Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.012%

Price spread now: BingX against Hyperliquid−0.130%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 7 days+0.084%+$8 · spread now −0.130%, 7d avg −0.081%

Together, before fees+0.059%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.049% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.081%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SOL	119.14	0.0100	pay 0.0013% / 1h	18m 02s	$725.6M	$396.8M	20x
Short	BingX SOL-USDC	118.98	0.0080	get 0.0080% / 8h	7h 18m	—	$10.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.130%Rate

Funding earned: −$4.2
Price spread: −0.130% → −0.081%: −$4.86
Slippage, 4 orders: −$4.07
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.14
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; BingX: live order book, 5 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, 6 min ago	0.42 bp	4.9 bp −$5	6.0 bp −$60	9.8 bp −$983	doesn't fit
Sell BingX live order book, 5 min ago	0.63 bp	7.5 bp −$8	10.1 bp −$101	14.6 bp −$1,461	31.6 bp −$15.8K

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	118.79	−0.295%	$929	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	118.77	−0.309%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.89	−0.207%	$2.0M	$2.7M	13x	as long as short
dYdX SOL-USD	−0.0020%	1h	118.80	−0.286%	$4.9M	$25.8M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.05	−0.075%	$32.4M	$97.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.94	−0.170%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.86	−0.232%	$1.2M	$20.1M	3.1x	as long as short
Hibachi SOL/USDT-P	0.0000%	1h	119.00	−0.114%	$100K	$650K	20x	as long as short
Perpl SOL	0.0000%	43m	118.86	−0.234%	$154K	$3.8M	8.3x	as long as short
HTX SOL-USDT	+0.0009%	8h	118.88	−0.220%	$231.3M	$44.1M	75x	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	+0.0032%	1h	118.83	−0.260%	$103K	$160K	20x	as long as short
Bluefin SOL-PERP	+0.0054%	1h	118.98	−0.132%	$37K	$17K	25x	as long as short
BingX SOL-USDCshort	+0.0080%	8h	118.98	−0.130%	—	$10.5M	—
Orderly PERP_SOL_USDC	+0.0083%	8h	118.98	−0.135%	$1.0M	$5.8M	100x	as long as short
Gate SOL_USDT	+0.0084%	8h	119.02	−0.101%	$856.8M	$669.6M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.06	−0.068%	$8.0M	$410.1M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.98	−0.131%	$14.1M	$56.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.99	−0.126%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.91	−0.194%	$348K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.72	−0.353%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.79	−0.294%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.81	−0.273%	$5.9M	$40.6M	40x	as long as short
Hyperliquid SOLlong	+0.0100%	1h	119.14	long leg	$725.6M	$396.8M	20x
Aster SOLUSDT	+0.0100%	8h	119.01	−0.112%	$179.8M	$177.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.78	−0.301%	$12.2M	$125.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.02	−0.100%	$979.9M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.05	−0.075%	$825.0M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.03	−0.092%	$371.0M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.78	−0.302%	$233K	$830K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.82	−0.271%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.321%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.03	−0.092%	$430.6M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.98	−0.131%	$138.7M	$203.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.02	−0.102%	$493.5M	$439.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.05	−0.076%	$24.0M	$37.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.93	−0.180%	$25.0M	$130.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.89	−0.213%	$95.5M	$403.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.91	−0.194%	$48.7M	$29.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.86	−0.235%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.00	−0.118%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.83	−0.260%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.91	−0.197%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.88	−0.216%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.98	−0.134%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.05	−0.076%	$46.7M	$99.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.00	−0.118%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	118.95	−0.159%	$6.5M	$13.6M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0116%	1h	119.03	−0.094%	$26.7M	$24.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.87	−0.228%	—	$219.4M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.77	−0.307%	$1.8M	$4.5M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	118.93	−0.179%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.109%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	118.82	−0.270%	$1.1M	$524K	25x	as long as short
Aftermath Perps SOLUSD	+0.0201%	1h	118.98	−0.135%	$25K	$50K	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.78	−0.302%	$51.8M	$74.8M	125x	as long as short