Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0083%/8h= −9.0% APRpaid last 24h −0.004%

Price spread now: HTX against Hyperliquid−0.161%48s7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.224% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.054%+$5 · spread now −0.161%, 7d avg −0.062%

Together, before fees+0.054%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.100% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.062%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SOL	119.07	0.0100	pay 0.0013% / 1h	20m 32s	$724.8M	$396.4M	20x
Short	HTX SOL-USDT	118.88	0.0017	get 0.0017% / 8h	7h 20m	$231.2M	$44.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.161%Rate

Funding earned: −$17.33
Price spread: −0.161% → −0.062%: −$9.97
Slippage, 4 orders: −$1.36
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$49.66
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; HTX: live order book, 4 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, 4 min ago	0.42 bp	4.9 bp −$5	6.0 bp −$60	9.8 bp −$983	doesn't fit
Sell HTX live order book, 4 min ago	0.00 bp	6.3 bp −$6	11.3 bp −$113	17.8 bp −$1,782	42.9 bp −$21.4K

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
Hotstuff SOL-PERP	−0.0080%	1h	118.92	−0.129%	$930	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.90	−0.147%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.83	−0.205%	$2.0M	$2.7M	13x	as long as short
dYdX SOL-USD	−0.0022%	1h	118.98	−0.076%	$5.0M	$25.7M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.97	−0.085%	$32.4M	$97.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.93	−0.118%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.95	−0.102%	$1.2M	$20.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.97	−0.081%	$154K	$3.8M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0016%	1h	118.97	−0.085%	$100K	$657K	20x	as long as short
HTX SOL-USDTshort	+0.0017%	8h	118.88	−0.161%	$231.2M	$44.0M	75x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin SOL-PERP	+0.0026%	1h	118.92	−0.129%	$37K	$17K	25x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	118.97	−0.084%	$104K	$160K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.85	−0.186%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0082%	8h	118.92	−0.123%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.97	−0.081%	$8.1M	$409.8M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.89	−0.149%	$14.2M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.93	−0.117%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.91	−0.130%	$348K	$249K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.86	−0.177%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.93	−0.118%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.88	−0.163%	$5.9M	$40.5M	40x	as long as short
Hyperliquid SOLlong	+0.0100%	1h	119.07	long leg	$724.8M	$396.4M	20x
Aster SOLUSDT	+0.0100%	8h	118.90	−0.141%	$179.5M	$177.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.92	−0.125%	$12.2M	$124.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.94	−0.109%	$979.6M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.98	−0.076%	$824.1M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.94	−0.109%	$370.7M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	−0.176%	$233K	$830K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.92	−0.123%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.07	0.000%	$136.4M	$9.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	118.91	−0.134%	$854.7M	$668.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.98	−0.076%	$429.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.96	−0.090%	$138.6M	$203.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.94	−0.105%	$493.8M	$439.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.93	−0.118%	$24.1M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.93	−0.121%	$25.0M	$130.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.00	−0.055%	$95.6M	$403.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.15	+0.066%	$48.8M	$29.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.04	−0.025%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.91	−0.134%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.96	−0.092%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.00	−0.061%	$204K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.91	−0.133%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.94	−0.109%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.91	−0.134%	$46.6M	$99.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.89	−0.149%	$8.6M	$34.9M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0106%	1h	119.00	−0.059%	$26.7M	$24.8M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.17	+0.084%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.95	−0.098%	—	$219.4M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.92	−0.122%	$1.8M	$4.5M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	118.93	−0.121%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.050%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	118.94	−0.111%	$1.1M	$524K	25x	as long as short
Aftermath Perps SOLUSD	+0.0190%	1h	119.04	−0.028%	$25K	$50K	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.91	−0.134%	$51.8M	$76.1M	125x	as long as short