Funding arb · Price arb /

HEMI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: KuCoin against SunX−2.183%7-day average −2.292% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.929%−$93 on $10k

Price spread, last 4 days (all we have)−0.733%−$73 · spread now −2.183%, 7d avg −2.292%

Together, before fees−1.662%−$166 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: KuCoin is 0.108% dearer against SunX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −2.292%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX HEMI-USDT	0.006687	0.0100	pay 0.0050% / 4h	38m 59s	$1K	$1.2M	20x
Short	KuCoin HEMIUSDTM	0.006541	0.0100	get 0.0050% / 4h	38m 59s	$846K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SunX. 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 SunXbpFee KuCoinbpOrdersPrice spread, now −2.183%Rate

Funding earned: $0
Price spread: −2.183% → −2.292%: $10.83
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.17
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 4 min ago; KuCoin: live order book, 2 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, 4 min ago	252.74 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	14.48 bp	181.6 bp −$182	doesn't fit	doesn't fit	doesn't fit

HEMI on 12 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 HEMIUSDT	+0.0100%	4h	0.006540	−2.205%	$75K	$48K	5x	as long as short
Bybit HEMIUSDT	+0.0100%	4h	0.006540	−2.198%	$1.7M	$1.5M	25x	as long as short
KuCoin HEMIUSDTMshort	+0.0100%	4h	0.006541	−2.183%	$846K	$1.7M	20x
Variational Omni HEMI	+0.0100%	4h	0.006536	−2.261%	$23K	$3K	—	as long as short
SunX HEMI-USDTlong	+0.0100%	4h	0.006687	long leg	$1K	$1.2M	20x
BloFin HEMI-USDT	+0.0142%	4h	0.006545	−2.124%	$364K	$57K	20x	as long as short
Extended HEMI-USD	+0.0144%	1h	0.006543	−2.147%	$17K	—	5x	as long as short
MEXC HEMI_USDT	+0.0146%	4h	0.006544	−2.138%	$1.7M	$284K	50x	as long as short
Binance HEMIUSDT	+0.0146%	4h	0.006543	−2.146%	$6.6M	$10.8M	20x	as long as short
BingX HEMI-USDT	+0.0158%	4h	0.006540	−2.198%	—	$1.4M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate HEMI_USDT	+0.0242%	4h	0.006543	−2.153%	$510K	$279K	20x	as long as short
Hyperliquid HEMI	+0.0884%	1h	0.006552	−2.019%	$1.1M	$346K	3x	as long as short