Funding arb · Price arb /

MET

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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+0.091%7-day average −0.014% · you sell dearer than you buy

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.486%+$49 · spread now +0.091%, 7d avg −0.014%

Together, before fees+0.586%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 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 0.105% dearer against Hyperliquid than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2751	0.0100	pay 0.0013% / 1h	1m 04s	$3.7M	$1.8M	3x
Short	SunX MET-USDT	0.2753	0.0100	get 0.0050% / 4h	3h 01m	$1K	$1.6M	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 +0.091%Rate

Funding earned: $0
Price spread: +0.091% → −0.014%: $10.53
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$6.47
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; SunX: live order book, 4 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 Hyperliquid live order book, 10 min ago	0.72 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	504.54 bp	doesn't fit	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 −0.0616% / S +0.0183%	1h	0.2753	+0.100%	$4K	—	50x	as long as short
Phoenix MET	−0.0029%	1h	0.2752	+0.065%	$13K	$15K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2753	+0.109%	$168K	$424K	5x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2751	long leg	$3.7M	$1.8M	3x
Aster METUSDT	+0.0100%	4h	0.2752	+0.055%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2751	+0.019%	$4.7M	$12.2M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2752	+0.055%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2752	+0.055%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2749	−0.055%	$184K	$182K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2752	+0.055%	$920K	$282K	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	0.2752	+0.055%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2752	+0.055%	$667K	$896K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2754	+0.131%	$312K	$273K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2744	−0.236%	$35K	$119K	50x	as long as short
SunX MET-USDTshort	+0.0100%	4h	0.2753	+0.091%	$1K	$1.6M	20x
BloFin MET-USDT	+0.0145%	4h	0.2754	+0.127%	$281K	$88K	50x	as long as short