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −2.234%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX STRK-USDT	0.04477	0.0100	pay 0.0050% / 4h	1h 02m	$2K	$830K	20x
Short	Hyperliquid STRK	0.04383	0.0100	get 0.0013% / 1h	2m 43s	$15.0M	$7.4M	5x

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 −2.100%Rate

Funding earned: $0
Price spread: −2.100% → −2.234%: $13.4
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$3.6
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 69 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, 69 min ago	253.84 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.14 bp	7.1 bp −$7	26.2 bp −$262	doesn't fit	doesn't fit

STRK on 24 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 STRK-PERP-INTX	−0.0592%	1h	0.04355	−2.725%	$62K	$95K	25x	as long as short
dYdX STRK-USD	0.0000%	1h	0.04380	−2.158%	$20K	$24K	5x	as long as short
Bybit STRKUSDT	+0.0029%	4h	0.04377	−2.234%	$15.4M	$21.3M	50x	as long as short
Injective STRK/USDC PERP	+0.0033%	1h	0.05070	+13.245%	$3K	$38K	5.5x	as long as short
BloFin STRK-USDT	+0.0069%	4h	0.04381	−2.144%	$753K	$718K	75x	as long as short
Paradex STRK-USD-PERP	+0.0100%	8h	0.04379	−2.178%	$8K	$144	20x	as long as short
Hyperliquid STRKshort	+0.0100%	1h	0.04383	−2.100%	$15.0M	$7.4M	5x
Aster STRKUSDT	+0.0100%	4h	0.04382	−2.114%	$34K	$361K	10x	as long as short
Pacifica STRK	+0.0100%	1h	0.04380	−2.173%	$44K	$69K	5x	as long as short
Binance STRKUSDT	+0.0100%	4h	0.04381	−2.136%	$12.6M	$49.8M	75x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX STRK-USDT-SWAP	+0.0100%	4h	0.04378	−2.211%	$4.9M	$23.4M	50x	as long as short
Gate STRK_USDT	+0.0100%	4h	0.04377	−2.234%	$583K	$1.4M	50x	as long as short
MEXC STRK_USDT	+0.0100%	4h	0.04382	−2.122%	$12.2M	$2.1M	100x	as long as short
KuCoin STRKUSDTM	+0.0100%	4h	0.04380	−2.167%	$1.5M	$1.9M	50x	as long as short
Bitget STRKUSDT	+0.0100%	4h	0.04378	−2.222%	$3.1M	$4.1M	75x	as long as short
BingX STRK-USDC	+0.0100%	4h	0.04380	−2.167%	—	$719K	—	as long as short
Backpack STRK_USDC_PERP	+0.0100%	1h	0.04380	−2.167%	$25K	$148K	10x	as long as short
Variational Omni STRK	+0.0100%	4h	0.04364	−2.526%	$258K	$1.9M	—	as long as short
GRVT STRK_USDT_Perp	+0.0100%	4h	0.04370	−2.390%	$194K	$3.5M	10x	as long as short
SunX STRK-USDTlong	+0.0100%	4h	0.04477	long leg	$2K	$830K	20x
Extended STRK-USD	+0.0104%	1h	0.04378	−2.219%	$121K	$626K	10x	as long as short
Lighter STRK	+0.0352%	1h	0.04391	−1.921%	$271K	$541K	5x	as long as short
Deribit STRK_USDC-PERPETUAL	+0.0663%	1h	0.04384	−2.077%	$8K	$24K	25x	as long as short
Kraken Futures PF_STRKUSD	+0.1172%	1h	0.04379	−2.198%	$469K	$511K	20x	as long as short