SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0037%/8h= +4.1% APRnext payment +$0.05 per $10,000 · paid last 24h −0.021%

Price spread now: Deribit against Backpack−0.089%50s7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$210.208% of the position

Long on Backpack Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.089%, 7d avg +0.021%

Together, before fees−0.151%−$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.110% cheaper against Backpack than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.021%). If the spread goes back, that is −$11 on $10k: about 9.8 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.141%, so the current rate has only just turned in your favour. The two prices were read 50 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	Backpack SOL_USDC_PERP	116.89	0.0100	pay 0.0013% / 1h	34m 18s	$23.1M	$39.2M	50x
Short	Deribit SOL_USDC-PERPETUAL	116.79	0.0137	get 0.0017% / 1h	34m 18s	$26.3M	$23.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Backpack. 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 BackpackbpFee DeribitbpOrdersPrice spread, now −0.089%Rate

Funding earned: $7.81
Price spread: −0.089% → +0.021%: −$10.96
Slippage, 4 orders: −$3.76
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$23.91
Costs to cover: 0.208%
Break-even: 28.4 days

Slippage from Backpack: live order book, 5 min ago; Deribit: 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 Backpack live order book, 5 min ago	0.43 bp	5.4 bp −$5	6.5 bp −$65	10.4 bp −$1,044	1890.3 bp −$945.2K
Sell Deribit live order book, 5 min ago	0.04 bp	4.5 bp −$5	5.3 bp −$53	12.5 bp −$1,251	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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.90	+0.004%	$31.1M	$101.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0152%	1h	116.83	−0.051%	$103K	$699K	20x	as long as short
Vest SOL-PERP	−0.0087%	1h	116.74	−0.124%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.91	+0.020%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.77	−0.107%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.93	+0.032%	$1.5M	$19.0M	3.1x	as long as short
dYdX SOL-USD	+0.0007%	1h	116.87	−0.017%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0011%	1h	116.68	−0.183%	$1.9M	$2.9M	13x	as long as short
Bybit SOLUSDT	+0.0040%	8h	116.69	−0.172%	$764.3M	$1.38B	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.91	+0.019%	$7.6M	$405.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0080%	1h	116.79	−0.086%	$99K	$174K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.75	−0.120%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.85	−0.032%	$13.1M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.83	−0.054%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.76	−0.114%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.77	−0.103%	$61K	$893K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.84	−0.040%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.78	−0.096%	$5.5M	$40.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.89	−0.003%	$705.6M	$394.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.81	−0.070%	$175.0M	$183.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.87	−0.021%	$15.8M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.76	−0.111%	$974.8M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.73	−0.137%	$367.0M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.88	−0.009%	$229K	$846K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.83	−0.051%	$922K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.05	+0.136%	$134.1M	$22.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.79	−0.086%	$852.8M	$661.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.76	−0.111%	$366.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.80	−0.074%	$129.2M	$223.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.71	−0.154%	$481.7M	$445.5M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.77	−0.106%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	116.89	long leg	$23.1M	$39.2M	50x
Variational Omni SOL	+0.0100%	8h	116.73	−0.133%	$24.5M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.91	+0.013%	$93.9M	$399.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.75	−0.120%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.97	+0.071%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.88	−0.009%	$1.3M	$12.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.75	−0.120%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.75	−0.121%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.76	−0.112%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.81	−0.067%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.89	0.000%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.87	−0.019%	$226.5M	$48.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.91	+0.017%	$45.8M	$103.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.68	−0.181%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.99	+0.086%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.88	−0.006%	—	$231.5M	500x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0137%	1h	116.79	−0.089%	$26.3M	$23.3M	50x
Phoenix SOL	+0.0151%	1h	117.04	+0.128%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.72	−0.142%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.90	+0.009%	$52.1M	$67.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.76	−0.114%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.82	−0.057%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0524%	1h	116.88	−0.009%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.86	−0.022%	$1.9M	$4.8M	20x	as long as short