Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.012%

Price spread now: Hyperliquid against BingX+0.038%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 7 days+0.008%+$1 · spread now +0.038%, 7d avg +0.081%

Together, before fees+0.033%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.043% cheaper against BingX than usual: you would sell low and buy high (spread +0.038% now, against its 7-day average of +0.081%). If the spread goes back, that is −$4 on $10k: about 3.5 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.025% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDC	117.91	0.0080	pay 0.0080% / 8h	6h 53m	—	$10.6M	—
Short	Hyperliquid SOL	117.95	0.0121	get 0.0015% / 1h	53m 09s	$716.9M	$400.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.038%Rate

Funding earned: $8.68
Price spread: +0.038% → +0.081%: −$4.33
Slippage, 4 orders: −$4.82
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$19.47
Costs to cover: 0.238%
Break-even: 22.7 days

Slippage from BingX: live order book, 15 min ago; Hyperliquid: live order book, 11 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 BingX live order book, 15 min ago	0.34 bp	5.7 bp −$6	7.7 bp −$77	13.6 bp −$1,362	23.7 bp −$11.9K
Sell Hyperliquid live order book, 11 min ago	0.42 bp	4.9 bp −$5	5.4 bp −$54	8.3 bp −$826	doesn't fit

SOL on 55 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
ApeX Omni SOLUSDT	−0.1080%	1h	118.05	+0.121%	$1.5M	$6.1M	50x	as long as short
Hibachi SOL/USDT-P	−0.0088%	1h	117.62	−0.240%	$92K	$705K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.56	−0.291%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	117.77	−0.111%	—	$610K	20x	as long as short
HTX SOL-USDT	−0.0072%	8h	117.87	−0.026%	$229.2M	$44.9M	75x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.86	−0.040%	$2.0M	$2.7M	13x	as long as short
Gate SOL_USDT	−0.0008%	8h	117.92	+0.013%	$851.5M	$649.4M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.93	+0.021%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.82	−0.072%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.76	−0.123%	$1.5M	$21.4M	3.1x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl SOL	0.0000%	43m	117.84	−0.056%	$131K	$4.0M	8.3x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.82	−0.072%	$1.8M	$4.6M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.94	+0.028%	$31.5M	$98.6M	100x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.88	−0.021%	$102K	$162K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.98	+0.067%	$7.9M	$410.6M	50x	as long as short
BingX SOL-USDClong	+0.0080%	8h	117.91	long leg	—	$10.6M	—
Orderly PERP_SOL_USDC	+0.0083%	8h	117.96	+0.043%	$1.1M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0093%	1h	117.99	+0.070%	$26.4M	$25.3M	50x	as long as short
Lighter SOL	+0.0096%	1h	117.94	+0.028%	$13.1M	$57.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.94	+0.030%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.92	+0.011%	$346K	$262K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.75	−0.134%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.74	−0.140%	$45K	$819K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.82	−0.068%	$5.7M	$41.4M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.91	+0.005%	$177.9M	$180.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.81	−0.078%	$12.8M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.98	+0.064%	$976.6M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.01	+0.089%	$821.1M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.99	+0.072%	$366.4M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.74	−0.140%	$255K	$901K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.84	−0.053%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.15	+0.208%	$136.0M	$13.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.98	+0.064%	$423.3M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.95	+0.041%	$133.6M	$207.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.93	+0.022%	$489.5M	$445.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.74	−0.140%	$23.8M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.61	−0.253%	$24.4M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.09	+0.157%	$94.9M	$399.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.64	−0.227%	$48.2M	$29.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.58	−0.276%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.88	−0.021%	$351K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.93	+0.023%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.92	+0.009%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.93	+0.024%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.94	+0.030%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.96	+0.047%	$46.0M	$100.8M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.72	−0.157%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.91	+0.005%	$8.3M	$35.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.74	−0.141%	—	$228.6M	500x	as long as short
Hyperliquid SOLshort	+0.0121%	1h	117.95	+0.038%	$716.9M	$400.8M	20x
Reya SOLRUSDPERP	+0.0187%	1h	117.89	−0.011%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.98	+0.064%	$52.3M	$74.2M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	119.50	+1.353%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	117.92	+0.013%	$3.7M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0290%	1h	118.04	+0.118%	$25K	$51K	20x	as long as short