Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.036%

Price spread now: dYdX against Bybit+0.032%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days+0.143%+$14 · spread now +0.032%, 7d avg −0.009%

Together, before fees+0.079%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.041% dearer against Bybit than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.009%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.064% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	118.81	0.0100	pay 0.0100% / 8h	2h 49m	$821.3M	$1.26B	100x
Short	dYdX SOL-USD	118.85	0	get 0.0000% / 1h	49m 39s	$4.9M	$26.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$21
Price spread: +0.032% → −0.009%: $4.05
Slippage, 4 orders: −$16.82
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$54.76
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; dYdX: 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 Bybit live order book, 5 min ago	0.42 bp	5.9 bp −$6	6.1 bp −$61	9.8 bp −$976	20.8 bp −$10.4K
Sell dYdX live order book, 5 min ago	7.99 bp	13.0 bp −$13	23.2 bp −$232	27.6 bp −$2,761	43.9 bp −$21.9K

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	118.68	−0.111%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.74	−0.063%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.79	−0.017%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.81	−0.005%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0067%	1h	118.96	+0.122%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.85	+0.029%	$49K	—	150x	as long as short
dYdX SOL-USDshort	0.0000%	1h	118.85	+0.032%	$4.9M	$26.8M	20x
Kalshi KXSOLPERP	0.0000%	8h	118.90	+0.072%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.90	+0.074%	$180K	$4.1M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0017%	1h	118.85	+0.036%	$26.7M	$27.8M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0042%	1h	118.93	+0.096%	$1.5M	$6.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0057%	8h	118.83	+0.012%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.88	+0.057%	$104K	$153K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.74	−0.057%	$231.4M	$43.8M	75x	as long as short
Gate SOL_USDT	+0.0081%	8h	118.78	−0.027%	$857.8M	$675.2M	100x	as long as short
KuCoin SOLUSDTM	+0.0089%	8h	118.87	+0.050%	$144.3M	$197.6M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.79	−0.016%	$13.4M	$53.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.85	+0.030%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.85	+0.030%	$353K	$746K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.77	−0.036%	$1.0M	$524K	50x	as long as short
Bitget SOLUSDT	+0.0099%	8h	118.76	−0.044%	$495.7M	$450.5M	100x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.79	−0.019%	$46K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.83	+0.012%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.96	+0.125%	$717.5M	$424.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.84	+0.025%	$179.2M	$174.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.82	+0.009%	$12.3M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.79	−0.018%	$973.7M	$3.75B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	118.81	long leg	$821.3M	$1.26B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	118.76	−0.044%	$368.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	+0.040%	$233K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.82	+0.009%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.059%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.78	−0.027%	$466.9M	$1.07B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.79	−0.019%	—	$372.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.82	+0.007%	$24.2M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	+0.037%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	+0.082%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	+0.268%	$48.7M	$33.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.86	+0.040%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.89	+0.066%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.80	−0.010%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.83	+0.013%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.88	+0.054%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.79	−0.019%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.83	+0.015%	$46.4M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.73	−0.067%	$8.6M	$37.4M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.84	+0.026%	$8.1M	$414.5M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	118.85	+0.029%	$123K	$622K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.91	+0.078%	—	$218.7M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.158%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.81	−0.001%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.82	+0.005%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.81	−0.002%	$51.7M	$90.6M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.80	−0.006%	$36.1M	$90.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.82	+0.010%	$3.5M	—	200x	as long as short