Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:55 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.064%

Price spread now: Perpl against Bluefin+0.025%7-day average — · you sell dearer than you buy

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

Long on Bluefin Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.319%+$32 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

The price spread pays, funding is against you. Perpl is 0.025% dearer against Bluefin than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. Mind the row above: over the last 7 days funding on this pair paid +0.319%, 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	Bluefin SOL-PERP	117.73	0.0100	pay 0.0013% / 1h	30m 31s	$37K	$16K	25x
Short	Perpl SOL	117.77	0	get 0.0000% / 43m	35m 31s	$129K	$3.9M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Bluefin. 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 BluefinbpFee PerplbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$21
Price spread: +0.025% → 0.000%: $2.55
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$39.25
Costs to cover: 0.208%
Break-even: never at this rate

Slippage unknown: Bluefin: no order-book sample; Perpl: 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 Bluefin no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Bluefin and Perpl: 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 54 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
Hotstuff SOL-PERP	−0.0080%	1h	117.76	+0.024%	$921	$8K	25x	as long as short
Vest SOL-PERP	−0.0071%	1h	117.75	+0.015%	—	$607K	20x	as long as short
Hibachi SOL/USDT-P	−0.0056%	1h	117.84	+0.087%	$92K	$692K	20x	as long as short
ApeX Omni SOLUSDT	−0.0052%	1h	117.67	−0.059%	$1.5M	$6.1M	50x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.65	−0.069%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.75	+0.012%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.71	−0.021%	$4.5M	$24.3M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.77	+0.032%	$1.4M	$21.3M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	117.77	+0.025%	$129K	$3.9M	8.3x
HTX SOL-USDT	+0.0013%	8h	117.69	−0.039%	$228.8M	$45.5M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx SOL/USDC	+0.0018%	1h	117.82	+0.070%	$2.0M	$4.6M	20x	as long as short
Gate SOL_USDT	+0.0033%	8h	117.80	+0.055%	$854.4M	$660.2M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.71	−0.020%	$31.5M	$98.7M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0068%	1h	117.78	+0.039%	$26.4M	$25.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.73	0.000%	$8.0M	$410.1M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.77	+0.031%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0086%	8h	117.75	+0.009%	$1.1M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.71	−0.018%	$13.0M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.70	−0.026%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.90	+0.140%	$103K	$164K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.73	−0.003%	$345K	$259K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.76	+0.019%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.78	+0.038%	$63K	$853K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.86	+0.106%	$5.7M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.83	+0.079%	$719.6M	$402.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.76	+0.020%	$176.9M	$180.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.78	+0.037%	$14.4M	$131.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.87	+0.115%	$972.5M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.88	+0.120%	$821.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.86	+0.106%	$366.1M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.57	−0.140%	$238K	$890K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.84	+0.086%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.55	−0.155%	$134.7M	$14.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.77	+0.030%	$428.1M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.71	−0.019%	$131.6M	$210.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.83	+0.076%	$487.7M	$441.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.72	−0.013%	$23.7M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.72	−0.015%	$24.4M	$125.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.62	−0.095%	$94.5M	$405.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.61	−0.107%	$48.2M	$29.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.81	+0.064%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.83	+0.081%	$358K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.77	+0.033%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERPlong	+0.0100%	1h	117.73	long leg	$37K	$16K	25x
SunX SOL-USDT	+0.0100%	8h	117.73	−0.006%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.72	−0.013%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.75	+0.013%	$45.8M	$101.8M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.89	+0.132%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.80	+0.055%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.72	−0.014%	—	$227.2M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.82	+0.071%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	118.20	+0.395%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0172%	1h	117.74	+0.003%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0312%	1h	117.73	−0.003%	$25K	$51K	20x	as long as short