Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.035%

Price spread now: Derive against Binance+0.019%46s7-day average −0.039% · you sell dearer than you buy

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

Long on Binance Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 3 days (all we have)−0.199%−$20 · spread now +0.019%, 7d avg −0.039%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Derive is 0.058% dearer against Binance than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.039%): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 32 hours. The two prices were read 46 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	Binance SOLUSDT	119.65	0.0100	pay 0.0100% / 8h	2h 17m	$980.9M	$3.78B	100x
Short	Derive SOL-PERP	119.67	−0.0045	pay 0.0006% / 1h	17m 36s	$2.0M	$3.2M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Binance. 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 BinancebpFee DerivebpOrdersPrice spread, now +0.019%Rate

Funding earned: −$30.42
Price spread: +0.019% → −0.039%: $5.81
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$40.61
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 min ago; Derive: 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 Binance live order book, 12 min ago	0.42 bp	5.4 bp −$5	5.4 bp −$54	9.0 bp −$897	19.0 bp −$9,488
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.418%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.70	+0.040%	$849	$8K	25x	as long as short
Vest SOL-PERP	−0.0074%	1h	119.72	+0.061%	—	$724K	20x	as long as short
Derive SOL-PERPshort	−0.0045%	1h	119.67	+0.019%	$2.0M	$3.2M	13x
dYdX SOL-USD	−0.0002%	1h	119.70	+0.045%	$5.0M	$27.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.78	+0.107%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.76	+0.090%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.78	+0.112%	$180K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0006%	1h	119.80	+0.124%	$26.9M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0025%	1h	119.64	−0.008%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0054%	8h	119.67	+0.017%	$233.1M	$44.6M	75x	as long as short
Hibachi SOL/USDT-P	+0.0056%	1h	119.86	+0.178%	$120K	$622K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.77	+0.102%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.67	+0.017%	$105K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.71	+0.053%	—	$373.6M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.68	+0.025%	$874.0M	$687.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.72	+0.057%	$13.7M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.68	+0.027%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.75	+0.079%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.70	+0.041%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.72	+0.058%	$49K	$788K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.75	+0.084%	$6.3M	$42.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.79	+0.117%	$723.4M	$413.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.72	+0.060%	$180.2M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.75	+0.086%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDTlong	+0.0100%	8h	119.65	long leg	$980.9M	$3.78B	100x
Bybit SOLUSDT	+0.0100%	8h	119.63	−0.016%	$827.2M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.70	+0.042%	$372.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.72	+0.058%	$235K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.76	+0.092%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.006%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.72	+0.058%	$439.8M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.73	+0.066%	$141.4M	$197.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.66	+0.012%	$500.1M	$452.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.71	+0.050%	$24.4M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.82	+0.141%	$27.5M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.86	+0.175%	$96.3M	$401.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.72	+0.060%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.75	+0.079%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.81	+0.134%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.77	+0.100%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.76	+0.090%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.76	+0.093%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.75	+0.085%	$195K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.73	+0.067%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.73	+0.067%	$46.8M	$101.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.68	+0.028%	$8.8M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.78	+0.104%	$8.2M	$418.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.77	+0.101%	—	$220.9M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.75	+0.083%	$6.6M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.70	+0.044%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0179%	1h	119.76	+0.090%	$1.1M	$562K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.69	+0.033%	$51.7M	$87.0M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0222%	1h	119.76	+0.090%	$35.7M	$91.2M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0172%	1h	119.77	+0.103%	$3.6M	—	200x	as long as short