Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: Hyperliquid against Bitget+0.084%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days−0.059%−$6 · spread now +0.084%, 7d avg +0.036%

Together, before fees+0.004%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 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 0.048% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SOLUSDT	118.79	0.0100	pay 0.0100% / 8h	7h 43m	$493.0M	$446.7M	100x
Short	Hyperliquid SOL	118.89	0.0103	get 0.0013% / 1h	43m 40s	$720.0M	$404.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.084%Rate

Funding earned: $0.7
Price spread: +0.084% → +0.036%: $4.79
Slippage, 4 orders: −$4.35
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$19.86
Costs to cover: 0.254%
Break-even: 205.5 days

Slippage from Bitget: live order book, 6 min ago; Hyperliquid: live order book, 10 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 Bitget live order book, 6 min ago	0.04 bp	7.2 bp −$7	8.9 bp −$89	14.7 bp −$1,471	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.42 bp	4.9 bp −$5	4.9 bp −$49	7.2 bp −$720	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
Hotstuff SOL-PERP	−0.0080%	1h	118.68	−0.093%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.57	−0.184%	—	$610K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.55	−0.200%	$2.0M	$2.8M	13x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.63	−0.131%	$32.4M	$96.6M	100x	as long as short
dYdX SOL-USD	−0.0010%	1h	118.81	+0.017%	$4.9M	$26.5M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.65	−0.120%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.68	−0.088%	$1.2M	$20.5M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.68	−0.093%	$154K	$3.9M	8.3x	as long as short
HTX SOL-USDT	+0.0042%	8h	118.56	−0.192%	$230.7M	$44.8M	75x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0049%	1h	118.68	−0.096%	$26.6M	$25.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0056%	1h	118.65	−0.118%	$104K	$159K	20x	as long as short
ApeX Omni SOLUSDT	+0.0061%	1h	118.57	−0.184%	$1.5M	$6.1M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	118.61	−0.153%	$121K	$633K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0079%	8h	118.64	−0.123%	$1.0M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.77	−0.013%	—	$10.6M	—	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.67	−0.100%	$8.1M	$412.8M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.79	−0.003%	$14.0M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.78	−0.008%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.64	−0.126%	$348K	$258K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.78	−0.007%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.64	−0.126%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.63	−0.130%	$5.8M	$41.0M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.79	+0.004%	$178.5M	$176.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.82	+0.027%	$12.2M	$123.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.79	−0.004%	$979.0M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.79	0.000%	$822.3M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.76	−0.025%	$370.6M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.65	−0.118%	$232K	$860K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.70	−0.073%	$1.9M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.55	−0.202%	$133.5M	$4.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	118.73	−0.051%	$858.5M	$661.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.78	−0.008%	$426.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.70	−0.074%	$137.8M	$207.1M	75x	as long as short
Bitget SOLUSDTlong	+0.0100%	8h	118.79	long leg	$493.0M	$446.7M	100x
Backpack SOL_USDC_PERP	+0.0100%	1h	118.64	−0.126%	$24.1M	$37.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.61	−0.154%	$26.9M	$128.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.53	−0.221%	$95.2M	$404.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.57	−0.188%	$48.6M	$30.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.56	−0.194%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.62	−0.143%	$359K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.61	−0.150%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.63	−0.133%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.66	−0.110%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.62	−0.143%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.65	−0.118%	$46.5M	$101.4M	50x	as long as short
Hyperliquid SOLshort	+0.0103%	1h	118.89	+0.084%	$720.0M	$404.3M	20x
Extended SOL-USD	+0.0104%	1h	118.77	−0.021%	$8.7M	$35.2M	50x	as long as short
Phoenix SOL	+0.0114%	1h	118.68	−0.093%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.67	−0.099%	—	$222.5M	500x	as long as short
Aftermath Perps SOLUSD	+0.0150%	1h	118.65	−0.118%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.67	−0.102%	$1.8M	$4.6M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0065%	1h	118.63	−0.137%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	118.66	−0.109%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0185%	1h	118.58	−0.174%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.55	−0.202%	$51.9M	$78.9M	125x	as long as short