Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0893%/8h= −97.8% APRpaid last 24h −0.157%

Price spread now: SunX against Hyperliquid+0.028%7-day average — · 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 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. SunX is 0.028% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 3 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid kBONK	0.000003539	0.0993	pay 0.0124% / 1h	20m 29s	$12.1M	$8.3M	10x
Short	SunX BONK-USDT	0.000003540	0.0100	get 0.0050% / 4h	20m 29s	$2K	$15K	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 +0.028%Rate

Funding earned: −$187.47
Price spread: +0.028% → 0.000%: $2.83
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$201.65
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 2 min ago; SunX: no order-book sample. 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, 2 min ago	2.82 bp	12.7 bp −$13	33.9 bp −$339	doesn't fit	doesn't fit
Sell SunX no order-book sample	—	—	—	—	—

SunX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BONK 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
Coinbase International 1000BONK-PERP-INTX	−0.0040%	1h	0.000003527	−0.339%	$43K	$66K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003530	−0.245%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003533	−0.167%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.488%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0068%	4h	0.000003538	−0.028%	$1.1M	$20.3M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003531	−0.228%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003527	−0.325%	$69K	$138K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003536	−0.099%	$59K	$319K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003533	−0.170%	$117K	$149K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003533	−0.170%	$18.3M	$87.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003527	−0.339%	$12.4M	$26.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003529	−0.283%	$3.0M	$14.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003529	−0.283%	$941K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003530	−0.254%	$11.2M	$9.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003530	−0.243%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003529	−0.283%	$4.6M	$5.3M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003529	−0.283%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003531	−0.215%	$332K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003509	−0.848%	$59K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003533	−0.170%	$30K	$51K	20x	as long as short
SunX BONK-USDTshort	+0.0100%	4h	0.000003540	+0.028%	$2K	$15K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003535	−0.113%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003536	−0.085%	$100K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003530	−0.267%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003526	−0.367%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.230%	$540	—	100x	as long as short
Lighter 1000BONK	+0.0440%	1h	0.000003534	−0.141%	$248K	$768K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0600%	1h	0.000003533	−0.170%	$35K	$164K	10x	as long as short
Hyperliquid kBONKlong	+0.0993%	1h	0.000003539	long leg	$12.1M	$8.3M	10x
Backpack kBONK_USDC_PERP	+0.1667%	1h	0.000003540	+0.028%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4504%	1h	0.000003538	−0.022%	$180K	$276K	50x	as long as short