Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h −0.009%

Price spread now: BingX against Bullet−0.005%7-day average −0.074% · 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−$18as in the Price arb table

costs, in and out, $10k−$250.247% of the position

Long on Bullet Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 7 days−0.024%−$2 · spread now −0.005%, 7d avg −0.074%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BingX is 0.068% dearer against Bullet than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SOL-USD	115.79	0.0057	pay 0.0007% / 1h	39m 25s	$146K	$1.6M	20x
Short	BingX SOL-USDC	115.78	0.0100	get 0.0100% / 8h	2h 39m	—	$10.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bullet. 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 BulletbpFee BingXbpOrdersPrice spread, now −0.005%Rate

Funding earned: $9.04
Price spread: −0.005% → −0.074%: $6.84
Slippage, 4 orders: −$6.73
Fee Bullet: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$8.85
Costs to cover: 0.247%
Break-even: 13.8 days

Slippage from Bullet: live order book, 5 min ago; BingX: live order book, 9 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 Bullet live order book, 5 min ago	0.17 bp	6.2 bp −$6	9.5 bp −$95	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	0.39 bp	6.3 bp −$6	8.9 bp −$89	14.1 bp −$1,406	34.7 bp −$17.4K

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	115.79	0.000%	$31.7M	$103.8M	100x	as long as short
Hibachi SOL/USDT-P	−0.0224%	1h	116.07	+0.242%	$104K	$705K	20x	as long as short
Derive SOL-PERP	−0.0125%	1h	115.73	−0.052%	$1.9M	$2.9M	13x	as long as short
Vest SOL-PERP	−0.0120%	1h	115.75	−0.034%	—	$625K	20x	as long as short
Bybit SOLUSDT	−0.0115%	8h	115.78	−0.007%	$739.7M	$1.41B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	115.85	+0.050%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.82	+0.031%	$41K	—	150x	as long as short
01 Exchange SOLUSD	0.0000%	1h	115.71	−0.067%	$98K	$177K	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.81	+0.017%	$1.5M	$19.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.71	−0.071%	$112K	$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-USD	+0.0013%	1h	115.76	−0.027%	$4.3M	$24.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.78	−0.011%	$7.8M	$403.8M	50x	as long as short
Bullet SOL-USDlong	+0.0057%	1h	115.79	long leg	$146K	$1.6M	20x
Bitget SOLUSDT	+0.0071%	8h	115.78	−0.010%	$479.6M	$454.5M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0090%	1h	115.86	+0.066%	$26.2M	$22.4M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	115.83	+0.033%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.75	−0.034%	$12.9M	$60.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.74	−0.041%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.80	+0.010%	$348K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.66	−0.111%	$65K	$906K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	115.73	−0.053%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.66	−0.111%	$5.3M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.82	+0.028%	$688.5M	$397.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	115.78	−0.007%	$173.5M	$183.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	115.79	−0.001%	$15.5M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.83	+0.036%	$966.0M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.82	+0.028%	$359.9M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.67	−0.102%	$213K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.76	−0.021%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.24	+0.388%	$130.1M	$16.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.73	−0.050%	$837.8M	$663.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.78	−0.007%	$357.3M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.71	−0.067%	$123.7M	$227.9M	75x	as long as short
BingX SOL-USDCshort	+0.0100%	8h	115.78	−0.005%	—	$10.6M	—
Backpack SOL_USDC_PERP	+0.0100%	1h	115.83	+0.036%	$22.8M	$40.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.96	+0.145%	$25.0M	$114.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.27	+0.417%	$93.3M	$402.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.81	+0.018%	$47.4M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.14	+0.301%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.80	+0.010%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.71	−0.067%	$317K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.81	+0.016%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.82	+0.031%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.78	−0.007%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.71	−0.064%	$224.2M	$49.9M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	115.82	+0.028%	$45.1M	$103.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	115.77	−0.012%	$7.9M	$38.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	115.73	−0.050%	—	$238.8M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.658%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.27	+0.416%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.72	−0.061%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.81	+0.019%	$51.7M	$67.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.81	+0.016%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.78	−0.010%	$1.9M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0603%	1h	116.16	+0.321%	$25K	$52K	20x	as long as short