Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0357%/8h= −39.1% APRpaid last 24h −0.055%

Price spread now: Phemex against Aftermath Perps−0.060%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Phemex is 0.060% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps SOLUSD	116.79	0.0457	pay 0.0057% / 1h	53m 58s	$25K	$50K	20x
Short	Phemex SOLUSDT	116.72	0.0100	get 0.0100% / 8h	4h 53m	$45.6M	$101.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath Perps. 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$74.9
Price spread: −0.060% → 0.000%: −$6.02
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$101.92
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Phemex: live order book, 5 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	0.43 bp	8.4 bp −$8	10.6 bp −$106	19.0 bp −$1,904	doesn't fit

Aftermath 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
ApeX Omni SOLUSDT	−0.0435%	1h	116.33	−0.394%	$1.7M	$6.0M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.67	−0.106%	$912	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	116.63	−0.134%	—	$602K	20x	as long as short
Hibachi SOL/USDT-P	−0.0008%	1h	116.68	−0.093%	$103K	$700K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.67	−0.101%	$54K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.69	−0.086%	$4.4M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.68	−0.095%	$1.4M	$18.7M	3.1x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.59	−0.172%	$1.9M	$2.8M	13x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	116.68	−0.094%	$99K	$168K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.70	−0.078%	$7.6M	$404.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.69	−0.082%	$30.8M	$100.0M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0080%	1h	116.73	−0.053%	$26.3M	$25.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.65	−0.118%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.68	−0.093%	$13.0M	$59.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.67	−0.100%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.62	−0.145%	$342K	$229K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.70	−0.075%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.64	−0.129%	$50K	$845K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.66	−0.111%	$5.5M	$39.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.76	−0.026%	$707.5M	$394.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.67	−0.100%	$175.3M	$182.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.70	−0.074%	$15.5M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.68	−0.094%	$962.0M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.63	−0.137%	$795.0M	$1.32B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.67	−0.103%	$365.0M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.66	−0.112%	$232K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.69	−0.088%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	−0.114%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.66	−0.112%	$848.6M	$651.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	−0.086%	$416.0M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.63	−0.136%	$126.4M	$216.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.64	−0.126%	$481.7M	$439.0M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.65	−0.118%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.66	−0.112%	$23.3M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.68	−0.098%	$24.4M	$115.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.36	−0.367%	$93.5M	$396.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.56	−0.195%	$47.6M	$29.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.62	−0.146%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.67	−0.103%	$332K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.65	−0.119%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.62	−0.144%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.65	−0.118%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.67	−0.103%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.65	−0.122%	$226.4M	$46.3M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.72	−0.060%	$45.6M	$101.1M	50x
Extended SOL-USD	+0.0104%	1h	116.62	−0.146%	$8.0M	$36.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.71	−0.069%	—	$221.3M	500x	as long as short
Phoenix SOL	+0.0129%	1h	116.77	−0.017%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.659%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.65	−0.116%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.62	−0.146%	$51.8M	$71.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.67	−0.099%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.73	−0.052%	$128K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSDlong	+0.0457%	1h	116.79	long leg	$25K	$50K	20x
RISEx SOL/USDC	+0.0559%	1h	116.74	−0.041%	$1.9M	$4.9M	20x	as long as short