Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0438%/8h= +48.0% APRpaid last 24h +0.048%

Price spread now: Hyperliquid against SunX+0.082%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$510.511% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.158%+$16 on $10k

Price spread, last 3 days (all we have)−0.153%−$15 · spread now +0.082%, 7d avg +0.040%

Together, before fees+0.005%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Hyperliquid is 0.041% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.040%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.158% in total (about 8.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX UNI-USDT	9.1656	0.0100	pay 0.0100% / 8h	7h 13m	$37K	$1.3M	30x
Short	Hyperliquid UNI	9.1731	0.0538	get 0.0067% / 1h	13m 56s	$101.1M	$59.9M	10x

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 +0.082%Rate

Funding earned: $92.01
Price spread: +0.082% → +0.040%: $4.15
Slippage, 4 orders: −$34.09
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $45.06
Costs to cover: 0.511%
Break-even: 3.6 days

Slippage from SunX: live order book, 10 min ago; Hyperliquid: live order book, 10 min ago.

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, 10 min ago	13.81 bp	17.8 bp −$18	34.5 bp −$345	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.40 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit

UNI on 40 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
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	9.1630	−0.029%	$49K	—	150x	as long as short
Injective UNI/USDC PERP	+0.0033%	1h	8.8300	−3.662%	$660	$154K	12x	as long as short
01 Exchange UNIUSD	+0.0080%	1h	9.1647	−0.010%	$457	—	10x	as long as short
Nado UNI-PERP	+0.0100%	1h	9.1625	−0.034%	$980K	$4.3M	10x	as long as short
Aster UNIUSDT	+0.0100%	8h	9.1700	+0.048%	$1.1M	$2.9M	50x	as long as short
Pacifica UNI	+0.0100%	1h	9.1561	−0.104%	$305K	$589K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	9.1564	−0.101%	$232.6M	$603.3M	75x	as long as short
Bybit UNIUSDT	+0.0100%	8h	9.1530	−0.137%	$103.1M	$107.9M	75x	as long as short
OKX UNI-USDT-SWAP	+0.0100%	8h	9.1520	−0.148%	$56.5M	$256.6M	50x	as long as short
Arcus UNI-USD	+0.0100%	1h	9.1720	+0.070%	$283K	$622K	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate UNI_USDT	+0.0100%	8h	9.1520	−0.148%	$23.4M	$60.4M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	9.1530	−0.137%	$46.7M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	9.1520	−0.148%	$13.6M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	9.1540	−0.127%	$33.8M	$43.1M	75x	as long as short
BingX UNI-USDC	+0.0100%	8h	9.1560	−0.105%	—	$6.5M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	9.1624	−0.035%	$1.0M	$2.4M	10x	as long as short
Variational Omni UNI	+0.0100%	8h	9.1621	−0.038%	$4.2M	$4.4M	—	as long as short
edgeX UNIUSDC	+0.0100%	4h	9.1705	+0.053%	$173K	$346K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	9.1763	+0.116%	$641K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	9.1690	+0.037%	$89K	$707K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	9.1700	+0.048%	$56K	$3.3M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	9.1642	−0.015%	$85K	$386K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	9.1630	−0.028%	$16K	$1.7M	10x	as long as short
SunX UNI-USDTlong	+0.0100%	8h	9.1656	long leg	$37K	$1.3M	30x
SoDEX UNI-USD	+0.0100%	1h	9.1639	−0.019%	$22K	$711K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	9.1758	+0.111%	$724K	$4.4M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	9.1650	−0.007%	$27.6M	$4.5M	50x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	9.1626	−0.033%	$26K	—	20x	as long as short
Extended UNI-USD	+0.0104%	1h	9.1453	−0.222%	$309K	$1.6M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	9.1621	−0.038%	$33K	—	3x	as long as short
Deribit UNI_USDC-PERPETUAL	+0.0158%	1h	9.1665	+0.010%	$592K	$185K	50x	as long as short
dYdX UNI-USD	+0.0200%	1h	9.1584	−0.078%	$246K	$24K	10x	as long as short
BloFin UNI-USDT	+0.0220%	8h	9.1600	−0.061%	$10.6M	$3.6M	75x	as long as short
Coinbase International UNI-PERP-INTX	+0.0272%	1h	9.1690	+0.037%	$1.1M	$4.9M	50x	as long as short
Reya UNIRUSDPERP	+0.0367%	1h	9.1583	−0.080%	$17K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0381% / S −0.0323%	1h	9.1625	−0.033%	$579K	—	120x	as long as short
Kraken Futures PF_UNIUSD	+0.0383%	1h	9.1684	+0.030%	$5.1M	$7.1M	50x	as long as short
Hyperliquid UNIshort	+0.0538%	1h	9.1731	+0.082%	$101.1M	$59.9M	10x
Lighter UNI	+0.0960%	1h	9.1805	+0.163%	$4.7M	$5.3M	15x	as long as short
Aftermath Perps UNIUSD	+0.1012%	1h	9.1909	+0.276%	$1K	$49K	10x	as long as short