Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0188%/8h= −20.6% APRpaid last 24h −0.231%

Price spread now: SunX against Hyperliquid−0.127%7-day average −0.090% · you buy dearer than you sell

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.127%, 7d avg −0.090%

Together, before fees−0.296%+ Points / potential airdropHyperliquid: Season 2 · farm board−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and SunX is 0.037% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.090%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TAO	315.45	0.0288	pay 0.0036% / 1h	2m 54s	$92.7M	$106.6M	5x
Short	SunX TAO-USDT	315.05	0.0100	get 0.0050% / 4h	2m 54s	$1K	$1.9M	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 −0.127%Rate

Funding earned: −$39.51
Price spread: −0.127% → −0.090%: −$3.66
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$60.16
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; SunX: live order book, 3 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 Hyperliquid live order book, 11 min ago	0.63 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	500.14 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

TAO on 43 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
dYdX TAO-USD	0.0000%	1h	315.19	−0.081%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.97	−0.152%	$20K	—	150x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	315.08	−0.117%	$5.5M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	315.24	−0.067%	$43K	$669K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	315.05	−0.127%	$2K	$800K	5x	as long as short
Binance TAOUSDT	+0.0100%	4h	315.00	−0.143%	$91.0M	$495.0M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	315.09	−0.114%	$67.9M	$149.0M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.90	−0.174%	$26.0M	$120.6M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	314.80	−0.206%	$167K	$2K	10x	as long as short
Gate TAO_USDT	+0.0100%	4h	315.10	−0.111%	$13.0M	$50.2M	50x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TAO_USDT	+0.0100%	4h	315.39	−0.019%	$100.8M	$144.5M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	315.21	−0.076%	$17.7M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.66	−0.250%	$35.1M	$56.6M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.99	−0.146%	—	$32.8M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.70	−0.239%	$42K	$313K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	314.68	−0.244%	$533K	$969K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.73	−0.228%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	315.01	−0.139%	$77K	$862K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	315.21	−0.075%	$12K	$18K	20x	as long as short
SunX TAO-USDTshort	+0.0100%	4h	315.05	−0.127%	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	314.90	−0.174%	$110K	$535K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	315.18	−0.086%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	315.29	−0.050%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0128%	4h	315.08	−0.117%	$52K	$271K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0144% / S +0.0123%	1h	314.94	−0.163%	$428K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0151%	8h	315.26	−0.061%	$14K	$1K	10x	as long as short
Aster TAOUSDT	+0.0162%	4h	315.14	−0.098%	$1.2M	$10.4M	50x	as long as short
Extended TAO-USD	+0.0208%	1h	315.30	−0.046%	$923K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0211%	1h	315.32	−0.042%	$801K	$2.2M	10x	as long as short
Hyperliquid TAOlong	+0.0288%	1h	315.45	long leg	$92.7M	$106.6M	5x
BloFin TAO-USDT	+0.0340%	4h	315.15	−0.095%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	315.51	+0.019%	$99K	$438K	5x	as long as short
01 Exchange TAOUSD	+0.0352%	1h	315.47	+0.006%	$3K	$4K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0354%	1h	315.12	−0.103%	$22K	$1.7M	25x	as long as short
Pacifica TAO	+0.0365%	1h	315.41	−0.013%	$360K	$412K	10x	as long as short
Backpack TAO_USDC_PERP	+0.0365%	1h	315.30	−0.048%	$313K	$913K	10x	as long as short
Lighter TAO	+0.0384%	1h	315.48	+0.008%	$1.5M	$6.5M	5x	as long as short
Variational Omni TAO	+0.0413%	4h	314.58	−0.274%	$5.7M	$9.9M	—	as long as short
Phoenix TAO	+0.0581%	1h	314.50	−0.301%	$313K	$697K	5x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	315.17	−0.088%	$362	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	315.25	−0.062%	$438K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.16	+0.225%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	317.67	+0.704%	$23K	$2K	12x	as long as short