Funding arb · Price arb /

XPL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.048%

Price spread now: Hyperliquid against SunX+0.355%7-day average +0.305% · 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+0.075%+$7 on $10k

Price spread, last 4 days (all we have)+0.520%+$52 · spread now +0.355%, 7d avg +0.305%

Together, before fees+0.594%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.050% dearer against SunX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.305%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XPL-USDT	0.09640	0.0100	pay 0.0050% / 4h	1h 22m	$3K	$1.9M	20x
Short	Hyperliquid XPL	0.09674	0.0100	get 0.0013% / 1h	22m 42s	$60.7M	$48.2M	10x

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 +0.355%Rate

Funding earned: $0
Price spread: +0.355% → +0.305%: $5.01
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$11.99
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; Hyperliquid: live order book, 11 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, 3 min ago	504.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	1.40 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit

XPL on 36 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
01 Exchange XPLUSD	−0.0384%	1h	0.09654	+0.145%	$561	$708	5x	as long as short
Backpack XPL_USDC_PERP	−0.0338%	1h	0.09660	+0.207%	$182K	$231K	10x	as long as short
GMX XPL/USD [WBTC.b-USDC]	L −0.0260% / S +0.0583%	1h	0.09661	+0.218%	$106K	—	100x	as long as short
Bybit XPLUSDT	−0.0043%	4h	0.09650	+0.104%	$45.7M	$56.7M	75x	as long as short
Orderly PERP_XPL_USDC	0.0000%	4h	0.09657	+0.176%	$29K	$335K	10x	as long as short
dYdX XPL-USD	0.0000%	1h	0.09659	+0.198%	$8K	—	5x	as long as short
Reya XPLRUSDPERP	0.0000%	1h	0.07571	−21.466%	—	—	—	as long as short
Deribit XPL_USDC-PERPETUAL	0.0000%	1h	0.09662	+0.228%	$46K	$18K	25x	as long as short
gTrade (Gains Network) XPL/USD	L +0.0005% / S −0.0004%	1h	0.09660	+0.210%	$73K	—	150x	as long as short
OKX XPL-USDT-SWAP	+0.0060%	4h	0.09666	+0.270%	$8.3M	$52.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XPL-USD-PERP	+0.0065%	8h	0.09667	+0.280%	$13K	$2K	5x	as long as short
Lighter XPL	+0.0096%	1h	0.09654	+0.145%	$4.4M	$4.2M	10x	as long as short
Gate XPL_USDT	+0.0096%	4h	0.09663	+0.239%	$3.0M	$3.8M	75x	as long as short
Nado XPL-PERP	+0.0100%	1h	0.09646	+0.067%	$1.2M	$2.8M	10x	as long as short
Hyperliquid XPLshort	+0.0100%	1h	0.09674	+0.355%	$60.7M	$48.2M	10x
Aster XPLUSDT	+0.0100%	4h	0.09669	+0.296%	$245K	$497K	20x	as long as short
Pacifica XPL	+0.0100%	1h	0.09670	+0.311%	$221K	$48K	10x	as long as short
Binance XPLUSDT	+0.0100%	4h	0.09667	+0.282%	$43.8M	$108.6M	75x	as long as short
Bulk XPL-USD	+0.0100%	1h	0.09610	−0.311%	$140K	$5K	10x	as long as short
MEXC XPL_USDT	+0.0100%	4h	0.09666	+0.270%	$12.4M	$7.9M	100x	as long as short
KuCoin XPLUSDTM	+0.0100%	4h	0.09654	+0.145%	$2.3M	$1.5M	50x	as long as short
Bitget XPLUSDT	+0.0100%	4h	0.09667	+0.280%	$8.6M	$11.1M	75x	as long as short
BingX XPL-USDT	+0.0100%	4h	0.09657	+0.176%	—	$8.0M	—	as long as short
Variational Omni XPL	+0.0100%	4h	0.09583	−0.596%	$1.7M	$1.8M	—	as long as short
GRVT XPL_USDT_Perp	+0.0100%	4h	0.09583	−0.590%	$259K	$922K	10x	as long as short
ApeX Omni XPLUSDT	+0.0100%	1h	0.09630	−0.104%	$25K	$83K	50x	as long as short
Polymarket Perps XPL-USD	+0.0100%	1h	0.09664	+0.247%	$128K	$2.6M	10x	as long as short
SunX XPL-USDTlong	+0.0100%	4h	0.09640	long leg	$3K	$1.9M	20x
SoDEX XPL-USD	+0.0100%	1h	0.09660	+0.207%	$2K	$11K	10x	as long as short
HTX XPL-USDT	+0.0100%	4h	0.09649	+0.093%	$145K	$263K	20x	as long as short
Extended XPL-USD	+0.0104%	1h	0.09657	+0.176%	$636K	$1.1M	25x	as long as short
Aevo XPL-PERP	+0.0104%	1h	0.09664	+0.252%	$29K	$18K	3x	as long as short
Phoenix XPL	+0.0248%	1h	0.09610	−0.311%	$195K	$629K	10x	as long as short
BloFin XPL-USDT	+0.0340%	4h	0.09657	+0.176%	$1.7M	$1.0M	75x	as long as short
Coinbase International XPL-PERP-INTX	+0.0672%	1h	0.09670	+0.311%	$75K	$93K	50x	as long as short
Kraken Futures PF_XPLUSD	+0.3545%	1h	0.09696	+0.577%	$550K	$1.0M	10x	as long as short