Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1837%/8h= −201.1% APRpaid last 24h −0.177%

Price spread now: SunX against Hyperliquid−0.268%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$770.770% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.473%−$47 on $10k

Price spread, last 3 days (all we have)+0.236%+$24 · spread now −0.268%, 7d avg −0.065%

Together, before fees−0.237%+ Points / potential airdropHyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and SunX is 0.202% cheaper against Hyperliquid than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.473% in total (about -24.7% 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 XMR	597.37	0.1937	pay 0.0242% / 1h	50m 15s	$88.1M	$67.1M	5x
Short	SunX XMR-USDT	595.77	0.0100	get 0.0100% / 8h	1h 50m	$2K	$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 −0.268%Rate

Funding earned: −$385.74
Price spread: −0.268% → −0.065%: −$20.25
Slippage, 4 orders: −$59.98
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$482.97
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; SunX: live order book, 5 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, 4 min ago	1.60 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	13.92 bp	25.3 bp −$25	doesn't fit	doesn't fit	doesn't fit

XMR on 31 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) XMR/USD	L +0.0010% / S −0.0009%	1h	595.23	−0.358%	$44K	—	150x	as long as short
Bybit XMRUSDT	+0.0100%	8h	596.22	−0.193%	$48.2M	$61.4M	75x	as long as short
edgeX XMRUSDC	+0.0100%	4h	594.48	−0.484%	$1.1M	$666K	10x	as long as short
SunX XMR-USDTshort	+0.0100%	8h	595.77	−0.268%	$2K	$1.9M	20x
Aevo XMR-PERP	+0.0168%	1h	595.46	−0.320%	$12K	—	3x	as long as short
Variational Omni XMR	+0.0246%	8h	594.49	−0.481%	$6.9M	$2.7M	—	as long as short
MEXC XMR_USDT	+0.0332%	8h	596.40	−0.162%	$22.6M	$14.9M	100x	as long as short
Binance XMRUSDT	+0.0332%	8h	596.49	−0.147%	$54.8M	$162.7M	75x	as long as short
BingX XMR-USDT	+0.0372%	8h	596.39	−0.164%	—	$5.8M	—	as long as short
Kraken Futures PF_XMRUSD	+0.0382%	1h	595.45	−0.322%	$5.7M	$20.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica XMR	+0.0387%	1h	595.90	−0.246%	$270K	$1.0M	10x	as long as short
Bitget XMRUSDT	+0.0391%	8h	596.39	−0.164%	$9.9M	$14.2M	50x	as long as short
Gate XMR_USDT	+0.0454%	8h	595.39	−0.331%	$1.6M	$4.5M	50x	as long as short
BloFin XMR-USDT	+0.0474%	8h	594.52	−0.477%	$2.8M	$11.4M	75x	as long as short
Aster XMRUSDT	+0.0528%	8h	595.48	−0.317%	$675K	$2.3M	75x	as long as short
KuCoin XMRUSDTM	+0.0565%	8h	594.84	−0.424%	$48.6M	$25.8M	50x	as long as short
GRVT XMR_USDT_Perp	+0.0590%	8h	595.53	−0.309%	$347K	$782K	10x	as long as short
Injective XMR/USDC PERP	+0.0695%	1h	591.89	−0.917%	$3K	$6K	12x	as long as short
Polymarket Perps XMR-USD	+0.0711%	1h	596.66	−0.119%	$23K	$1.8M	5x	as long as short
Lighter XMR	+0.0736%	1h	595.86	−0.253%	$3.5M	$6.7M	10x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.0823% / S −0.1341%	1h	595.28	−0.350%	$341K	—	100x	as long as short
Paradex XMR-USD-PERP	+0.0882%	8h	595.97	−0.235%	$8K	$4K	20x	as long as short
Backpack XMR_USDC_PERP	+0.0892%	1h	594.02	−0.561%	$202K	$574K	20x	as long as short
Orderly PERP_XMR_USDC	+0.0896%	8h	596.01	−0.228%	$48K	$719K	10x	as long as short
SoDEX XMR-USD	+0.0941%	1h	596.35	−0.171%	$453K	$3K	5x	as long as short
dYdX XMR-USD	+0.1298%	1h	594.29	−0.516%	$108K	$50K	5x	as long as short
Extended XMR-USD	+0.1688%	1h	596.20	−0.196%	$3.1M	$6.8M	25x	as long as short
Nado XMR-PERP	+0.1690%	1h	596.49	−0.148%	$1.3M	$479K	10x	as long as short
Hyperliquid XMRlong	+0.1937%	1h	597.37	long leg	$88.1M	$67.1M	5x
HTX XMR-USDT	+0.2167%	8h	593.56	−0.638%	$1.1M	$1.5M	20x	as long as short
Aftermath Perps XMRUSD	+0.2462%	1h	595.99	−0.231%	$2K	$47K	10x	as long as short