Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.005%

Price spread now: Paradex against Hyperliquid−0.018%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Hyperliquid Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.018%, 7d avg −0.048%

Together, before fees−0.045%+ Points / potential airdropHyperliquid: Season 2 · Paradex: Active · farm board−$4 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: Paradex is 0.030% dearer against Hyperliquid than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SOL	119.72	0.0100	pay 0.0013% / 1h	17m 30s	$723.0M	$413.8M	20x
Short	Paradex SOL-USD-PERP	119.70	0.0099	get 0.0099% / 8h	2h 17m	$1.0M	$523K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$0.17
Price spread: −0.018% → −0.048%: $3.04
Slippage, 4 orders: −$26.42
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$36.56
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Paradex: live order book, 2 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, 7 min ago	0.42 bp	4.9 bp −$5	5.3 bp −$53	8.0 bp −$795	doesn't fit
Sell Paradex live order book, 2 min ago	12.79 bp	14.8 bp −$15	73.6 bp −$736	doesn't fit	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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.476%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.70	−0.018%	$849	$8K	25x	as long as short
Vest SOL-PERP	−0.0074%	1h	119.60	−0.101%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0045%	1h	119.67	−0.040%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0002%	1h	119.70	−0.013%	$5.0M	$27.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.63	−0.075%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.76	+0.032%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.66	−0.049%	$180K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0006%	1h	119.80	+0.066%	$26.9M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0025%	1h	119.65	−0.059%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0054%	8h	119.67	−0.041%	$233.1M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.63	−0.079%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.79	+0.058%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.67	−0.042%	$105K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.61	−0.088%	—	$373.7M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.60	−0.100%	$873.2M	$687.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.72	−0.002%	$13.7M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.68	−0.032%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.75	+0.021%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0099%	8h	119.70	−0.018%	$1.0M	$523K	50x
Katana Perps SOL-USD	+0.0100%	8h	119.72	0.000%	$49K	$788K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.68	−0.032%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOLlong	+0.0100%	1h	119.72	long leg	$723.0M	$413.8M	20x
Aster SOLUSDT	+0.0100%	8h	119.68	−0.032%	$180.2M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.75	+0.028%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.61	−0.094%	$980.5M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.63	−0.075%	$827.1M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.58	−0.117%	$372.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.72	0.000%	$235K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.76	+0.033%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	−0.052%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.60	−0.100%	$439.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.63	−0.075%	$141.3M	$197.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.59	−0.105%	$499.8M	$452.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.71	−0.008%	$24.4M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.82	+0.082%	$27.5M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.86	+0.117%	$96.3M	$401.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.72	+0.002%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.75	+0.021%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.80	+0.067%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.62	−0.084%	$370K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.62	−0.087%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.76	+0.034%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.75	+0.026%	$195K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.73	+0.008%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.73	+0.008%	$46.8M	$101.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.68	−0.030%	$8.8M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.78	+0.046%	$8.2M	$418.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.62	−0.083%	—	$220.9M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.75	+0.025%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0092%	1h	119.63	−0.073%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.70	−0.014%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.58	−0.116%	$1.1M	$562K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.69	−0.025%	$51.7M	$87.0M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0222%	1h	119.76	+0.031%	$35.7M	$91.2M	100x	as long as short