Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0209%/8h= −22.9% APRpaid last 24h −0.079%

Price spread now: dYdX against BloFin−0.011%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.334%−$33 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.011%, 7d avg +0.022%

Together, before fees−0.246%−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and dYdX is 0.034% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SOL-USDT	115.79	0.0220	pay 0.0220% / 8h	2h 23m	$51.6M	$67.7M	125x
Short	dYdX SOL-USD	115.78	0.0011	get 0.0001% / 1h	23m 21s	$4.3M	$24.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$43.98
Price spread: −0.011% → +0.022%: −$3.37
Slippage, 4 orders: −$8.21
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$77.56
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; dYdX: live order book, 1 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, 6 min ago	0.86 bp	6.9 bp −$7	6.9 bp −$69	8.8 bp −$885	14.9 bp −$7,451
Sell dYdX live order book, 1 min ago	0.86 bp	8.0 bp −$8	26.4 bp −$264	51.6 bp −$5,156	111.1 bp −$55.5K

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
Kraken Futures PF_SOLUSD	−0.0241%	1h	115.76	−0.024%	$31.6M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0160%	1h	115.78	−0.008%	$104K	$693K	20x	as long as short
BingX SOL-USDT	−0.0116%	8h	115.72	−0.062%	—	$368.1M	—	as long as short
Bybit SOLUSDT	−0.0111%	8h	115.69	−0.085%	$739.4M	$1.42B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.25	+0.398%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0073%	1h	115.67	−0.100%	$1.9M	$2.9M	13x	as long as short
Vest SOL-PERP	−0.0072%	1h	115.72	−0.058%	—	$625K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.73	−0.053%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.78	−0.009%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.72	−0.059%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USDshort	+0.0011%	1h	115.78	−0.011%	$4.3M	$24.0M	20x
01 Exchange SOLUSD	+0.0024%	1h	115.74	−0.043%	$98K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.79	+0.001%	$7.7M	$402.9M	50x	as long as short
Bitget SOLUSDT	+0.0065%	8h	115.71	−0.067%	$476.9M	$457.1M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0071%	1h	115.80	+0.008%	$26.2M	$22.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	115.77	−0.017%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.77	−0.017%	$12.9M	$61.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.77	−0.017%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.74	−0.042%	$348K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.68	−0.095%	$62K	$911K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	115.80	+0.004%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.75	−0.030%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.79	0.000%	$684.6M	$400.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	115.72	−0.061%	$174.1M	$179.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	115.79	+0.001%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.72	−0.060%	$964.4M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.73	−0.052%	$361.0M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.77	−0.017%	$215K	$870K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.74	−0.047%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.84	+0.044%	$125.6M	$19.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.70	−0.078%	$839.6M	$669.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.73	−0.052%	$355.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.70	−0.079%	$124.9M	$229.8M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.84	+0.043%	$22.8M	$38.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.53	−0.228%	$24.7M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.59	−0.174%	$92.8M	$406.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.67	−0.104%	$47.3M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.61	−0.155%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.81	+0.017%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.69	−0.086%	$318K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	115.71	−0.071%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.74	−0.045%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.76	−0.030%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.76	−0.026%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.81	+0.018%	$224.3M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	115.79	0.000%	$45.1M	$104.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	115.70	−0.079%	$7.9M	$38.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	115.71	−0.066%	—	$240.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.112%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	115.69	−0.086%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.68	−0.097%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	115.79	long leg	$51.6M	$67.7M	125x
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.71	−0.073%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.76	−0.025%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0576%	1h	115.77	−0.020%	$25K	$53K	20x	as long as short