Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.005%

Price spread now: Gate against Hyperliquid−0.075%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.075%, 7d avg −0.032%

Together, before fees−0.023%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 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: Gate is 0.043% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SOL	119.30	0.0100	pay 0.0013% / 1h	51m 42s	$719.6M	$413.8M	20x
Short	Gate SOL_USDT	119.21	0.0096	get 0.0096% / 8h	1h 51m	$867.8M	$675.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.075%Rate

Funding earned: −$0.84
Price spread: −0.075% → −0.032%: −$4.34
Slippage, 4 orders: −$2.68
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$31.86
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Gate: 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, 12 min ago	0.42 bp	4.9 bp −$5	6.3 bp −$63	9.0 bp −$895	doesn't fit
Sell Gate live order book, 2 min ago	0.42 bp	8.9 bp −$9	11.6 bp −$116	16.6 bp −$1,662	27.6 bp −$13.8K

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
Derive SOL-PERP	−0.0094%	1h	119.16	−0.115%	$2.0M	$3.1M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.22	−0.065%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0063%	1h	119.27	−0.025%	—	$724K	20x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.22	−0.067%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.26	−0.034%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.25	−0.039%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.32	+0.019%	$179K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0008%	1h	119.31	+0.005%	$120K	$625K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.37	+0.059%	$6.6M	$13.6M	25x	as long as short
Aftermath Perps SOLUSD	+0.0060%	1h	119.30	+0.003%	$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
Orderly PERP_SOL_USDC	+0.0065%	8h	119.27	−0.026%	$1.1M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0066%	1h	119.32	+0.015%	$26.8M	$27.6M	50x	as long as short
HTX SOL-USDT	+0.0068%	8h	119.13	−0.138%	$232.1M	$44.6M	75x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.16	−0.114%	—	$375.1M	—	as long as short
Lighter SOL	+0.0096%	1h	119.17	−0.111%	$13.6M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.20	−0.087%	$2.1M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	119.20	−0.084%	$104K	$153K	20x	as long as short
Gate SOL_USDTshort	+0.0096%	8h	119.21	−0.075%	$867.8M	$675.8M	100x
Aevo SOL-PERP	+0.0096%	1h	119.23	−0.060%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.12	−0.152%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.17	−0.109%	$46K	$791K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.30	+0.004%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOLlong	+0.0100%	1h	119.30	long leg	$719.6M	$413.8M	20x
Aster SOLUSDT	+0.0100%	8h	119.21	−0.073%	$178.7M	$176.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.21	−0.077%	$12.4M	$116.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.17	−0.111%	$981.6M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.18	−0.101%	$823.0M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.14	−0.134%	$371.8M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.44	+0.117%	$234K	$877K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.22	−0.065%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.15	−0.124%	$133.6M	$9.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.18	−0.101%	$437.0M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.21	−0.075%	$140.7M	$199.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.15	−0.129%	$495.4M	$454.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.25	−0.042%	$24.1M	$38.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.31	+0.012%	$27.4M	$127.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.37	+0.061%	$95.9M	$397.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.47	+0.145%	$48.9M	$32.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.46	+0.134%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.36	+0.050%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.31	+0.008%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.24	−0.052%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.26	−0.035%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.31	+0.006%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.24	−0.050%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.25	−0.042%	$46.6M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.19	−0.093%	$8.7M	$36.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.27	−0.029%	$8.2M	$415.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.22	−0.068%	—	$222.6M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	119.23	−0.056%	$32.8M	$94.8M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.27	−0.029%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.31	+0.006%	$1.1M	$558K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.19	−0.089%	$1.6M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.41	+0.092%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.23	−0.059%	$51.9M	$87.0M	125x	as long as short