Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0462%/8h= −50.5% APRpaid last 24h −0.047%

Price spread now: SunX against Hyperliquid−0.443%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$480.480% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 4 days (all we have)+1.001%+$100 · spread now −0.443%, 7d avg −0.042%

Together, before fees+0.835%+ Points / potential airdropHyperliquid: Season 2 · farm board+$84 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and SunX is 0.400% cheaper against Hyperliquid than usual: you would sell low and buy high (−$40 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.165% in total (about -8.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid UNI	9.3059	0.0562	pay 0.0070% / 1h	18m 23s	$101.6M	$60.6M	10x
Short	SunX UNI-USDT	9.2647	0.0100	get 0.0100% / 8h	5h 18m	$38K	$1.3M	30x

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 −0.443%Rate

Funding earned: −$96.92
Price spread: −0.443% → −0.042%: −$40.05
Slippage, 4 orders: −$30.95
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$184.92
Costs to cover: 0.480%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; SunX: live order book, 6 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, 5 min ago	0.70 bp	5.4 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	12.73 bp	17.7 bp −$18	36.2 bp −$362	doesn't fit	doesn't fit

UNI on 40 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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	9.2675	−0.413%	$51K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−5.114%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0048%	1h	9.3201	+0.153%	$465	$5	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.2910	−0.160%	$972K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.3156	+0.104%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.2979	−0.086%	$303K	$573K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.2711	−0.373%	$230.5M	$617.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.2590	−0.504%	$104.0M	$109.0M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.2580	−0.515%	$57.4M	$258.9M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.3280	+0.237%	$295K	$614K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.2700	−0.386%	$23.2M	$61.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.2800	−0.278%	$49.7M	$25.3M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.2950	−0.117%	$14.0M	$12.9M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.2600	−0.493%	$33.8M	$43.2M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.2650	−0.440%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.2888	−0.184%	$1.0M	$2.2M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1888	−1.258%	$4.3M	$4.2M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1904	−1.241%	$173K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.2276	−0.841%	$646K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1920	−1.224%	$90K	$693K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.2880	−0.192%	$45K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.2965	−0.101%	$89K	$415K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.2640	−0.450%	$17K	$1.7M	10x	as long as short
SunX UNI-USDTshort	+0.0100%	8h	9.2647	−0.443%	$38K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	9.2640	−0.450%	$22K	$770K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.2920	−0.149%	$727K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.2860	−0.214%	$28.1M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.2916	−0.154%	$27K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.2581	−0.514%	$311K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.2623	−0.468%	$33K	—	3x	as long as short
dYdX UNI-USD	+0.0114%	1h	9.3001	−0.062%	$245K	$31K	10x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0115%	1h	9.2678	−0.410%	$594K	$193K	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.2830	−0.246%	$10.6M	$3.6M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0264%	1h	9.2768	−0.312%	$5.2M	$7.6M	50x	as long as short
Coinbase International UNI-PERP-INTX	+0.0296%	1h	9.2720	−0.364%	$1.1M	$5.4M	50x	as long as short
Reya UNIRUSDPERP	+0.0371%	1h	9.2876	−0.197%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0244%	1h	9.2692	−0.394%	$660K	—	120x	as long as short
Hyperliquid UNIlong	+0.0562%	1h	9.3059	long leg	$101.6M	$60.6M	10x
Lighter UNI	+0.0576%	1h	9.3055	−0.004%	$4.8M	$5.7M	15x	as long as short
Aftermath Perps UNIUSD	+0.0976%	1h	9.2294	−0.822%	$1K	$47K	10x	as long as short