Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Ondo Perps against Hyperliquid−0.140%7-day average −0.037% · you buy dearer than you sell

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

Long on Hyperliquid Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 7 days−0.167%−$17 · spread now −0.140%, 7d avg −0.037%

Together, before fees−0.125%+ Points / potential airdropHyperliquid: Season 2 · Ondo Perps: Active · farm board−$12 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: Ondo Perps is 0.103% cheaper against Hyperliquid than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SOL	118.55	0.0100	pay 0.0013% / 1h	47m 20s	$713.7M	$424.8M	20x
Short	Ondo Perps SOL-USD.P	118.38	0.0100	get 0.0013% / 1h	47m 20s	$234K	$849K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.037%: −$10.32
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$24.32
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; Ondo Perps: no order-book sample. 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 Hyperliquid live order book, 11 min ago	0.42 bp	4.9 bp −$5	5.0 bp −$50	9.1 bp −$913	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Vest SOL-PERP	−0.0104%	1h	118.39	−0.135%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.47	−0.065%	$840	$8K	25x	as long as short
dYdX SOL-USD	−0.0046%	1h	118.47	−0.065%	$4.6M	$26.0M	20x	as long as short
Derive SOL-PERP	−0.0045%	1h	118.36	−0.155%	$1.9M	$3.0M	13x	as long as short
Aftermath Perps SOLUSD	−0.0014%	1h	118.42	−0.104%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.50	−0.041%	$57K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.43	−0.100%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.48	−0.059%	$171K	$4.0M	8.3x	as long as short
01 Exchange SOLUSD	+0.0008%	1h	118.48	−0.056%	$106K	$143K	20x	as long as short
HTX SOL-USDT	+0.0042%	8h	118.37	−0.151%	$230.7M	$42.2M	75x	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	+0.0052%	8h	118.47	−0.065%	$1.1M	$5.7M	100x	as long as short
BingX SOL-USDT	+0.0056%	8h	118.47	−0.064%	—	$362.5M	—	as long as short
KuCoin SOLUSDTM	+0.0057%	8h	118.43	−0.096%	$141.2M	$174.3M	75x	as long as short
Bitget SOLUSDT	+0.0071%	8h	118.44	−0.092%	$496.1M	$440.6M	100x	as long as short
Gate SOL_USDT	+0.0079%	8h	118.45	−0.081%	$861.1M	$663.2M	100x	as long as short
OKX SOL-USDT-SWAP	+0.0095%	8h	118.45	−0.081%	$367.7M	$1.68B	100x	as long as short
Lighter SOL	+0.0096%	1h	118.49	−0.048%	$13.3M	$50.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.48	−0.054%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.42	−0.108%	$351K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0096%	8h	118.45	−0.077%	$1.0M	$438K	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0100%	1h	118.47	−0.062%	$26.7M	$27.2M	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.48	−0.056%	$43K	$736K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.43	−0.101%	$5.5M	$39.8M	40x	as long as short
Hyperliquid SOLlong	+0.0100%	1h	118.55	long leg	$713.7M	$424.8M	20x
Aster SOLUSDT	+0.0100%	8h	118.47	−0.064%	$178.4M	$170.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.51	−0.033%	$13.3M	$107.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.46	−0.073%	$970.9M	$3.66B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.49	−0.048%	$819.3M	$1.23B	100x	as long as short
Ondo Perps SOL-USD.Pshort	+0.0100%	1h	118.38	−0.140%	$234K	$849K	10x
Arcus SOL-USD	+0.0100%	1h	118.52	−0.020%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.34	−0.173%	$131.6M	$15.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.44	−0.090%	$486.8M	$1.03B	300x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.47	−0.065%	$24.3M	$37.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.52	−0.026%	$28.0M	$118.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.45	−0.077%	$95.1M	$387.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.43	−0.097%	$48.5M	$32.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.41	−0.115%	$1.5M	$6.3M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.37	−0.149%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.46	−0.073%	$358K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.44	−0.093%	$202K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.43	−0.102%	$37K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.38	−0.138%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.40	−0.124%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.42	−0.107%	$46.1M	$96.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.45	−0.080%	$8.6M	$37.2M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	118.48	−0.059%	$8.0M	$402.9M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	118.47	−0.062%	$121K	$562K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.46	−0.071%	—	$208.3M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0131%	1h	118.43	−0.095%	$34.0M	$85.6M	100x	as long as short
Phoenix SOL	+0.0149%	1h	118.44	−0.090%	$7.2M	$11.3M	25x	as long as short
RISEx SOL/USDC	+0.0160%	1h	118.51	−0.035%	$1.6M	$6.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	118.44	−0.088%	$1.1M	$554K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.45	−0.081%	$51.6M	$88.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0179%	1h	118.48	−0.058%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0533%	1h	118.29	−0.216%	$4K	$2K	12x	as long as short