Funding arb · Price arb /

SKR

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Hyperliquid−0.289%7-day average −0.159% · you buy dearer than you sell

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$224as in the Price arb table

costs, in and out, $10k−$2112.114% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 4 days (all we have)−0.190%−$19 · spread now −0.289%, 7d avg −0.159%

Together, before fees−0.156%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 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 0.131% cheaper against Hyperliquid than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.159%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SKR	0.02177	0.0100	pay 0.0013% / 1h	24m 10s	$1.4M	$817K	3x
Short	SunX SKR-USDT	0.02171	0.0100	get 0.0050% / 4h	3h 24m	$2K	$2.3M	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

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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 HyperliquidbpFee SunXbpOrdersPrice spread, now −0.289%Rate

Funding earned: $0
Price spread: −0.289% → −0.159%: −$13.06
Slippage, 4 orders: −$194.38
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$224.45
Costs to cover: 2.114%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; SunX: live order book, 2 min ago.

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, 6 min ago	4.36 bp	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	29.58 bp	60.1 bp −$60	doesn't fit	doesn't fit	doesn't fit

SKR on 15 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
BloFin SKR-USDT	+0.0019%	4h	0.02172	−0.243%	$242K	$173K	20x	as long as short
BingX SKR-USDT	+0.0070%	4h	0.02177	−0.037%	—	$2.4M	—	as long as short
Lighter SKR	+0.0096%	1h	0.02171	−0.285%	$9K	$20K	3x	as long as short
Hyperliquid SKRlong	+0.0100%	1h	0.02177	long leg	$1.4M	$817K	3x
Aster SKRUSDT	+0.0100%	4h	0.02177	−0.009%	$30K	$38K	5x	as long as short
Binance SKRUSDT	+0.0100%	4h	0.02176	−0.083%	$3.8M	$13.8M	20x	as long as short
MEXC SKR_USDT	+0.0100%	4h	0.02175	−0.106%	$4.5M	$480K	20x	as long as short
KuCoin SKRUSDTM	+0.0100%	4h	0.02176	−0.064%	$665K	$736K	20x	as long as short
Bitget SKRUSDT	+0.0100%	4h	0.02177	−0.018%	$1.6M	$1.4M	20x	as long as short
SunX SKR-USDTshort	+0.0100%	4h	0.02171	−0.289%	$2K	$2.3M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SKR-USDT	+0.0100%	4h	0.02184	+0.285%	$14K	$34K	20x	as long as short
Bybit SKRUSDT	+0.0289%	4h	0.02176	−0.087%	$4.6M	$5.4M	20x	as long as short
Gate SKR_USDT	+0.0604%	4h	0.02176	−0.073%	$1.1M	$576K	20x	as long as short
Phoenix SKR	+0.0747%	1h	0.02181	+0.138%	$4K	$10K	3x	as long as short
Backpack SKR_USDC_PERP	+0.0815%	1h	0.02175	−0.096%	$52K	$165K	5x	as long as short