Funding arb · Price arb /

XMR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1058%/8h= +115.8% APRpaid last 24h +0.281%

Price spread now: Hyperliquid against SunX−0.005%7-day average +0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.591%+$59 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.005%, 7d avg +0.069%

Together, before fees+0.635%+ Points / potential airdropHyperliquid: Season 2 · farm board+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.075% cheaper against SunX than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.069%). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.591% in total) that is about 21 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.591% in total (about 30.8% 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	SunX XMR-USDT	572.41	0.0100	pay 0.0100% / 8h	2h 31m	$2K	$1.9M	20x
Short	Hyperliquid XMR	572.38	0.1158	get 0.0145% / 1h	31m 47s	$86.3M	$70.9M	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 −0.005%Rate

Funding earned: $222.14
Price spread: −0.005% → +0.069%: −$7.47
Slippage, 4 orders: −$65.57
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $132.11
Costs to cover: 0.826%
Break-even: 2.8 days

Slippage from SunX: live order book, 4 min ago; Hyperliquid: live order book, 12 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 SunX live order book, 4 min ago	13.35 bp	34.7 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.79 bp	10.1 bp −$10	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 −0.0003%	1h	572.83	+0.073%	$37K	—	150x	as long as short
Injective XMR/USDC PERP	+0.0033%	1h	582.55	+1.771%	$3K	$3K	12x	as long as short
edgeX XMRUSDC	+0.0100%	4h	573.65	+0.217%	$1.0M	$643K	10x	as long as short
SunX XMR-USDTlong	+0.0100%	8h	572.41	long leg	$2K	$1.9M	20x
HTX XMR-USDT	+0.0100%	8h	572.05	−0.063%	$1.1M	$1.5M	20x	as long as short
Aevo XMR-PERP	+0.0232%	1h	577.61	+0.909%	$12K	—	3x	as long as short
KuCoin XMRUSDTM	+0.0322%	8h	572.00	−0.072%	$44.9M	$26.2M	50x	as long as short
dYdX XMR-USD	+0.0480%	1h	571.15	−0.220%	$103K	$44K	5x	as long as short
Bitget XMRUSDT	+0.0572%	8h	572.30	−0.019%	$9.4M	$13.3M	50x	as long as short
Binance XMRUSDT	+0.0616%	8h	572.59	+0.031%	$52.4M	$161.2M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC XMR_USDT	+0.0618%	8h	572.65	+0.042%	$19.7M	$14.6M	100x	as long as short
Gate XMR_USDT	+0.0633%	8h	572.45	+0.007%	$1.5M	$4.3M	50x	as long as short
BingX XMR-USDT	+0.0672%	8h	572.54	+0.023%	—	$5.6M	—	as long as short
Bybit XMRUSDT	+0.0715%	8h	572.06	−0.061%	$46.3M	$64.2M	75x	as long as short
Polymarket Perps XMR-USD	+0.0723%	1h	573.73	+0.231%	$27K	$2.2M	5x	as long as short
Extended XMR-USD	+0.0736%	1h	572.43	+0.003%	$3.0M	$8.2M	25x	as long as short
Kraken Futures PF_XMRUSD	+0.0749%	1h	571.86	−0.096%	$5.4M	$19.1M	50x	as long as short
Aster XMRUSDT	+0.0764%	8h	572.60	+0.033%	$642K	$2.2M	75x	as long as short
Pacifica XMR	+0.0912%	1h	572.74	+0.058%	$265K	$1.0M	10x	as long as short
Lighter XMR	+0.0928%	1h	573.05	+0.111%	$3.1M	$7.5M	10x	as long as short
Paradex XMR-USD-PERP	+0.0929%	8h	573.33	+0.160%	$8K	$4K	20x	as long as short
GRVT XMR_USDT_Perp	+0.1007%	8h	571.95	−0.081%	$330K	$728K	10x	as long as short
BloFin XMR-USDT	+0.1017%	8h	572.01	−0.070%	$2.7M	$11.2M	75x	as long as short
GMX XMR/USD [WBTC.b-USDC]	L +0.1064% / S −0.1411%	1h	572.79	+0.067%	$593K	—	100x	as long as short
Hyperliquid XMRshort	+0.1158%	1h	572.38	−0.005%	$86.3M	$70.9M	5x
Orderly PERP_XMR_USDC	+0.1185%	8h	572.63	+0.038%	$40K	$709K	10x	as long as short
Variational Omni XMR	+0.1193%	8h	571.73	−0.119%	$6.3M	$2.3M	—	as long as short
SoDEX XMR-USD	+0.1301%	1h	572.86	+0.079%	$435K	$3K	5x	as long as short
Nado XMR-PERP	+0.1334%	1h	573.85	+0.251%	$1.3M	$456K	10x	as long as short
Backpack XMR_USDC_PERP	+0.1365%	1h	572.65	+0.042%	$168K	$532K	20x	as long as short
Aftermath Perps XMRUSD	+0.2092%	1h	571.91	−0.087%	$1K	$43K	10x	as long as short