Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0163%/8h= −17.9% APRpaid last 24h −0.030%

Price spread now: Derive against BingX−0.092%7-day average −0.006% · you buy dearer than you sell

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

Long on BingX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.092%, 7d avg −0.006%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Derive is 0.086% cheaper against BingX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDC	118.69	0.0080	pay 0.0080% / 8h	16m 10s	—	$10.5M	—
Short	Derive SOL-PERP	118.58	−0.0083	pay 0.0010% / 1h	16m 10s	$2.0M	$2.8M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.092%Rate

Funding earned: −$34.27
Price spread: −0.092% → −0.006%: −$8.59
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$58.87
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 7 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 BingX live order book, 7 min ago	0.51 bp	6.5 bp −$6	9.5 bp −$95	13.8 bp −$1,375	26.6 bp −$13.3K
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
Derive SOL-PERPshort	−0.0083%	1h	118.58	−0.092%	$2.0M	$2.8M	13x
Hotstuff SOL-PERP	−0.0080%	1h	118.68	−0.014%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.63	−0.051%	—	$723K	20x	as long as short
ApeX Omni SOLUSDT	−0.0026%	1h	118.71	+0.010%	$1.5M	$6.2M	50x	as long as short
dYdX SOL-USD	−0.0014%	1h	118.70	+0.007%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.68	−0.013%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.71	+0.016%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.70	+0.003%	$175K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0026%	1h	118.74	+0.040%	$26.6M	$25.8M	50x	as long as short
Gate SOL_USDT	+0.0074%	8h	118.67	−0.020%	$867.3M	$685.1M	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	+0.0076%	8h	118.68	−0.015%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0079%	8h	118.63	−0.057%	$230.9M	$45.2M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.72	+0.022%	$103K	$158K	20x	as long as short
BingX SOL-USDClong	+0.0080%	8h	118.69	long leg	—	$10.5M	—
Lighter SOL	+0.0096%	1h	118.69	−0.003%	$13.4M	$56.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.68	−0.013%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.60	−0.080%	$120K	$632K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.65	−0.036%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.74	+0.042%	$8.1M	$416.9M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.73	+0.027%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.67	−0.020%	$45K	$802K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.72	+0.018%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.85	+0.133%	$718.6M	$410.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.67	−0.020%	$178.6M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.74	+0.039%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.71	+0.016%	$977.9M	$3.84B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.75	+0.051%	$824.0M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.73	+0.030%	$369.8M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.63	−0.054%	$228K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.73	+0.030%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	+0.028%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.69	−0.003%	$426.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.69	−0.007%	$137.4M	$205.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.72	+0.024%	$492.5M	$460.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.74	+0.039%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.70	+0.003%	$27.0M	$129.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.65	−0.036%	$95.3M	$403.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.69	−0.006%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.61	−0.071%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.68	−0.012%	$363K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.66	−0.027%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.70	+0.002%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.68	−0.016%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.69	−0.003%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.71	+0.013%	$46.4M	$102.9M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.70	+0.005%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.66	−0.027%	$8.6M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.71	+0.016%	$32.6M	$97.4M	100x	as long as short
Aftermath Perps SOLUSD	+0.0112%	1h	118.70	+0.006%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.69	−0.003%	—	$226.6M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0068%	1h	118.68	−0.013%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.182%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.67	−0.021%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.55	−0.121%	$51.9M	$80.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.68	−0.008%	$1.8M	$5.1M	20x	as long as short