Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h 0.000%

Price spread now: Bybit against Bulk−0.308%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Bulk Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%−$1 on $10k

Price spread, last 7 days+0.324%+$32 · spread now −0.308%, 7d avg −0.004%

Together, before fees+0.319%+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.304% cheaper against Bulk than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk SOL-USD	117.05	0.0100	pay 0.0013% / 1h	34m 21s	$134.1M	$22.4M	20x
Short	Bybit SOLUSDT	116.69	0.0040	get 0.0040% / 8h	3h 34m	$764.3M	$1.38B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bulk. 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 BulkbpFee BybitbpOrdersPrice spread, now −0.308%Rate

Funding earned: −$12.65
Price spread: −0.308% → −0.004%: −$30.38
Slippage, 4 orders: −$9.41
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$70.45
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Bulk: live order book, 5 min ago; Bybit: live order book, 5 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 Bulk live order book, 5 min ago	4.28 bp	7.8 bp −$8	7.8 bp −$78	7.8 bp −$778	12.7 bp −$6,373
Sell Bybit live order book, 5 min ago	0.43 bp	5.9 bp −$6	7.4 bp −$74	14.2 bp −$1,423	31.5 bp −$15.8K

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	116.90	−0.131%	$31.1M	$101.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0152%	1h	116.83	−0.187%	$103K	$699K	20x	as long as short
Vest SOL-PERP	−0.0087%	1h	116.74	−0.260%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.91	−0.116%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.77	−0.243%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.93	−0.104%	$1.5M	$19.0M	3.1x	as long as short
dYdX SOL-USD	+0.0007%	1h	116.87	−0.153%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0011%	1h	116.68	−0.318%	$1.9M	$2.9M	13x	as long as short
Bybit SOLUSDTshort	+0.0040%	8h	116.69	−0.308%	$764.3M	$1.38B	100x
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.91	−0.117%	$7.6M	$405.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0080%	1h	116.79	−0.221%	$99K	$174K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.75	−0.256%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.85	−0.168%	$13.1M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.83	−0.190%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.76	−0.250%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.77	−0.238%	$61K	$893K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.84	−0.176%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.78	−0.231%	$5.5M	$40.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.89	−0.139%	$705.6M	$394.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.81	−0.206%	$175.0M	$183.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.87	−0.157%	$15.8M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.76	−0.247%	$974.8M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.73	−0.273%	$367.0M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.88	−0.144%	$229K	$846K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.83	−0.187%	$922K	$8.8M	20x	as long as short
Bulk SOL-USDlong	+0.0100%	1h	117.05	long leg	$134.1M	$22.4M	20x
Gate SOL_USDT	+0.0100%	8h	116.79	−0.221%	$852.8M	$661.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.76	−0.247%	$366.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.80	−0.209%	$129.2M	$223.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.71	−0.290%	$481.7M	$445.5M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.77	−0.242%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.89	−0.136%	$23.1M	$39.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.73	−0.269%	$24.5M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.91	−0.123%	$93.9M	$399.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.75	−0.256%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.97	−0.065%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.88	−0.144%	$1.3M	$12.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.75	−0.256%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.75	−0.256%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.76	−0.248%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.81	−0.202%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.89	−0.136%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.87	−0.155%	$226.5M	$48.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.91	−0.119%	$45.8M	$103.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.68	−0.316%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.99	−0.050%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.88	−0.141%	—	$231.5M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0137%	1h	116.79	−0.225%	$26.3M	$23.3M	50x	as long as short
Phoenix SOL	+0.0151%	1h	117.04	−0.008%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.72	−0.277%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.90	−0.127%	$52.1M	$67.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.76	−0.250%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.82	−0.193%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0524%	1h	116.88	−0.145%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.86	−0.158%	$1.9M	$4.8M	20x	as long as short