Funding arb · Price arb /

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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 −0.005%

Price spread now: Hyperliquid against SunX−0.004%7-day average −0.040% · you buy dearer than you sell

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)−0.147%−$15 · spread now −0.004%, 7d avg −0.040%

Together, before fees−0.683%+ 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 0.036% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX STABLE-USDT	0.02471	0.0100	pay 0.0050% / 4h	2h 48m	$1K	$642K	20x
Short	Hyperliquid STABLE	0.02471	0.0100	get 0.0013% / 1h	48m 06s	$872K	$234K	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 −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.040%: $3.6
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$13.4
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 33 min ago; Hyperliquid: live order book, 37 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, 33 min ago	500.39 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 37 min ago	6.87 bp	23.0 bp −$23	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	−0.0242%	4h	0.02469	−0.073%	$19K	$7K	20x	as long as short
Lighter STABLE	+0.0096%	1h	0.02489	+0.729%	$114K	$3K	3x	as long as short
Hyperliquid STABLEshort	+0.0100%	1h	0.02471	−0.004%	$872K	$234K	3x
Binance STABLEUSDT	+0.0100%	4h	0.02469	−0.072%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02474	+0.113%	$1.5M	$819K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02474	+0.130%	$204K	$417K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02472	+0.049%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02469	−0.073%	$659K	$156K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02477	+0.251%	$174K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02474	+0.130%	$291K	$116K	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	0.02473	+0.089%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02473	+0.090%	$145K	$51K	—	as long as short
SunX STABLE-USDTlong	+0.0100%	4h	0.02471	long leg	$1K	$642K	20x
Extended STABLE-USD	+0.0104%	1h	0.02469	−0.063%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0118%	4h	0.02473	+0.089%	$114K	$8K	75x	as long as short