Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.032%

Price spread now: Backpack against ApeX Omni+0.034%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.356%+$36 on $10k

Price spread, last 7 days−0.736%−$74 · spread now +0.034%, 7d avg +0.085%

Together, before fees−0.380%−$38 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: Backpack is 0.051% cheaper against ApeX Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SOLUSDT	119.73	0.0100	pay 0.0013% / 1h	39m 27s	$1.5M	$6.2M	50x
Short	Backpack SOL_USDC_PERP	119.77	0.0100	get 0.0013% / 1h	39m 27s	$24.2M	$38.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.085%: −$5.06
Slippage, 4 orders: −$4.18
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$29.24
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Backpack: 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 ApeX Omni live order book, 5 min ago	1.67 bp	6.7 bp −$7	10.6 bp −$106	63.8 bp −$6,375	doesn't fit
Sell Backpack live order book, 5 min ago	0.42 bp	5.4 bp −$5	6.6 bp −$66	9.3 bp −$934	doesn't fit

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
Bluefin SOL-PERP	−0.0393%	1h	119.74	+0.008%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0095%	1h	119.68	−0.043%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.58	−0.120%	$848	$8K	25x	as long as short
Vest SOL-PERP	−0.0062%	1h	119.58	−0.126%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0002%	1h	119.62	−0.087%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.61	−0.097%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.72	−0.012%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.61	−0.099%	$178K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0009%	1h	119.80	+0.060%	$26.8M	$27.6M	50x	as long as short
Hibachi SOL/USDT-P	+0.0016%	1h	119.81	+0.066%	$120K	$611K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SOL	+0.0054%	1h	119.84	+0.093%	$6.6M	$13.6M	25x	as long as short
Aftermath Perps SOLUSD	+0.0065%	1h	119.56	−0.143%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	119.78	+0.044%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0077%	8h	119.71	−0.016%	$233.2M	$44.6M	75x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.58	−0.120%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.60	−0.108%	$872.1M	$679.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.59	−0.116%	$13.6M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.60	−0.106%	$2.1M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	119.62	−0.091%	$105K	$153K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.68	−0.038%	$355K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.56	−0.145%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.58	−0.124%	$45K	$790K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.58	−0.128%	$6.2M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.70	−0.024%	$721.7M	$414.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.60	−0.105%	$179.0M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.63	−0.081%	$12.4M	$117.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.59	−0.116%	$989.2M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.60	−0.110%	$826.5M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.58	−0.124%	$372.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.74	+0.009%	$234K	$889K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.64	−0.076%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.60	−0.108%	$458.6M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.60	−0.109%	$141.3M	$199.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.58	−0.122%	$496.5M	$454.7M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	119.77	+0.034%	$24.2M	$38.7M	50x
Variational Omni SOL	+0.0100%	8h	119.76	+0.027%	$27.8M	$127.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.71	−0.017%	$96.1M	$398.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.74	+0.011%	$49.0M	$31.9M	20x	as long as short
ApeX Omni SOLUSDTlong	+0.0100%	1h	119.73	long leg	$1.5M	$6.2M	50x
StandX SOL-USD	+0.0100%	1h	119.78	+0.043%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.58	−0.124%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.59	−0.113%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.74	+0.010%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.75	+0.018%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.74	+0.009%	$46.8M	$101.8M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.75	+0.016%	$134.3M	$8.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.54	−0.154%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.79	+0.053%	$8.2M	$416.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.74	+0.005%	—	$222.1M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.76	+0.026%	$32.7M	$95.3M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.60	−0.110%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.58	−0.122%	$1.1M	$558K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.61	−0.099%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.500%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.69	−0.033%	$52.1M	$82.8M	125x	as long as short