Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Hyperliquid against Arcus−0.061%7-day average +0.002% · 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−$23as in the Price arb table

costs, in and out, $10k−$160.165% of the position

Long on Arcus Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.061%, 7d avg +0.002%

Together, before fees+0.044%+ Points / potential airdropHyperliquid: Season 2 · 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: Hyperliquid is 0.063% cheaper against Arcus than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus SOL-USD	119.18	0.0100	pay 0.0013% / 1h	37m 38s	$1.9M	$8.9M	20x
Short	Hyperliquid SOL	119.10	0.0100	get 0.0013% / 1h	37m 38s	$718.0M	$412.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Arcus. 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 ArcusbpFee HyperliquidbpOrdersPrice spread, now −0.061%Rate

Funding earned: $0
Price spread: −0.061% → +0.002%: −$6.27
Slippage, 4 orders: −$2.98
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$22.75
Costs to cover: 0.165%
Break-even: never at this rate

Slippage from Arcus: live order book, 2 min ago; Hyperliquid: live order book, 6 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 Arcus live order book, 2 min ago	0.29 bp	3.8 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.42 bp	4.9 bp −$5	5.9 bp −$59	8.5 bp −$850	14.0 bp −$6,977

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	118.89	−0.241%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.85	−0.273%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0081%	1h	118.77	−0.340%	—	$724K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.72	−0.381%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0033%	1h	118.83	−0.292%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.93	−0.207%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.86	−0.267%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.86	−0.267%	$179K	$4.0M	8.3x	as long as short
dYdX SOL-USD	0.0000%	1h	119.09	−0.077%	$4.9M	$26.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0042%	1h	118.74	−0.367%	$1.5M	$6.2M	50x	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	+0.0060%	8h	118.94	−0.200%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0068%	8h	118.66	−0.433%	$231.2M	$43.6M	75x	as long as short
BingX SOL-USDT	+0.0070%	8h	119.10	−0.062%	—	$371.4M	—	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.89	−0.241%	$105K	$151K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0074%	1h	119.00	−0.147%	$26.7M	$27.7M	50x	as long as short
Gate SOL_USDT	+0.0083%	8h	119.00	−0.149%	$859.3M	$679.0M	100x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.79	−0.322%	$123K	$606K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.07	−0.090%	$13.5M	$53.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.01	−0.138%	$2.0M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.93	−0.208%	$353K	$741K	20x	as long as short
KuCoin SOLUSDTM	+0.0098%	8h	119.06	−0.101%	$143.5M	$196.6M	75x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.10	−0.068%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.13	−0.039%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.74	−0.364%	$5.5M	$40.6M	40x	as long as short
Hyperliquid SOLshort	+0.0100%	1h	119.10	−0.061%	$718.0M	$412.8M	20x
Aster SOLUSDT	+0.0100%	8h	119.02	−0.133%	$179.2M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.10	−0.067%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.08	−0.079%	$972.6M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.11	−0.052%	$823.7M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.10	−0.065%	$370.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.08	−0.081%	$233K	$863K	10x	as long as short
Arcus SOL-USDlong	+0.0100%	1h	119.18	long leg	$1.9M	$8.9M	20x
MEXC SOL_USDT	+0.0100%	8h	119.07	−0.090%	$467.9M	$1.08B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.09	−0.070%	$497.0M	$448.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.97	−0.174%	$24.3M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.76	−0.354%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.71	−0.390%	$95.3M	$397.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.74	−0.364%	$48.6M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	−0.316%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.86	−0.266%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.89	−0.240%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.91	−0.225%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.91	−0.222%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.92	−0.216%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.89	−0.241%	$46.4M	$99.8M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	−0.392%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.10	−0.066%	$8.6M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.97	−0.174%	$8.1M	$414.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.83	−0.291%	—	$217.2M	500x	as long as short
Phoenix SOL	+0.0154%	1h	118.79	−0.325%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.93	−0.206%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.18	+0.006%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.86	−0.264%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.63	−0.459%	$51.6M	$86.7M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.95	−0.187%	$36.1M	$89.4M	100x	as long as short