Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:55 UTC+0.1080%/8h= +118.3% APRpaid last 24h −0.005%

Price spread now: Perpl against ApeX Omni−0.341%65s7-day average −0.015% · you buy dearer than you sell

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

Long on ApeX Omni Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 7 days+0.394%+$39 · spread now −0.341%, 7d avg −0.015%

Together, before fees+0.400%+ Points / potential airdropPerpl: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Perpl is 0.326% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.341% now, against its 7-day average of −0.015%). If the spread goes back, that is −$33 on $10k: about 24 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.006% in total) that is about 14 months. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.006% in total (about 0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SOLUSDT	118.05	−0.1080	get 0.0135% / 1h	54m 15s	$1.5M	$6.1M	50x
Short	Perpl SOL	117.64	0	get 0.0000% / 43m	16m 15s	$131K	$4.0M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PerplbpOrdersPrice spread, now −0.341%Rate

Funding earned: $226.85
Price spread: −0.341% → −0.015%: −$32.59
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $170.46
Costs to cover: 0.238%
Break-even: 1.7 days

Slippage unknown: ApeX Omni: live order book, 5 min ago; Perpl: 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 ApeX Omni live order book, 5 min ago	2.12 bp	7.1 bp −$7	10.2 bp −$102	79.6 bp −$7,956	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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 SOLUSDTlong	−0.1080%	1h	118.05	long leg	$1.5M	$6.1M	50x
Hotstuff SOL-PERP	−0.0080%	1h	117.56	−0.412%	$919	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0080%	1h	117.55	−0.424%	$94K	$697K	20x	as long as short
HTX SOL-USDT	−0.0079%	8h	117.52	−0.447%	$228.6M	$44.7M	75x	as long as short
Vest SOL-PERP	−0.0079%	1h	117.53	−0.440%	—	$610K	20x	as long as short
Derive SOL-PERP	−0.0050%	1h	117.58	−0.394%	$2.0M	$2.7M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.57	−0.405%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.69	−0.301%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.59	−0.389%	$1.6M	$21.3M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	117.64	−0.341%	$131K	$4.0M	8.3x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SOL_USDT	+0.0005%	8h	117.58	−0.396%	$844.6M	$647.7M	100x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.53	−0.442%	$1.8M	$4.6M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.77	−0.237%	$31.5M	$98.6M	100x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.54	−0.430%	$102K	$162K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0066%	1h	117.77	−0.238%	$26.4M	$25.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.75	−0.256%	$7.9M	$409.5M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.54	−0.430%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	117.67	−0.319%	$1.1M	$5.9M	100x	as long as short
Lighter RH SOL	+0.0088%	1h	117.65	−0.337%	$2.2M	$16.6M	25x	as long as short
Lighter SOL	+0.0096%	1h	117.70	−0.295%	$13.1M	$57.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.68	−0.315%	$345K	$262K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.58	−0.399%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.52	−0.447%	$45K	$815K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.58	−0.392%	$5.7M	$41.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.66	−0.329%	$715.3M	$400.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.55	−0.422%	$177.4M	$180.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.69	−0.305%	$12.8M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.57	−0.408%	$973.2M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.61	−0.371%	$818.0M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.60	−0.380%	$364.7M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.56	−0.413%	$255K	$899K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.59	−0.385%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.15	+0.086%	$136.0M	$13.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.58	−0.396%	$421.3M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.54	−0.434%	$133.0M	$207.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.71	−0.283%	$488.7M	$445.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.65	−0.337%	$23.7M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.61	−0.374%	$24.4M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.09	+0.036%	$94.9M	$399.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.85	−0.170%	$48.3M	$29.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.58	−0.396%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.56	−0.413%	$352K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.56	−0.412%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.59	−0.385%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.60	−0.377%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.72	−0.278%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.66	−0.329%	$45.9M	$100.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.66	−0.328%	$8.3M	$35.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.65	−0.339%	—	$228.5M	500x	as long as short
Phoenix SOL	+0.0114%	1h	117.72	−0.278%	$6.5M	$13.5M	25x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	117.52	−0.449%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.63	−0.354%	$52.2M	$73.9M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	119.50	+1.230%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	117.57	−0.406%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0280%	1h	118.10	+0.047%	$25K	$51K	20x	as long as short