Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: SunX against Hyperliquid−0.020%7-day average +0.039% · you buy dearer than you sell

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+0.536%+$54 on $10k

Price spread, last 4 days (all we have)+0.318%+$32 · spread now −0.020%, 7d avg +0.039%

Together, before fees+0.855%+ Points / potential airdropHyperliquid: Season 2 · farm board+$85 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 0.059% cheaper against Hyperliquid than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STABLE	0.02483	0.0100	pay 0.0013% / 1h	40m 12s	$874K	$186K	3x
Short	SunX STABLE-USDT	0.02482	0.0100	get 0.0050% / 4h	1h 40m	$1K	$824K	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

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 HyperliquidbpFee SunXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → +0.039%: −$5.94
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$22.94
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 70 min ago; SunX: live order book, 62 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, 70 min ago	1.80 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 62 min ago	500.10 bp	doesn't fit	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
Lighter STABLE	+0.0096%	1h	0.02496	+0.548%	$115K	$6K	3x	as long as short
Hyperliquid STABLElong	+0.0100%	1h	0.02483	long leg	$874K	$186K	3x
Aster STABLEUSDT	+0.0100%	4h	0.02483	−0.007%	$19K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02482	−0.032%	$2.6M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02485	+0.089%	$1.5M	$739K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02483	+0.008%	$199K	$390K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02483	+0.008%	$173K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02482	−0.032%	$616K	$167K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02491	+0.330%	$184K	$30K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02483	+0.008%	$286K	$100K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02483	+0.008%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02486	+0.109%	$146K	$50K	—	as long as short
SunX STABLE-USDTshort	+0.0100%	4h	0.02482	−0.020%	$1K	$824K	20x
Extended STABLE-USD	+0.0104%	1h	0.02482	−0.019%	$14K	$149K	10x	as long as short
BloFin STABLE-USDT	+0.0149%	4h	0.02484	+0.048%	$118K	$7K	75x	as long as short