Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.058%

Price spread now: Deribit against BloFin+0.127%57s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.234% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.127%, 7d avg +0.023%

Together, before fees−0.314%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.104% dearer against BloFin than usual: you sell high and buy low (spread +0.127% now, against its 7-day average of +0.023%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.7 days. The two prices were read 57 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	BloFin SOL-USDT	117.92	0.0220	pay 0.0220% / 8h	5h 15m	$51.7M	$71.7M	125x
Short	Deribit SOL_USDC-PERPETUAL	118.07	0.0092	get 0.0012% / 1h	15m 56s	$26.5M	$24.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.127%Rate

Funding earned: −$26.82
Price spread: +0.127% → +0.023%: $10.45
Slippage, 4 orders: −$4.42
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$39.79
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from BloFin: 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 BloFin live order book, 3 min ago	0.85 bp	6.8 bp −$7	6.8 bp −$68	9.3 bp −$927	16.4 bp −$8,194
Sell Deribit live order book, 3 min ago	0.30 bp	4.5 bp −$5	5.3 bp −$53	12.9 bp −$1,287	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	−0.0126%	1h	118.00	+0.066%	$25K	$28K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.98	+0.050%	$923	$8K	25x	as long as short
Vest SOL-PERP	−0.0067%	1h	117.93	+0.004%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	118.03	+0.089%	$31.7M	$98.7M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.95	+0.027%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.04	+0.101%	$58K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.98	+0.048%	$4.5M	$24.1M	20x	as long as short
Hibachi SOL/USDT-P	+0.0048%	1h	117.92	+0.003%	$105K	$696K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	118.05	+0.110%	$100K	$165K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	118.04	+0.101%	$8.0M	$405.0M	50x	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	+0.0090%	8h	118.04	+0.098%	$1.0M	$5.8M	100x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0092%	1h	118.07	+0.127%	$26.5M	$24.9M	50x
Lighter SOL	+0.0096%	1h	118.02	+0.082%	$13.2M	$59.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.00	+0.070%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.02	+0.082%	$346K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.99	+0.059%	$54K	$852K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.02	+0.085%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.99	+0.063%	$5.8M	$38.9M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.00	+0.068%	$177.8M	$180.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.00	+0.070%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.02	+0.085%	$972.4M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.05	+0.110%	$832.1M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.91	−0.008%	$367.3M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.90	−0.017%	$239K	$856K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.00	+0.071%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.59	−0.282%	$135.8M	$17.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	118.01	+0.076%	$860.0M	$653.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.02	+0.085%	$427.1M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.01	+0.079%	$130.3M	$212.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.92	−0.003%	$488.5M	$431.2M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.98	+0.050%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.01	+0.076%	$23.7M	$36.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.04	+0.103%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.94	+0.015%	$94.7M	$393.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.97	+0.041%	$48.3M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.02	+0.082%	$1.7M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.86	−0.051%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.02	+0.085%	$354K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.05	+0.107%	$200K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.95	+0.025%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.01	+0.076%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.91	−0.010%	$229.0M	$45.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.99	+0.059%	$46.0M	$100.3M	50x	as long as short
Kalshi KXSOLPERP	+0.0102%	8h	118.02	+0.083%	$1.4M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.98	+0.050%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.95	+0.029%	—	$215.6M	500x	as long as short
Phoenix SOL	+0.0129%	1h	118.08	+0.136%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	118.06	+0.117%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0176%	1h	118.12	+0.170%	$722.6M	$389.8M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.99	+0.057%	$1.1M	$536K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.365%	$4K	$2K	12x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	117.92	long leg	$51.7M	$71.7M	125x
Perpl SOL	+0.0223%	43m	118.02	+0.084%	$128K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0171%	1h	118.04	+0.098%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0406%	1h	117.92	−0.001%	$25K	$51K	20x	as long as short