Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0046%/8h= −5.1% APRpaid last 24h +0.034%

Price spread now: Phoenix against Aster−0.019%65s7-day average +0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs+$14as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.186% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 7 days+0.189%+$19 · spread now −0.019%, 7d avg +0.129%

Together, before fees+0.517%+ Points / potential airdropAster: Stage 5 · farm board+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.148% cheaper against Aster than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.129%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.328%, so the current rate has only just turned against you. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SOLUSDT	119.25	0.0100	pay 0.0100% / 8h	1h 02m	$178.6M	$175.7M	100x
Short	Phoenix SOL	119.23	0.0054	get 0.0007% / 1h	2m 31s	$6.5M	$13.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$9.72
Price spread: −0.019% → +0.129%: −$14.79
Slippage, 4 orders: −$3.63
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$43.14
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Aster: live order book, 2 min ago; Phoenix: live order book, 2 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 Aster live order book, 2 min ago	0.42 bp	4.4 bp −$4	4.5 bp −$45	6.8 bp −$682	31.8 bp −$15.9K
Sell Phoenix live order book, 2 min ago	0.84 bp	4.6 bp −$5	5.7 bp −$57	11.4 bp −$1,136	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	−0.0186%	1h	119.18	−0.061%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.27	+0.012%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0064%	1h	119.20	−0.043%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.10	−0.129%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.29	+0.030%	$115K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.26	+0.009%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.26	+0.006%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.27	+0.013%	$177K	$4.0M	8.3x	as long as short
Phoenix SOLshort	+0.0054%	1h	119.23	−0.019%	$6.5M	$13.6M	25x
01 Exchange SOLUSD	+0.0064%	1h	119.26	+0.007%	$104K	$156K	20x	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	+0.0070%	8h	119.18	−0.063%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.24	−0.008%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	119.21	−0.035%	$118K	$608K	20x	as long as short
HTX SOL-USDT	+0.0082%	8h	119.10	−0.128%	$231.8M	$45.0M	75x	as long as short
Aftermath Perps SOLUSD	+0.0083%	1h	119.16	−0.074%	$24K	$47K	20x	as long as short
Gate SOL_USDT	+0.0088%	8h	119.22	−0.027%	$870.3M	$690.3M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.27	+0.016%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.25	+0.001%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.15	−0.085%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.25	−0.005%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.25	−0.002%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.27	+0.015%	$6.1M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.33	+0.065%	$719.9M	$410.0M	20x	as long as short
Aster SOLUSDTlong	+0.0100%	8h	119.25	long leg	$178.6M	$175.7M	100x
Pacifica SOL	+0.0100%	1h	119.30	+0.040%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.28	+0.023%	$982.6M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.31	+0.048%	$829.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.25	−0.002%	$372.6M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.18	−0.061%	$233K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.29	+0.031%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.85	−0.337%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.26	+0.007%	$453.6M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.25	+0.002%	$139.7M	$202.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.25	−0.004%	$496.5M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.21	−0.035%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.17	−0.070%	$27.5M	$128.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.16	−0.081%	$95.7M	$401.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.21	−0.035%	$48.8M	$31.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.00	−0.211%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.20	−0.044%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.26	+0.007%	$369K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.27	+0.017%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.25	−0.005%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.21	−0.035%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.20	−0.044%	$46.6M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.23	−0.021%	$8.7M	$36.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0106%	1h	119.26	+0.009%	$26.7M	$27.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.24	−0.010%	$8.3M	$416.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.25	−0.004%	—	$224.8M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	119.22	−0.025%	$32.6M	$96.9M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0071%	1h	119.28	+0.026%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.24	−0.010%	$1.1M	$549K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.28	+0.021%	$1.7M	$5.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.02	−0.195%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.20	−0.044%	$52.0M	$84.0M	125x	as long as short