Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h −0.022%

Price spread now: Deribit against Bitget+0.079%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

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

costs, in and out, $10k−$230.227% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 3 days (all we have)−0.165%−$17 · spread now +0.079%, 7d avg +0.027%

Together, before fees−0.202%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Deribit is 0.052% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SOLUSDT	119.23	0.0100	pay 0.0100% / 8h	1h 01m	$496.5M	$455.6M	100x
Short	Deribit SOL_USDC-PERPETUAL	119.33	0.0116	get 0.0015% / 1h	1m 37s	$26.7M	$27.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now +0.079%Rate

Funding earned: $3.43
Price spread: +0.079% → +0.027%: $5.17
Slippage, 4 orders: −$3.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$14.07
Costs to cover: 0.227%
Break-even: 35.7 days

Slippage from Bitget: 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 Bitget live order book, 3 min ago	0.04 bp	6.1 bp −$6	7.9 bp −$79	11.5 bp −$1,150	doesn't fit
Sell Deribit live order book, 3 min ago	0.96 bp	4.5 bp −$5	5.1 bp −$51	18.2 bp −$1,824	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
Bluefin SOL-PERP	−0.0178%	1h	119.25	+0.015%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.24	+0.008%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0064%	1h	119.20	−0.025%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.20	−0.029%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.29	+0.045%	$115K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.26	+0.025%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.28	+0.039%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.27	+0.029%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.23	−0.003%	$6.5M	$13.6M	25x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.27	+0.030%	$104K	$157K	20x	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	+0.0070%	8h	119.28	+0.034%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.24	+0.002%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	119.21	−0.020%	$118K	$608K	20x	as long as short
HTX SOL-USDT	+0.0082%	8h	119.20	−0.026%	$232.0M	$45.0M	75x	as long as short
Aftermath Perps SOLUSD	+0.0083%	1h	119.16	−0.059%	$24K	$47K	20x	as long as short
Gate SOL_USDT	+0.0087%	8h	119.25	+0.013%	$870.3M	$690.6M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.28	+0.036%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.24	+0.003%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.16	−0.058%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.24	+0.005%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.26	+0.022%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.23	+0.001%	$6.1M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.38	+0.122%	$720.1M	$410.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.26	+0.022%	$178.6M	$175.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.28	+0.039%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.25	+0.009%	$982.3M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.27	+0.033%	$829.3M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.24	+0.005%	$372.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.26	+0.022%	$233K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.28	+0.037%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.85	−0.322%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.25	+0.013%	$453.9M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.31	+0.061%	$139.8M	$202.5M	75x	as long as short
Bitget SOLUSDTlong	+0.0100%	8h	119.23	long leg	$496.5M	$455.6M	100x
Backpack SOL_USDC_PERP	+0.0100%	1h	119.28	+0.039%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.17	−0.055%	$27.5M	$128.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.22	−0.014%	$95.8M	$401.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.21	−0.020%	$48.8M	$31.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.17	−0.049%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.28	+0.039%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.26	+0.022%	$369K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.27	+0.032%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.27	+0.027%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.27	+0.030%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.26	+0.022%	$46.6M	$102.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.21	−0.019%	$8.7M	$36.1M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.30	+0.057%	$8.3M	$416.8M	50x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0116%	1h	119.33	+0.079%	$26.7M	$27.7M	50x
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.25	+0.012%	—	$224.8M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.28	+0.038%	$32.6M	$96.8M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0071%	1h	119.28	+0.042%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.24	+0.005%	$1.1M	$549K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.28	+0.042%	$1.7M	$5.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.02	−0.179%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.20	−0.029%	$52.0M	$84.0M	125x	as long as short