Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Hyperliquid against SunX+0.016%7-day average −0.042% · 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−0.536%−$54 on $10k

Price spread, last 3 days (all we have)−0.140%−$14 · spread now +0.016%, 7d avg −0.042%

Together, before fees−0.676%+ Points / potential airdropHyperliquid: Season 2 · farm board−$68 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 0.058% dearer against SunX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX STABLE-USDT	0.02484	0.0100	pay 0.0050% / 4h	56m 31s	$1K	$660K	20x
Short	Hyperliquid STABLE	0.02485	0.0100	get 0.0013% / 1h	56m 31s	$876K	$227K	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 +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.042%: $5.82
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$11.18
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Hyperliquid: live order book, 14 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	500.21 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 14 min ago	2.03 bp	24.8 bp −$25	doesn't fit	doesn't fit	doesn't fit

STABLE 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
Aster STABLEUSDT	−0.0032%	4h	0.02484	−0.020%	$19K	$6K	20x	as long as short
BloFin STABLE-USDT	+0.0041%	4h	0.02482	−0.097%	$113K	$7K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02497	+0.523%	$115K	$3K	3x	as long as short
Hyperliquid STABLEshort	+0.0100%	1h	0.02485	+0.016%	$876K	$227K	3x
Binance STABLEUSDT	+0.0100%	4h	0.02483	−0.042%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02484	+0.004%	$1.5M	$753K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02484	−0.016%	$204K	$406K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02485	+0.024%	$172K	$88K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02485	+0.024%	$663K	$154K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02491	+0.266%	$179K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02485	+0.024%	$293K	$115K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02485	+0.024%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02473	−0.452%	$145K	$50K	—	as long as short
SunX STABLE-USDTlong	+0.0100%	4h	0.02484	long leg	$1K	$660K	20x
Extended STABLE-USD	+0.0104%	1h	0.02483	−0.037%	$12K	$175K	10x	as long as short