Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h +0.019%

Price spread now: GMX against BingX−0.089%7-day average +0.067% · you buy dearer than you sell

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.082%+$8 on $10k

Price spread, last 3 days (all we have)+0.113%+$11 · spread now −0.089%, 7d avg +0.067%

Together, before fees+0.195%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and GMX is 0.157% cheaper against BingX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.067%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.082%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDC	118.59	0.0080	pay 0.0080% / 8h	10m 39s	—	$10.5M	—
Short	GMX SOL/USD [SOL-USDC]	118.49	L +0.0167% / S −0.0064%	get 0.0008% / 1h	10m 39s	$3.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$3.28
Price spread: −0.089% → +0.067%: −$15.66
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$40.95
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 min ago; GMX: 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, 2 min ago	0.34 bp	7.1 bp −$7	9.1 bp −$91	13.7 bp −$1,375	27.8 bp −$13.9K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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-PERP	−0.0100%	1h	118.40	−0.166%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.49	−0.085%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.46	−0.113%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0021%	1h	118.58	−0.013%	$4.8M	$28.0M	20x	as long as short
ApeX Omni SOLUSDT	−0.0014%	1h	118.53	−0.056%	$1.5M	$6.2M	50x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.50	−0.081%	$113K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.62	+0.018%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.49	−0.086%	$174K	$3.9M	8.3x	as long as short
Gate SOL_USDT	+0.0071%	8h	118.55	−0.038%	$864.9M	$686.8M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0076%	8h	118.50	−0.083%	$1.0M	$5.9M	100x	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	+0.0078%	8h	118.44	−0.129%	$230.5M	$45.2M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.69	+0.080%	$104K	$158K	20x	as long as short
BingX SOL-USDClong	+0.0080%	8h	118.59	long leg	—	$10.5M	—
Deribit SOL_USDC-PERPETUAL	+0.0083%	1h	118.53	−0.055%	$26.6M	$25.8M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.62	+0.020%	$13.4M	$56.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.61	+0.012%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.62	+0.017%	$120K	$631K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.45	−0.118%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.50	−0.080%	$8.1M	$415.7M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.64	+0.036%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.62	+0.021%	$45K	$802K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.52	−0.066%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.65	+0.046%	$717.4M	$411.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.60	+0.001%	$178.3M	$177.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.65	+0.046%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.63	+0.029%	$977.7M	$3.83B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.63	+0.030%	$822.4M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.63	+0.030%	$369.8M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.58	−0.013%	$229K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.68	+0.069%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	+0.111%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.61	+0.013%	$425.6M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.56	−0.026%	$137.6M	$206.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.64	+0.041%	$492.2M	$459.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.49	−0.089%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.099%	$26.9M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.54	−0.045%	$95.2M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.53	−0.057%	$48.6M	$31.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.57	−0.021%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.48	−0.097%	$358K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.47	−0.104%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.48	−0.096%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.46	−0.117%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.47	−0.105%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.48	−0.097%	$46.3M	$102.7M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.69	+0.080%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.63	+0.027%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.49	−0.089%	$32.5M	$97.2M	100x	as long as short
Aftermath Perps SOLUSD	+0.0111%	1h	118.62	+0.024%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.61	+0.013%	—	$226.1M	500x	as long as short
GMX SOL/USD [SOL-USDC]short	L +0.0167% / S −0.0064%	1h	118.49	−0.089%	$3.7M	—	200x
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.266%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.46	−0.110%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.48	−0.097%	$51.8M	$80.0M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.66	+0.054%	$1.8M	$4.9M	20x	as long as short