Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against SunX+0.165%7-day average +0.009% · 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−0.107%−$11 on $10k

Price spread, last 3 days (all we have)−0.742%−$74 · spread now +0.165%, 7d avg +0.009%

Together, before fees−0.849%+ Points / potential airdropHyperliquid: Season 2 · farm board−$85 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 0.156% dearer against SunX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MET-USDT	0.2846	0.0100	pay 0.0050% / 4h	1h 33m	$2K	$1.6M	20x
Short	Hyperliquid MET	0.2851	0.0100	get 0.0013% / 1h	33m 50s	$4.3M	$1.3M	3x

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

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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 +0.165%Rate

Funding earned: $0
Price spread: +0.165% → +0.009%: $15.62
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$1.38
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Hyperliquid: live order book, 8 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, 11 min ago	500.70 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	1.76 bp	21.9 bp −$22	doesn't fit	doesn't fit	doesn't fit

MET on 16 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
GMX MET/USD [WBTC.b-USDC]	L −0.1723% / S +0.0247%	1h	0.2846	−0.008%	$10K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2842	−0.134%	$14K	$13K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2855	+0.306%	$263K	$244K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2851	+0.165%	$4.3M	$1.3M	3x
Aster METUSDT	+0.0100%	4h	0.2850	+0.134%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2848	+0.067%	$5.0M	$11.2M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2846	0.000%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2848	+0.070%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2847	+0.035%	$193K	$188K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2848	+0.070%	$976K	$266K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2848	+0.070%	$1.3M	$2.5M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2849	+0.105%	$676K	$854K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2836	−0.351%	$37K	$111K	50x	as long as short
SunX MET-USDTlong	+0.0100%	4h	0.2846	long leg	$2K	$1.6M	20x
BloFin MET-USDT	+0.0140%	4h	0.2841	−0.176%	$290K	$79K	50x	as long as short
Backpack MET_USDC_PERP	+0.0654%	1h	0.2850	+0.151%	$331K	$257K	5x	as long as short