Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.037%

Price spread now: Phemex against Bluefin+0.003%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 Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.567%+$57 on $10k

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

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin SOL-PERP	116.68	0.0100	pay 0.0013% / 1h	59m 07s	$25K	$31K	25x
Short	Phemex SOLUSDT	116.68	0.0100	get 0.0100% / 8h	3h 59m	$45.6M	$102.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.003%Rate

Funding earned: $0
Price spread: +0.003% → 0.000%: $0.26
Slippage, 4 orders: no order book: not counted
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.74
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bluefin: no order-book sample; Phemex: live order book, 5 min ago. 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 Phemex live order book, 5 min ago	0.43 bp	6.8 bp −$7	7.2 bp −$72	15.1 bp −$1,511	doesn't fit

Bluefin: 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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.67	−0.010%	$31.0M	$100.2M	100x	as long as short
Hibachi SOL/USDT-P	−0.0176%	1h	116.98	+0.259%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0099%	1h	116.70	+0.020%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.93	+0.216%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.68	+0.001%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.84	+0.140%	$1.5M	$19.0M	3.1x	as long as short
dYdX SOL-USD	+0.0003%	1h	116.84	+0.138%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.61	−0.058%	$1.9M	$2.8M	13x	as long as short
Polymarket Perps SOL-USD	+0.0037%	1h	116.69	+0.011%	$321K	$2.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.68	0.000%	$7.5M	$404.0M	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	+0.0093%	8h	116.70	+0.016%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.68	+0.001%	$13.0M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.67	−0.010%	$2.2M	$16.6M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.77	+0.080%	$99K	$173K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.68	0.000%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.77	+0.080%	$47K	$877K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.90	+0.191%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.69	+0.012%	$5.4M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.70	+0.016%	$704.7M	$394.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.68	+0.001%	$174.7M	$182.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.82	+0.126%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.65	−0.023%	$971.8M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.55	−0.113%	$778.2M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.60	−0.066%	$369.1M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.66	−0.015%	$231K	$836K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.84	+0.144%	$926K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	+0.017%	$134.0M	$22.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.63	−0.040%	$842.8M	$653.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.61	−0.057%	$369.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.67	−0.010%	$129.1M	$221.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.57	−0.090%	$478.8M	$441.8M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.58	−0.084%	—	$365.9M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.60	−0.066%	$23.1M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.91	+0.204%	$24.6M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.91	+0.202%	$93.9M	$398.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.84	+0.140%	$47.8M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.87	+0.165%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.92	+0.208%	$1.3M	$12.9M	30x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.67	−0.004%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERPlong	+0.0100%	1h	116.68	long leg	$25K	$31K	25x
SunX SOL-USDT	+0.0100%	8h	116.68	0.000%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.67	−0.006%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.63	−0.037%	$226.3M	$47.5M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.68	+0.003%	$45.6M	$102.1M	50x
Extended SOL-USD	+0.0104%	1h	116.61	−0.056%	$8.3M	$37.4M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	+0.037%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.89	+0.183%	—	$231.3M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0122%	1h	116.74	+0.050%	$26.3M	$23.5M	50x	as long as short
Phoenix SOL	+0.0137%	1h	116.99	+0.268%	$6.5M	$13.3M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.64	−0.031%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.68	+0.003%	$51.9M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.68	+0.005%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.71	+0.027%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0510%	1h	116.83	+0.128%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.89	+0.186%	$1.9M	$4.8M	20x	as long as short