Funding arb · Price arb /

HUT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX+0.223%7-day average −0.064% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 2 days (all we have)0.000%$0 on $10k

Price spread, last 2 days (all we have)−0.469%−$47 · spread now +0.223%, 7d avg −0.064%

Together, before fees−0.469%−$47 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: Phemex is 0.288% dearer against SunX than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HUT-USDT	102.94	0	get 0.0000% / 8h	5h 27m	—	$158.1M	10x
Short	Phemex HUTUSDT	103.17	0	get 0.0000% / 8h	5h 27m	$128K	$121K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.223%Rate

Funding earned: $0
Price spread: +0.223% → −0.064%: $28.76
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: $8.76
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: SunX: live order book, 5 min ago; Phemex: live order book, 18 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, 5 min ago	25.66 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 18 min ago	3.87 bp	58.6 bp −$59	doesn't fit	doesn't fit	doesn't fit

HUT on 10 exchanges

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
Bybit HUTUSDT	0.0000%	8h	102.70	−0.233%	$23K	$125K	25x	as long as short
OKX HUT-USDT-SWAP	0.0000%	8h	103.00	+0.058%	$37K	$521K	20x	as long as short
QFEX HUT-USD	0.0000%	1h	103.41	+0.457%	$1.9M	$1.1M	10x	as long as short
Gate HUT_USDT	0.0000%	8h	103.24	+0.291%	$24K	$21K	20x	as long as short
Bitget HUTUSDT	0.0000%	8h	102.95	+0.010%	$59K	$114K	20x	as long as short
SunX HUT-USDTlong	0.0000%	8h	102.94	long leg	—	$158.1M	10x
HTX HUT-USDT	0.0000%	8h	103.20	+0.253%	$2K	$348K	20x	as long as short
Phemex HUTUSDTshort	0.0000%	8h	103.17	+0.223%	$128K	$121K	10x
Binance HUTUSDT	+0.0176%	8h	103.19	+0.243%	$179K	$1.5M	20x	as long as short
BloFin HUT-USDT	+0.0209%	8h	103.21	+0.262%	$46K	$30K	20x	as long as short