Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Bybit against Hyperliquid−0.101%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 7 days+0.075%+$7 · spread now −0.101%, 7d avg −0.029%

Together, before fees+0.009%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 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: Bybit is 0.072% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SOL	118.81	0.0100	pay 0.0013% / 1h	16m 20s	$718.4M	$410.5M	20x
Short	Bybit SOLUSDT	118.69	0.0100	get 0.0100% / 8h	16m 20s	$823.5M	$1.29B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.101%Rate

Funding earned: $0
Price spread: −0.101% → −0.029%: −$7.24
Slippage, 4 orders: −$1.69
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.92
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Bybit: live order book, 3 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, 8 min ago	0.42 bp	4.9 bp −$5	5.1 bp −$51	7.5 bp −$748	doesn't fit
Sell Bybit live order book, 3 min ago	0.42 bp	5.9 bp −$6	6.9 bp −$69	10.7 bp −$1,068	20.6 bp −$10.3K

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
Derive SOL-PERP	−0.0083%	1h	118.58	−0.190%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.68	−0.112%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.63	−0.149%	—	$723K	20x	as long as short
ApeX Omni SOLUSDT	−0.0026%	1h	118.71	−0.088%	$1.5M	$6.2M	50x	as long as short
dYdX SOL-USD	−0.0014%	1h	118.70	−0.091%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.68	−0.111%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.71	−0.082%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.70	−0.095%	$175K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0026%	1h	118.74	−0.057%	$26.6M	$25.8M	50x	as long as short
Gate SOL_USDT	+0.0074%	8h	118.67	−0.118%	$867.3M	$685.0M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0076%	8h	118.68	−0.113%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0079%	8h	118.63	−0.155%	$230.9M	$45.2M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.72	−0.076%	$103K	$158K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.68	−0.113%	—	$10.5M	—	as long as short
Lighter SOL	+0.0096%	1h	118.69	−0.101%	$13.4M	$56.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.68	−0.110%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.60	−0.177%	$120K	$632K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.65	−0.133%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.74	−0.056%	$8.1M	$416.9M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.73	−0.070%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.67	−0.118%	$45K	$802K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.72	−0.080%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOLlong	+0.0100%	1h	118.81	long leg	$718.4M	$410.5M	20x
Aster SOLUSDT	+0.0100%	8h	118.68	−0.111%	$178.6M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.74	−0.059%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.66	−0.127%	$977.5M	$3.84B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	118.69	−0.101%	$823.5M	$1.29B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	118.65	−0.135%	$369.8M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.63	−0.152%	$228K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.73	−0.067%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	−0.070%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.69	−0.101%	$426.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.69	−0.099%	$137.4M	$205.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.66	−0.128%	$492.2M	$460.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.70	−0.093%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.70	−0.094%	$27.0M	$129.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.65	−0.134%	$95.3M	$403.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.69	−0.103%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.61	−0.168%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.68	−0.109%	$363K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.66	−0.125%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.70	−0.096%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.68	−0.113%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.69	−0.101%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.71	−0.084%	$46.4M	$102.9M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.70	−0.093%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.66	−0.124%	$8.6M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.71	−0.081%	$32.6M	$97.4M	100x	as long as short
Aftermath Perps SOLUSD	+0.0112%	1h	118.70	−0.092%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.69	−0.101%	—	$226.6M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0068%	1h	118.68	−0.111%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.084%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.67	−0.118%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.55	−0.219%	$51.9M	$80.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.68	−0.106%	$1.8M	$5.1M	20x	as long as short