Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.020%

Price spread now: Binance against Deribit−0.049%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 3 days (all we have)+0.143%+$14 · spread now −0.049%, 7d avg −0.017%

Together, before fees+0.211%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.031% cheaper against Deribit than usual: you would sell low and buy high (spread −0.049% now, against its 7-day average of −0.017%). If the spread goes back, that is −$3 on $10k: about 6.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	118.53	0.0083	pay 0.0010% / 1h	11m 07s	$26.6M	$25.8M	50x
Short	Binance SOLUSDT	118.47	0.0100	get 0.0100% / 8h	11m 07s	$976.4M	$3.83B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.049%Rate

Funding earned: $3.67
Price spread: −0.049% → −0.017%: −$3.14
Slippage, 4 orders: −$3.44
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$19.91
Costs to cover: 0.204%
Break-even: 45.0 days

Slippage from Deribit: live order book, 3 min ago; Binance: live order book, 3 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 Deribit live order book, 3 min ago	0.04 bp	5.0 bp −$5	5.5 bp −$55	17.5 bp −$1,746	doesn't fit
Sell Binance live order book, 3 min ago	0.42 bp	5.4 bp −$5	5.9 bp −$59	9.0 bp −$901	18.2 bp −$9,105

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
Derive SOL-PERP	−0.0100%	1h	118.40	−0.111%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.49	−0.030%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.46	−0.059%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	118.49	−0.031%	$4.8M	$28.0M	20x	as long as short
ApeX Omni SOLUSDT	−0.0014%	1h	118.53	−0.001%	$1.5M	$6.2M	50x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.50	−0.026%	$113K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.62	+0.072%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.49	−0.031%	$174K	$3.9M	8.3x	as long as short
Gate SOL_USDT	+0.0071%	8h	118.46	−0.059%	$863.9M	$686.6M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0076%	8h	118.50	−0.029%	$1.0M	$5.9M	100x	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	+0.0078%	8h	118.44	−0.074%	$230.5M	$45.2M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.52	−0.009%	$103K	$158K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.46	−0.061%	—	$10.5M	—	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0083%	1h	118.53	long leg	$26.6M	$25.8M	50x
Lighter SOL	+0.0096%	1h	118.47	−0.050%	$13.4M	$56.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.46	−0.057%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.62	+0.072%	$120K	$631K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.45	−0.064%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.50	−0.025%	$8.1M	$415.7M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.52	−0.012%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.50	−0.025%	$45K	$802K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.52	−0.011%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.59	+0.051%	$717.1M	$411.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.49	−0.034%	$178.2M	$177.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.54	+0.005%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	118.47	−0.049%	$976.4M	$3.83B	100x
Bybit SOLUSDT	+0.0100%	8h	118.49	−0.034%	$821.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.47	−0.051%	$369.4M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.58	+0.042%	$229K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.53	+0.002%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	+0.166%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.47	−0.051%	$426.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.49	−0.034%	$137.5M	$206.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.45	−0.064%	$491.3M	$459.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.49	−0.034%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.044%	$26.9M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.54	+0.010%	$95.2M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.53	−0.002%	$48.6M	$31.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.57	+0.034%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.48	−0.042%	$358K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.47	−0.049%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.48	−0.041%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.46	−0.063%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.47	−0.051%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.48	−0.042%	$46.3M	$102.7M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.69	+0.135%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.44	−0.074%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.49	−0.034%	$32.5M	$97.2M	100x	as long as short
Aftermath Perps SOLUSD	+0.0111%	1h	118.62	+0.079%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.61	+0.068%	—	$226.1M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0064%	1h	118.49	−0.035%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.321%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.46	−0.055%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.48	−0.042%	$51.8M	$80.0M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.48	−0.038%	$1.8M	$4.9M	20x	as long as short