Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Hyperliquid+0.093%7-day average −0.063% · you sell dearer than you buy

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now +0.093%, 7d avg −0.063%

Together, before fees−0.080%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 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: SunX is 0.156% dearer against Hyperliquid than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AXS	1.0745	0.0100	pay 0.0013% / 1h	57m 36s	$259K	$683K	5x
Short	SunX AXS-USDT	1.0755	0.0100	get 0.0050% / 4h	1h 57m	$982	$1.4M	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 +0.093%Rate

Funding earned: $0
Price spread: +0.093% → −0.063%: $15.63
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$1.37
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; SunX: live order book, 7 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 Hyperliquid live order book, 3 min ago	2.80 bp	46.0 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	500.49 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

AXS on 20 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
Injective AXS/USDC PERP	−0.1014%	1h	1.0580	−1.536%	$1K	$48K	5.5x	as long as short
Lighter AXS	+0.0096%	1h	1.0766	+0.195%	$37K	$39K	5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0750	+0.047%	$3K	—	10x	as long as short
Hyperliquid AXSlong	+0.0100%	1h	1.0745	long leg	$259K	$683K	5x
Aster AXSUSDT	+0.0100%	4h	1.0742	−0.029%	$73K	$18K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0732	−0.120%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0741	−0.037%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0730	−0.140%	$1.4M	$3.1M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0739	−0.056%	$850K	$629K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0744	−0.009%	$11.5M	$673K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0740	−0.047%	$583K	$289K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0730	−0.140%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0731	−0.130%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0746	+0.005%	$37K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0740	−0.047%	$766K	$901K	10x	as long as short
SunX AXS-USDTshort	+0.0100%	4h	1.0755	+0.093%	$982	$1.4M	20x
SoDEX AXS-USD	+0.0100%	1h	1.0743	−0.019%	$765	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0741	−0.041%	$10K	$228K	10x	as long as short
BloFin AXS-USDT	+0.0148%	4h	1.0727	−0.168%	$278K	$30K	75x	as long as short
Kraken Futures PF_AXSUSD	+0.0377%	1h	1.0752	+0.066%	$142K	$354K	20x	as long as short