Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.011%

Price spread now: Deribit against BingX+0.063%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 3 days (all we have)−0.125%−$13 · spread now +0.063%, 7d avg +0.023%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.040% dearer against BingX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.023%. Mind the row above: over the last 7 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDT	118.92	0.0080	pay 0.0080% / 8h	7h 21m	—	$366.3M	—
Short	Deribit SOL_USDC-PERPETUAL	119.00	0.0106	get 0.0013% / 1h	21m 23s	$26.7M	$24.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.063%Rate

Funding earned: $5.37
Price spread: +0.063% → +0.023%: $4.03
Slippage, 4 orders: −$4.78
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$12.38
Costs to cover: 0.218%
Break-even: 23.1 days

Slippage from BingX: live order book, 3 min ago; Deribit: 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 BingX live order book, 3 min ago	0.80 bp	5.8 bp −$6	5.8 bp −$58	7.8 bp −$781	10.7 bp −$5,372
Sell Deribit live order book, 3 min ago	0.80 bp	4.5 bp −$4	5.1 bp −$51	16.4 bp −$1,639	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	118.96	+0.031%	$930	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.86	−0.056%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.83	−0.083%	$2.0M	$2.7M	13x	as long as short
dYdX SOL-USD	−0.0022%	1h	118.96	+0.026%	$5.0M	$25.7M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.97	+0.037%	$32.4M	$97.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.93	+0.004%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.02	+0.077%	$1.2M	$20.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.90	−0.020%	$154K	$3.8M	8.3x	as long as short
HTX SOL-USDT	+0.0016%	8h	118.87	−0.046%	$231.3M	$44.0M	75x	as long as short
Hibachi SOL/USDT-P	+0.0016%	1h	118.97	+0.037%	$100K	$657K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin SOL-PERP	+0.0026%	1h	118.92	−0.008%	$37K	$17K	25x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	118.87	−0.046%	$104K	$159K	20x	as long as short
BingX SOL-USDTlong	+0.0080%	8h	118.92	long leg	—	$366.3M	—
Orderly PERP_SOL_USDC	+0.0082%	8h	118.92	−0.001%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.95	+0.024%	$8.1M	$409.7M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.90	−0.024%	$14.2M	$56.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.90	−0.019%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.91	−0.009%	$348K	$249K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.91	−0.011%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.88	−0.038%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.88	−0.035%	$5.9M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.99	+0.055%	$724.3M	$396.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.87	−0.046%	$179.5M	$177.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.93	+0.001%	$12.2M	$124.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.91	−0.013%	$979.4M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.94	+0.013%	$823.9M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.92	−0.004%	$370.7M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	−0.055%	$233K	$830K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.89	−0.026%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.07	+0.122%	$136.4M	$9.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	118.89	−0.029%	$854.6M	$668.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.88	−0.038%	$429.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.89	−0.028%	$138.6M	$202.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.93	+0.001%	$493.7M	$439.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.95	+0.021%	$24.1M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.93	0.000%	$25.0M	$130.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.00	+0.067%	$95.6M	$403.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.15	+0.188%	$48.8M	$29.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.04	+0.097%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.97	+0.038%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.88	−0.038%	$354K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.89	−0.025%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.91	−0.012%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.94	+0.013%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.97	+0.038%	$46.6M	$99.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.90	−0.023%	$8.6M	$34.9M	50x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0106%	1h	119.00	+0.063%	$26.7M	$24.8M	50x
Phoenix SOL	+0.0114%	1h	119.17	+0.206%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.95	+0.024%	—	$219.4M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.89	−0.033%	$1.8M	$4.6M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	118.93	0.000%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	+0.071%	$4K	$2K	12x	as long as short
Aftermath Perps SOLUSD	+0.0185%	1h	119.03	+0.088%	$25K	$50K	20x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	118.86	−0.055%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.04	+0.097%	$51.9M	$76.2M	125x	as long as short