Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.229%

Price spread now: Hyperliquid against SunX+0.038%7-day average +0.090% · 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+0.379%+$38 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.038%, 7d avg +0.090%

Together, before fees+0.388%+ Points / potential airdropHyperliquid: Season 2 · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.052% cheaper against SunX than usual: you would sell low and buy high (spread +0.038% now, against its 7-day average of +0.090%). If the spread goes back, that is −$5 on $10k: about 3.4 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.379% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TAO-USDT	314.28	0.0100	pay 0.0050% / 4h	3h 53m	$1K	$1.9M	20x
Short	Hyperliquid TAO	314.40	0.0151	get 0.0019% / 1h	53m 06s	$92.2M	$106.6M	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

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 HyperliquidbpOrdersPrice spread, now +0.038%Rate

Funding earned: $10.75
Price spread: +0.038% → +0.090%: −$5.21
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$11.46
Costs to cover: 0.170%
Break-even: 14.5 days

Slippage unknown: SunX: live order book, 3 min ago; Hyperliquid: live order book, 11 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, 3 min ago	500.26 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.16 bp	8.7 bp −$9	doesn't fit	doesn't fit	doesn't fit

TAO on 43 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_TAOUSD	−0.0345%	1h	314.41	+0.041%	$5.5M	$20.6M	50x	as long as short
dYdX TAO-USD	0.0000%	1h	314.02	−0.083%	$125K	$85K	5x	as long as short
gTrade (Gains Network) TAO/USD	L +0.0004% / S −0.0004%	1h	314.10	−0.058%	$20K	—	150x	as long as short
Popdex TAOUSDT	+0.0096%	1h	314.05	−0.073%	$43K	$653K	20x	as long as short
Katana Perps TAO-USD	+0.0098%	8h	313.83	−0.143%	$1K	$807K	5x	as long as short
Pacifica TAO	+0.0100%	1h	314.26	−0.008%	$359K	$412K	10x	as long as short
Binance TAOUSDT	+0.0100%	4h	314.52	+0.076%	$90.6M	$496.1M	75x	as long as short
Bybit TAOUSDT	+0.0100%	4h	314.54	+0.083%	$67.7M	$149.2M	50x	as long as short
OKX TAO-USDT-SWAP	+0.0100%	8h	314.50	+0.070%	$26.0M	$120.8M	50x	as long as short
Bulk TAO-USD	+0.0100%	1h	315.10	+0.261%	$167K	$2K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TAO_USDT	+0.0100%	4h	313.90	−0.121%	$13.0M	$49.3M	50x	as long as short
MEXC TAO_USDT	+0.0100%	4h	314.40	+0.038%	$101.0M	$143.6M	300x	as long as short
KuCoin TAOUSDTM	+0.0100%	4h	314.26	−0.006%	$17.8M	$31.7M	75x	as long as short
Bitget TAOUSDT	+0.0100%	4h	314.23	−0.016%	$35.1M	$56.5M	50x	as long as short
BingX TAO-USDT	+0.0100%	4h	314.42	+0.045%	—	$33.0M	—	as long as short
edgeX TAOUSDC	+0.0100%	4h	314.34	+0.018%	$42K	$312K	10x	as long as short
GRVT TAO_USDT_Perp	+0.0100%	4h	313.64	−0.205%	$532K	$955K	10x	as long as short
ApeX Omni TAOUSDT	+0.0100%	1h	314.29	+0.003%	$46K	$255K	50x	as long as short
Polymarket Perps TAO-USD	+0.0100%	1h	314.05	−0.073%	$78K	$863K	5x	as long as short
Bullet TAO-USD	+0.0100%	1h	314.42	+0.044%	$11K	$18K	20x	as long as short
SunX TAO-USDTlong	+0.0100%	4h	314.28	long leg	$1K	$1.9M	20x
HTX TAO-USDT	+0.0100%	4h	313.84	−0.140%	$109K	$535K	20x	as long as short
Aevo TAO-PERP	+0.0104%	1h	314.52	+0.076%	$173K	$998	3x	as long as short
Orderly PERP_TAO_USDC	+0.0123%	4h	314.29	+0.003%	$52K	$270K	10x	as long as short
Aster TAOUSDT	+0.0137%	4h	314.00	−0.089%	$1.2M	$10.4M	50x	as long as short
GMX TAO/USD [WBTC.b-USDC]	L +0.0143% / S +0.0124%	1h	314.09	−0.061%	$426K	—	100x	as long as short
Paradex TAO-USD-PERP	+0.0144%	8h	314.15	−0.042%	$14K	$1K	10x	as long as short
Hyperliquid TAOshort	+0.0151%	1h	314.40	+0.038%	$92.2M	$106.6M	5x
Extended TAO-USD	+0.0184%	1h	314.33	+0.017%	$918K	$2.4M	25x	as long as short
Nado TAO-PERP	+0.0197%	1h	314.09	−0.060%	$798K	$2.2M	10x	as long as short
Arcus TAO-USD	+0.0231%	1h	314.17	−0.035%	$102K	$441K	5x	as long as short
BloFin TAO-USDT	+0.0340%	4h	314.49	+0.067%	$4.6M	$10.8M	100x	as long as short
Variational Omni TAO	+0.0362%	4h	313.70	−0.185%	$5.6M	$9.9M	—	as long as short
01 Exchange TAOUSD	+0.0376%	1h	314.18	−0.032%	$3K	$4K	5x	as long as short
Lighter TAO	+0.0384%	1h	314.67	+0.125%	$1.5M	$6.4M	5x	as long as short
Backpack TAO_USDC_PERP	+0.0390%	1h	314.60	+0.102%	$313K	$914K	10x	as long as short
Phoenix TAO	+0.0457%	1h	313.90	−0.121%	$312K	$711K	5x	as long as short
Deribit TAO_USDC-PERPETUAL	+0.0560%	1h	314.51	+0.072%	$21K	$1.7M	25x	as long as short
Phemex TAOUSDT	+0.0563%	4h	314.60	+0.102%	$3.2M	$8.1M	50x	as long as short
Reya TAORUSDPERP	+0.0697%	1h	314.24	−0.014%	$361	—	20x	as long as short
RISEx TAO/USDC	+0.0816%	1h	313.98	−0.095%	$434K	$653K	5x	as long as short
Coinbase International TAO-PERP-INTX	+0.0952%	1h	314.92	+0.204%	$1.5M	$6.7M	50x	as long as short
Injective TAO/USDC PERP	+0.4092%	1h	317.67	+1.079%	$23K	$2K	12x	as long as short