In different rating systems, it may be hard to say exactly. However different time allowances can have a heavy impact on rating. Some play better in fast time controls, and others play worse.
Difference between 1100 and 500 ELO

Usually blitz rating are lower then rapid, i played someone who was 1500's rapid an 1000 blitz, i try not to look at the rating an say " i got this game" the player may be underrated. I think when it comes to faster time controls having opening knowledge is a benifit, need to be able to blitz out your opening, and alow a pause to think once or twice during the middle game.

Chess ratings aren't an absolute measure, they only place you relative to others in that group. Maybe an easy way to understand it is to think of ratings as currency. A gram of gold is worth 50 euro and 6000 yen. They're the same thing.
If your skill is "worth" 1100 rapid and 500 blitz it doesn't necessarily mean you're better at one or the other.
Since you're new to blitz you'll probably need some time to adjust to the time. After that your rating will go up (but probably still be a few 100 below your rapid rating).

So I was wondering if there is much difference between the players of that rating.
The following comments are about blitz ratings.
500 blitz has some experience and has some basic knowledge. For example on move one they might put a pawn in the center, they'll try to develop... usually they'll get distracted though and stop following the opening principles after a few moves so they don't "complete development" until very late in the game.
There are still many oversights. A 500 player has some difficulty seeing where pieces can move (will accidentally move a piece to an attacked square) or doesn't fully trust the 9,5,3,3,1 point system (will sacrifice bishops and knights for no gain).
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1100 is a lot better. Most of them actually complete development fairly quickly in the opening, and they've moved pretty far beyond not noticing where pieces can move. They consistently determine whether a trade is good by using the 9,5,3,3,1 point system. They can even see and defend against simple tactics (forks, pins), although inconsistently.
So I was wondering if there is much difference between the players of that rating. I am almost 1100 in rapid but i just tried to play Blitz and I lost a few times already against people that arent even 500 rating