Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.022%

Price spread now: Deribit against Binance+0.039%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−0.382%−$38 · spread now +0.039%, 7d avg +0.018%

Together, before fees−0.449%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.021% dearer against Binance than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of +0.018%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SOLUSDT	117.34	0.0100	pay 0.0100% / 8h	5h 44m	$966.4M	$3.73B	100x
Short	Deribit SOL_USDC-PERPETUAL	117.39	0.0056	get 0.0007% / 1h	44m 14s	$26.4M	$25.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$9.26
Price spread: +0.039% → +0.018%: $2.13
Slippage, 4 orders: −$4.42
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$28.55
Costs to cover: 0.214%
Break-even: never at this rate

Slippage from Binance: live order book, 15 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 Binance live order book, 15 min ago	0.43 bp	5.4 bp −$5	5.4 bp −$54	8.5 bp −$848	16.3 bp −$8,137
Sell Deribit live order book, 5 min ago	0.55 bp	5.5 bp −$5	5.9 bp −$59	22.2 bp −$2,219	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
Hotstuff SOL-PERP	−0.0080%	1h	117.42	+0.066%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.34	0.000%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.34	+0.004%	$31.5M	$98.1M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.27	−0.056%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.32	−0.017%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.41	+0.059%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.43	+0.074%	$1.4M	$19.5M	3.1x	as long as short
HTX SOL-USDT	+0.0047%	8h	117.27	−0.061%	$227.8M	$45.6M	75x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0056%	1h	117.39	+0.039%	$26.4M	$25.2M	50x
01 Exchange SOLUSD	+0.0056%	1h	117.39	+0.043%	$100K	$163K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.37	+0.026%	$8.0M	$402.5M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.49	+0.127%	$100K	$691K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.33	−0.010%	—	$363.1M	—	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.37	+0.025%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.35	+0.009%	$13.0M	$59.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.33	−0.004%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.34	+0.003%	$344K	$225K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.35	+0.009%	$67K	$835K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.43	+0.077%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.39	+0.041%	$5.7M	$39.6M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.38	+0.030%	$176.2M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.44	+0.089%	$14.5M	$127.6M	20x	as long as short
Binance SOLUSDTlong	+0.0100%	8h	117.34	long leg	$966.4M	$3.73B	100x
Bybit SOLUSDT	+0.0100%	8h	117.41	+0.059%	$820.1M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.42	+0.068%	$365.3M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.21	−0.111%	$237K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.41	+0.056%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	+0.094%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.39	+0.043%	$857.7M	$646.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.40	+0.051%	$423.9M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.37	+0.028%	$130.1M	$212.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.33	−0.008%	$485.9M	$433.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.50	+0.136%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.36	+0.021%	$24.3M	$119.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.27	−0.063%	$94.2M	$400.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.27	−0.063%	$48.0M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.29	−0.043%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.36	+0.017%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.36	+0.017%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.32	−0.018%	$199K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.33	−0.006%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.35	+0.007%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.35	+0.009%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.37	+0.026%	$45.7M	$100.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.32	−0.018%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.48	+0.117%	—	$220.8M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.56	+0.187%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.47	+0.110%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0157%	1h	117.49	+0.128%	$717.4M	$393.2M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.34	−0.003%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	+0.034%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.47	+0.111%	—	$70.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.31	−0.023%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0381%	1h	117.40	+0.052%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.40	+0.053%	$128K	$3.8M	8.3x	as long as short