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: Hyperliquid against Variational Omni+0.153%7-day average +0.020% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 7 days−0.109%−$11 · spread now +0.153%, 7d avg +0.020%

Together, before fees−0.098%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$10 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: Hyperliquid is 0.133% dearer against Variational Omni than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SOL	118.63	0.0100	pay 0.0100% / 8h	16m 29s	$27.1M	$129.2M	—
Short	Hyperliquid SOL	118.81	0.0100	get 0.0013% / 1h	16m 29s	$718.4M	$410.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.153%Rate

Funding earned: $0
Price spread: +0.153% → +0.020%: $13.26
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $4.26
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Hyperliquid: live order book, 8 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 3 min ago	1.18 bp	doesn't fit	1.9 bp −$19	8.0 bp −$800	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.42 bp	4.9 bp −$5	5.4 bp −$54	9.5 bp −$952	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
Derive SOL-PERP	−0.0083%	1h	118.52	−0.089%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.68	+0.040%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.63	+0.003%	—	$723K	20x	as long as short
ApeX Omni SOLUSDT	−0.0026%	1h	118.71	+0.065%	$1.5M	$6.2M	50x	as long as short
dYdX SOL-USD	−0.0014%	1h	118.70	+0.062%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.68	+0.041%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.72	+0.073%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.70	+0.057%	$175K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0020%	1h	118.74	+0.089%	$26.6M	$25.8M	50x	as long as short
Gate SOL_USDT	+0.0074%	8h	118.70	+0.060%	$867.5M	$684.8M	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	118.61	−0.017%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0079%	8h	118.54	−0.072%	$230.8M	$45.2M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.72	+0.077%	$103K	$158K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.72	+0.073%	—	$372.8M	—	as long as short
Lighter SOL	+0.0096%	1h	118.70	+0.061%	$13.4M	$56.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.70	+0.064%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.60	−0.025%	$120K	$632K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.62	−0.004%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.72	+0.081%	$8.1M	$416.4M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.73	+0.082%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.67	+0.035%	$45K	$802K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.72	+0.073%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOLshort	+0.0100%	1h	118.81	+0.153%	$718.4M	$410.5M	20x
Aster SOLUSDT	+0.0100%	8h	118.73	+0.086%	$178.7M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.74	+0.094%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.68	+0.046%	$977.7M	$3.84B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.71	+0.071%	$823.7M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.68	+0.043%	$369.9M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.63	+0.001%	$228K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.73	+0.085%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	+0.083%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.69	+0.051%	$426.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.69	+0.053%	$137.4M	$205.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.68	+0.043%	$492.3M	$460.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.70	+0.060%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	118.63	long leg	$27.1M	$129.2M	—
edgeX SOLUSDC	+0.0100%	4h	118.65	+0.019%	$95.3M	$403.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.69	+0.049%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.61	−0.016%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.68	+0.043%	$363K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.66	+0.028%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.61	−0.013%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.58	−0.037%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.69	+0.051%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.68	+0.043%	$46.4M	$102.9M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.70	+0.060%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.66	+0.028%	$8.6M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.73	+0.089%	$32.6M	$97.4M	100x	as long as short
Aftermath Perps SOLUSD	+0.0112%	1h	118.70	+0.061%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.69	+0.052%	—	$226.5M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0068%	1h	118.58	−0.045%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.237%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.67	+0.034%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.55	−0.067%	$51.9M	$80.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.68	+0.047%	$1.8M	$5.1M	20x	as long as short