Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0119%/8h= +13.0% APRpaid last 24h +0.225%

Price spread now: Hyperliquid against SunX+0.145%7-day average +0.091% · you sell dearer than you buy

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+0.364%+$36 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.145%, 7d avg +0.091%

Together, before fees+0.257%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.055% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	316.59	0.0100	pay 0.0050% / 4h	53m 58s	$1K	$1.9M	20x
Short	Hyperliquid TAO	317.05	0.0219	get 0.0027% / 1h	53m 58s	$94.9M	$104.6M	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 +0.145%Rate

Funding earned: $25.02
Price spread: +0.145% → +0.091%: $5.45
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $13.47
Costs to cover: 0.170%
Break-even: 3.2 days

Slippage unknown: SunX: live order book, 2 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, 2 min ago	500.24 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.11 bp	8.1 bp −$8	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
Bulk TAO-USD	−0.0499%	1h	315.15	−0.455%	$167K	$1K	10x	as long as short
dYdX TAO-USD	0.0000%	1h	316.19	−0.128%	$126K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	316.52	−0.021%	$20K	—	150x	as long as short
ApeX Omni TAOUSDT	+0.0050%	1h	315.08	−0.477%	$46K	$252K	50x	as long as short
Kraken Futures PF_TAOUSD	+0.0056%	1h	316.68	+0.030%	$5.6M	$20.6M	50x	as long as short
Popdex TAOUSDT	+0.0096%	1h	316.16	−0.136%	$41K	$684K	20x	as long as short
Binance TAOUSDT	+0.0100%	4h	316.78	+0.060%	$91.8M	$487.5M	75x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	316.50	−0.028%	$26.1M	$119.4M	50x	as long as short
Gate TAO_USDT	+0.0100%	4h	316.70	+0.035%	$13.0M	$49.2M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	316.90	+0.098%	$105.5M	$141.9M	300x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TAOUSDTM	+0.0100%	4h	316.75	+0.051%	$17.6M	$31.6M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	316.38	−0.066%	$35.3M	$55.6M	50x	as long as short
edgeX TAOUSDC	+0.0100%	4h	315.37	−0.384%	$35K	$302K	10x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	316.40	−0.060%	$89K	$790K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	316.61	+0.007%	$12K	$18K	20x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	316.59	long leg	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	316.22	−0.117%	$109K	$527K	20x	as long as short
Phemex TAOUSDT	+0.0100%	4h	316.58	−0.003%	$3.2M	$8.1M	50x	as long as short
Aevo TAO-PERP	+0.0104%	1h	316.82	+0.072%	$174K	$998	3x	as long as short
Katana Perps TAO-USD	+0.0108%	8h	316.15	−0.139%	$2K	$780K	5x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	316.60	+0.003%	$57K	$275K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0130%	4h	316.46	−0.040%	$527K	$952K	10x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0154% / S +0.0115%	1h	316.49	−0.030%	$429K	—	100x	as long as short
01 Exchange TAOUSD	+0.0192%	1h	316.09	−0.158%	$3K	$4K	5x	as long as short
Paradex TAO-USD-PERP	+0.0208%	8h	316.24	−0.110%	$14K	$1K	10x	as long as short
Nado TAO-PERP	+0.0213%	1h	316.52	−0.021%	$820K	$2.2M	10x	as long as short
Hyperliquid TAOshort	+0.0219%	1h	317.05	+0.145%	$94.9M	$104.6M	5x
Aster TAOUSDT	+0.0239%	4h	316.70	+0.034%	$1.2M	$10.1M	50x	as long as short
Bybit TAOUSDT	+0.0245%	4h	316.75	+0.051%	$69.3M	$145.7M	50x	as long as short
BingX TAO-USDT	+0.0288%	4h	316.87	+0.088%	—	$30.3M	—	as long as short
Backpack TAO_USDC_PERP	+0.0289%	1h	317.00	+0.130%	$315K	$914K	10x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0309%	1h	316.72	+0.042%	$14K	$1.6M	25x	as long as short
BloFin TAO-USDT	+0.0340%	4h	316.39	−0.063%	$4.6M	$10.9M	100x	as long as short
Arcus TAO-USD	+0.0345%	1h	316.39	−0.063%	$100K	$488K	5x	as long as short
Pacifica TAO	+0.0365%	1h	316.33	−0.083%	$369K	$402K	10x	as long as short
Extended TAO-USD	+0.0400%	1h	316.56	−0.008%	$926K	$2.4M	25x	as long as short
Lighter TAO	+0.0440%	1h	317.01	+0.132%	$1.6M	$6.4M	5x	as long as short
Phoenix TAO	+0.0504%	1h	315.90	−0.218%	$314K	$697K	5x	as long as short
Variational Omni TAO	+0.0690%	4h	316.99	+0.127%	$5.9M	$9.7M	—	as long as short
Reya TAORUSDPERP	+0.0696%	1h	316.56	−0.009%	$364	—	20x	as long as short
RISEx TAO/USDC	+0.0991%	1h	316.10	−0.156%	$434K	$655K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.1008%	1h	316.96	+0.117%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4222%	1h	319.25	+0.840%	$23K	$2K	12x	as long as short