Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0029%/8h= −3.1% APRpaid last 24h −0.012%

Price spread now: BingX against Hyperliquid−0.085%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on Hyperliquid Short on BingX

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+0.065%+$6 · spread now −0.085%, 7d avg −0.032%

Together, before fees+0.040%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.053% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SOL	118.14	0.0109	pay 0.0014% / 1h	52m 34s	$718.1M	$401.0M	20x
Short	BingX SOL-USDT	118.04	0.0080	get 0.0080% / 8h	6h 52m	—	$369.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$6.03
Price spread: −0.085% → −0.032%: −$5.29
Slippage, 4 orders: −$2.35
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.67
Costs to cover: 0.214%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; BingX: live order book, 17 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 Hyperliquid live order book, 12 min ago	0.42 bp	4.9 bp −$5	5.5 bp −$55	9.3 bp −$930	doesn't fit
Sell BingX live order book, 17 min ago	0.75 bp	5.8 bp −$6	5.9 bp −$59	8.8 bp −$877	13.5 bp −$6,740

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	−0.078%	$1.5M	$6.1M	50x	as long as short
Hibachi SOL/USDT-P	−0.0088%	1h	117.92	−0.183%	$92K	$705K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.07	−0.063%	$923	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	117.94	−0.166%	—	$610K	20x	as long as short
HTX SOL-USDT	−0.0072%	8h	117.87	−0.224%	$229.2M	$44.9M	75x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.86	−0.239%	$2.0M	$2.7M	13x	as long as short
Gate SOL_USDT	−0.0020%	8h	117.99	−0.127%	$851.8M	$649.7M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.93	−0.178%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.07	−0.058%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.76	−0.322%	$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	118.09	−0.038%	$131K	$4.0M	8.3x	as long as short
RISEx SOL/USDC	+0.0018%	1h	118.04	−0.082%	$1.8M	$4.6M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.94	−0.171%	$31.5M	$98.6M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.12	−0.017%	$103K	$162K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.98	−0.132%	$7.9M	$410.6M	50x	as long as short
BingX SOL-USDTshort	+0.0080%	8h	118.04	−0.085%	—	$369.4M	—
Orderly PERP_SOL_USDC	+0.0083%	8h	117.96	−0.156%	$1.1M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0093%	1h	117.99	−0.129%	$26.4M	$25.3M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.00	−0.118%	$13.5M	$58.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.99	−0.130%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.92	−0.188%	$346K	$262K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.04	−0.082%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.04	−0.085%	$45K	$819K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.03	−0.097%	$5.7M	$41.4M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.05	−0.080%	$177.5M	$180.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.05	−0.078%	$12.9M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.10	−0.034%	$977.6M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.10	−0.033%	$821.8M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.02	−0.102%	$366.8M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.10	−0.034%	$255K	$909K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.08	−0.052%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.15	+0.008%	$136.0M	$13.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.07	−0.059%	$423.0M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.05	−0.079%	$133.7M	$207.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.00	−0.118%	$489.8M	$445.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.02	−0.102%	$23.8M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.61	−0.451%	$24.4M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.09	−0.042%	$94.9M	$399.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.64	−0.425%	$48.2M	$29.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.86	−0.237%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.04	−0.085%	$353K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.93	−0.176%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.92	−0.190%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.93	−0.175%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.94	−0.169%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.96	−0.152%	$46.0M	$100.8M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.72	−0.356%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.04	−0.081%	$8.3M	$35.7M	50x	as long as short
Hyperliquid SOLlong	+0.0109%	1h	118.14	long leg	$718.1M	$401.0M	20x
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.74	−0.340%	—	$228.6M	500x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	118.00	−0.116%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.98	−0.135%	$52.3M	$74.2M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	119.50	+1.151%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	117.92	−0.186%	$3.7M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0290%	1h	118.04	−0.081%	$25K	$51K	20x	as long as short