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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against SunX+0.094%7-day average +0.071% · 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−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.158%−$16 · spread now +0.094%, 7d avg +0.071%

Together, before fees−0.167%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 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 0.023% dearer against SunX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX AXS-USDT	1.0633	0.0100	pay 0.0050% / 4h	2h 28m	$2K	$1.3M	20x
Short	Hyperliquid AXS	1.0643	0.0100	get 0.0013% / 1h	28m 48s	$262K	$294K	5x

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 +0.094%Rate

Funding earned: $0
Price spread: +0.094% → +0.071%: $2.28
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$14.72
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Hyperliquid: live order book, 55 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	514.98 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 55 min ago	2.82 bp	23.9 bp −$24	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
Kraken Futures PF_AXSUSD	−0.0338%	1h	1.0645	+0.117%	$139K	$325K	20x	as long as short
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	+0.818%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0077%	4h	1.0630	−0.028%	$3K	—	10x	as long as short
Lighter AXS	+0.0096%	1h	1.0660	+0.254%	$28K	$36K	5x	as long as short
Hyperliquid AXSshort	+0.0100%	1h	1.0643	+0.094%	$262K	$294K	5x
Aster AXSUSDT	+0.0100%	4h	1.0639	+0.054%	$72K	$11K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0640	+0.066%	$5.9M	$9.4M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0636	+0.028%	$3.2M	$3.6M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0633	0.000%	$1.4M	$2.7M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0633	0.000%	$959K	$1.0M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC AXS_USDT	+0.0100%	4h	1.0636	+0.028%	$11.1M	$763K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0640	+0.066%	$574K	$294K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0640	+0.066%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0636	+0.028%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0625	−0.075%	$36K	$4K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0628	−0.045%	$758K	$914K	10x	as long as short
SunX AXS-USDTlong	+0.0100%	4h	1.0633	long leg	$2K	$1.3M	20x
SoDEX AXS-USD	+0.0100%	1h	1.0636	+0.028%	$702	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0639	+0.054%	$7K	$156K	10x	as long as short
BloFin AXS-USDT	+0.0157%	4h	1.0630	−0.028%	$271K	$30K	75x	as long as short