Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.036%

Price spread now: Derive against Bybit−0.010%7-day average −0.038% · you buy dearer than you sell

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

Long on Bybit Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 3 days (all we have)−0.184%−$18 · spread now −0.010%, 7d avg −0.038%

Together, before fees−0.130%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Derive is 0.028% dearer against Bybit than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.038%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.054%, 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	Bybit SOLUSDT	119.54	0.0100	pay 0.0100% / 8h	2h 17m	$826.6M	$1.27B	100x
Short	Derive SOL-PERP	119.53	−0.0056	pay 0.0007% / 1h	17m 04s	$2.0M	$3.2M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DerivebpOrdersPrice spread, now −0.010%Rate

Funding earned: −$32.84
Price spread: −0.010% → −0.038%: $2.79
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Derive: 3 bp × 2 orders: −$6
Net: −$47.05
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Derive: 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 Bybit live order book, 2 min ago	0.42 bp	6.1 bp −$6	7.3 bp −$73	11.8 bp −$1,175	22.7 bp −$11.3K
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.327%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.70	+0.131%	$849	$8K	25x	as long as short
Vest SOL-PERP	−0.0074%	1h	119.60	+0.049%	—	$724K	20x	as long as short
Derive SOL-PERPshort	−0.0056%	1h	119.53	−0.010%	$2.0M	$3.2M	13x
dYdX SOL-USD	−0.0002%	1h	119.70	+0.136%	$5.0M	$27.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.63	+0.074%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.72	+0.151%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.66	+0.100%	$180K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.65	+0.090%	$26.8M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0025%	1h	119.65	+0.090%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0052%	8h	119.57	+0.024%	$232.9M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.63	+0.070%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.79	+0.207%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.67	+0.108%	$105K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.56	+0.019%	—	$373.7M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.55	+0.008%	$872.9M	$687.6M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.57	+0.028%	$13.6M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.55	+0.011%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.60	+0.049%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.70	+0.132%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.72	+0.150%	$49K	$788K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.68	+0.118%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.66	+0.100%	$722.7M	$413.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.56	+0.016%	$180.0M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.75	+0.178%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.53	−0.009%	$979.9M	$3.78B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	119.54	long leg	$826.6M	$1.27B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	119.51	−0.026%	$372.0M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.72	+0.150%	$235K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.76	+0.183%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.098%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.58	+0.033%	$437.2M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.58	+0.037%	$141.2M	$197.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.54	−0.003%	$499.6M	$452.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.56	+0.016%	$24.3M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.82	+0.232%	$27.5M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.86	+0.267%	$96.3M	$401.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.72	+0.152%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.75	+0.171%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.80	+0.217%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.62	+0.066%	$370K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.62	+0.062%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.61	+0.059%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.58	+0.029%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.57	+0.024%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.58	+0.033%	$46.7M	$101.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.56	+0.020%	$8.8M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.63	+0.075%	$8.2M	$417.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.62	+0.067%	—	$220.9M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.75	+0.175%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0092%	1h	119.63	+0.077%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.70	+0.136%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.58	+0.033%	$1.1M	$562K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.57	+0.024%	$51.7M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.58	+0.031%	$35.6M	$91.2M	100x	as long as short