Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0197%/8h= +21.6% APRpaid last 24h +0.057%

Price spread now: BloFin against Deribit−0.070%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs+$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.308%+$31 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.070%, 7d avg −0.022%

Together, before fees+0.316%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.048% cheaper against Deribit than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.022%). If the spread goes back, that is −$5 on $10k: about 19 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	118.80	0.0023	pay 0.0003% / 1h	48m 19s	$26.7M	$27.8M	50x
Short	BloFin SOL-USDT	118.72	0.0220	get 0.0220% / 8h	2h 48m	$51.6M	$89.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.070%Rate

Funding earned: $41.41
Price spread: −0.070% → −0.022%: −$4.77
Slippage, 4 orders: −$4.04
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $13.61
Costs to cover: 0.230%
Break-even: 4.7 days

Slippage from Deribit: live order book, 1 min ago; BloFin: live order book, 6 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, 1 min ago	0.80 bp	5.6 bp −$6	6.0 bp −$60	17.3 bp −$1,728	doesn't fit
Sell BloFin live order book, 6 min ago	0.42 bp	6.4 bp −$6	6.4 bp −$64	8.0 bp −$796	12.9 bp −$6,438

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	118.89	+0.073%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.89	+0.069%	$2.0M	$3.2M	13x	as long as short
ApeX Omni SOLUSDT	−0.0100%	1h	118.77	−0.025%	$1.5M	$6.2M	50x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.86	+0.048%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.75	−0.046%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0059%	1h	118.94	+0.116%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.98	+0.146%	$48K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.98	+0.149%	$4.9M	$26.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.86	+0.045%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.94	+0.114%	$180K	$4.1M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUALlong	+0.0023%	1h	118.80	long leg	$26.7M	$27.8M	50x
Orderly PERP_SOL_USDC	+0.0057%	8h	118.97	+0.136%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.97	+0.141%	$105K	$152K	20x	as long as short
HTX SOL-USDT	+0.0073%	8h	118.80	−0.003%	$231.5M	$43.8M	75x	as long as short
Gate SOL_USDT	+0.0084%	8h	118.95	+0.124%	$858.9M	$675.7M	100x	as long as short
KuCoin SOLUSDTM	+0.0092%	8h	118.96	+0.130%	$144.3M	$197.6M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.97	+0.143%	$13.5M	$53.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.96	+0.136%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.99	+0.160%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.93	+0.108%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.95	+0.124%	$46K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.98	+0.149%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.05	+0.208%	$718.0M	$424.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.93	+0.109%	$179.4M	$174.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.98	+0.152%	$12.4M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.95	+0.124%	$972.4M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.98	+0.149%	$822.6M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.95	+0.124%	$368.6M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.69	−0.095%	$233K	$864K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.01	+0.171%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.066%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.94	+0.115%	$467.5M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.94	+0.119%	$496.4M	$449.1M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.93	+0.105%	—	$10.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.76	−0.036%	$24.2M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	+0.044%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	+0.089%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.87	+0.056%	$48.7M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	−0.003%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.95	+0.124%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.93	+0.109%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.97	+0.138%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.73	−0.065%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.73	−0.061%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.76	−0.036%	$46.3M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.94	+0.119%	$8.6M	$37.4M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.81	+0.002%	$123K	$606K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.98	+0.147%	—	$218.8M	500x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.79	−0.009%	$8.1M	$414.2M	50x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.166%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.98	+0.149%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.94	+0.119%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDTshort	+0.0220%	8h	118.72	−0.070%	$51.6M	$89.3M	125x
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.77	−0.030%	$36.1M	$90.3M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.97	+0.138%	$3.5M	—	200x	as long as short