Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Bybit+0.176%7-day average +0.004% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

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

Long on Bybit Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days−0.186%−$19 · spread now +0.176%, 7d avg +0.004%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.172% dearer against Bybit than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	116.65	0.0100	pay 0.0100% / 8h	4h 55m	$795.3M	$1.32B	100x
Short	Bulk SOL-USD	116.86	0.0100	get 0.0013% / 1h	55m 04s	$134.6M	$18.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Bybit. 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 BybitbpFee BulkbpOrdersPrice spread, now +0.176%Rate

Funding earned: $0
Price spread: +0.176% → +0.004%: $17.19
Slippage, 4 orders: −$9.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$10.24
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Bulk: live order book, 4 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 Bybit live order book, 4 min ago	0.43 bp	5.9 bp −$6	6.9 bp −$69	11.4 bp −$1,145	19.8 bp −$9,877
Sell Bulk live order book, 4 min ago	4.29 bp	7.8 bp −$8	7.8 bp −$78	7.8 bp −$779	9.4 bp −$4,713

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
ApeX Omni SOLUSDT	−0.0435%	1h	116.33	−0.274%	$1.7M	$6.0M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.77	+0.106%	$913	$8K	25x	as long as short
Vest SOL-PERP	−0.0075%	1h	116.59	−0.053%	—	$605K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.69	+0.030%	$54K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.76	+0.095%	$4.4M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.69	+0.035%	$1.4M	$18.8M	3.1x	as long as short
Hibachi SOL/USDT-P	0.0000%	1h	116.76	+0.092%	$103K	$700K	20x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.63	−0.014%	$1.9M	$2.8M	13x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0047%	1h	116.71	+0.053%	$26.3M	$25.2M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	116.72	+0.060%	$100K	$168K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.66	+0.010%	$7.6M	$404.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.65	−0.002%	$30.8M	$100.0M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.70	+0.044%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.66	+0.007%	$13.0M	$59.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.65	−0.003%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.66	+0.006%	$342K	$228K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.66	+0.009%	$50K	$845K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.75	+0.084%	$1.0M	$521K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.62	−0.026%	$5.6M	$39.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.77	+0.103%	$707.7M	$396.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.68	+0.026%	$175.3M	$182.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.76	+0.096%	$15.5M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.69	+0.034%	$962.1M	$3.77B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	116.65	long leg	$795.3M	$1.32B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.71	+0.051%	$365.0M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.75	+0.086%	$232K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.77	+0.103%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USDshort	+0.0100%	1h	116.86	+0.176%	$134.6M	$18.3M	20x
Gate SOL_USDT	+0.0100%	8h	116.68	+0.026%	$848.8M	$651.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	+0.034%	$416.0M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.66	+0.005%	$126.5M	$216.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.67	+0.015%	$481.8M	$439.0M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.69	+0.035%	—	$365.1M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.68	+0.026%	$23.3M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.68	+0.022%	$24.4M	$115.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.36	−0.247%	$93.5M	$396.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.56	−0.075%	$47.6M	$29.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.76	+0.094%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.65	0.000%	$336K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.69	+0.030%	$148K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.61	−0.032%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.65	0.000%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.65	−0.002%	$226.4M	$46.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.72	+0.060%	$45.6M	$101.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.61	−0.033%	$8.0M	$36.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.76	+0.090%	—	$221.3M	500x	as long as short
Phoenix SOL	+0.0129%	1h	116.77	+0.103%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.780%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.61	−0.034%	$1.1M	$538K	25x	as long as short
Bluefin SOL-PERP	+0.0205%	1h	116.66	+0.010%	$25K	$29K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.62	−0.026%	$51.8M	$71.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.70	+0.041%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.67	+0.018%	$128K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0453%	1h	116.81	+0.136%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.81	+0.141%	$1.9M	$4.9M	20x	as long as short