Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Binance−0.342%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Binance Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.345%+$35 · spread now −0.342%, 7d avg +0.003%

Together, before fees+0.342%+$34 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: Bulk is 0.345% cheaper against Binance than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SOLUSDT	116.85	0.0100	pay 0.0100% / 8h	4h 31m	$967.5M	$3.79B	100x
Short	Bulk SOL-USD	116.45	0.0100	get 0.0013% / 1h	31m 32s	$133.2M	$20.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Binance. 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 BinancebpFee BulkbpOrdersPrice spread, now −0.342%Rate

Funding earned: $0
Price spread: −0.342% → +0.003%: −$34.53
Slippage, 4 orders: −$9.44
Fee Binance: 5 bp × 2 orders: −$10
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$60.98
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Bulk: live order book, 3 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 Binance live order book, 13 min ago	0.43 bp	5.4 bp −$5	5.9 bp −$59	8.8 bp −$880	16.9 bp −$8,475
Sell Bulk live order book, 3 min ago	4.29 bp	7.8 bp −$8	7.8 bp −$78	7.8 bp −$779	7.8 bp −$3,897

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
Hibachi SOL/USDT-P	−0.0096%	1h	116.63	−0.188%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0096%	1h	116.62	−0.197%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.71	−0.121%	$913	$8K	25x	as long as short
Derive SOL-PERP	−0.0060%	1h	116.64	−0.180%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.71	−0.120%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.74	−0.096%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.79	−0.053%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.86	+0.009%	$100K	$171K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.73	−0.103%	$7.5M	$405.2M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.71	−0.117%	$31.1M	$100.3M	100x	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	+0.0091%	8h	116.73	−0.104%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.81	−0.033%	$13.1M	$59.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.79	−0.049%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.71	−0.124%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.75	−0.086%	$51K	$867K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.84	−0.006%	$989K	$534K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.83	−0.015%	$5.4M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.84	−0.009%	$705.6M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.81	−0.034%	$175.1M	$182.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.84	−0.007%	$15.7M	$130.4M	20x	as long as short
Binance SOLUSDTlong	+0.0100%	8h	116.85	long leg	$967.5M	$3.79B	100x
Bybit SOLUSDT	+0.0100%	8h	116.82	−0.025%	$786.6M	$1.34B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.86	+0.009%	$369.5M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.67	−0.154%	$231K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.84	−0.009%	$928K	$9.1M	20x	as long as short
Bulk SOL-USDshort	+0.0100%	1h	116.45	−0.342%	$133.2M	$20.7M	20x
Gate SOL_USDT	+0.0100%	8h	116.80	−0.043%	$843.2M	$659.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.82	−0.026%	$416.9M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.80	−0.045%	$126.6M	$218.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.79	−0.052%	$480.1M	$441.6M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.80	−0.041%	—	$365.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.70	−0.128%	$23.5M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.25	−0.509%	$24.4M	$114.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.43	−0.363%	$93.5M	$398.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.45	−0.346%	$47.6M	$29.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.60	−0.213%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.68	−0.145%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.69	−0.137%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.69	−0.137%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.66	−0.160%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.68	−0.144%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.71	−0.120%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.62	−0.197%	$226.3M	$47.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.70	−0.128%	$45.7M	$101.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.77	−0.072%	$8.1M	$36.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.70	−0.124%	—	$230.2M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	−0.248%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.63	−0.188%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0160%	1h	116.77	−0.066%	$26.3M	$25.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.66	−0.160%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.66	−0.163%	$51.7M	$72.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0171%	1h	116.70	−0.126%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.70	−0.126%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0533%	1h	116.61	−0.204%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.89	+0.037%	$1.9M	$4.9M	20x	as long as short