Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.023%

Price spread now: Bybit against Deribit−0.010%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 3 days (all we have)+0.382%+$38 · spread now −0.010%, 7d avg −0.016%

Together, before fees+0.418%+$42 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	119.21	0.0080	pay 0.0010% / 1h	0m 51s	$26.7M	$27.9M	50x
Short	Bybit SOLUSDT	119.20	0.0100	get 0.0100% / 8h	3h 00m	$823.5M	$1.27B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.010%Rate

Funding earned: $4.25
Price spread: −0.010% → −0.016%: $0.6
Slippage, 4 orders: −$4.59
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$17.74
Costs to cover: 0.226%
Break-even: 36.2 days

Slippage from Deribit: live order book, 3 min ago; Bybit: 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	0.46 bp	4.4 bp −$4	5.8 bp −$58	20.3 bp −$2,031	doesn't fit
Sell Bybit live order book, 3 min ago	0.42 bp	5.9 bp −$6	6.5 bp −$65	10.2 bp −$1,017	19.9 bp −$9,959

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
Vest SOL-PERP	−0.0084%	1h	119.12	−0.079%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.09	−0.103%	$844	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0069%	1h	119.01	−0.169%	$24K	$48K	20x	as long as short
Derive SOL-PERP	−0.0065%	1h	119.10	−0.095%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0010%	1h	119.29	+0.067%	$4.9M	$26.8M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.20	−0.011%	$50K	—	150x	as long as short
Perpl SOL	0.0000%	43m	119.20	−0.011%	$192K	$4.1M	8.3x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	119.22	+0.007%	$104K	$154K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0055%	8h	119.18	−0.027%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0062%	8h	119.14	−0.064%	$232.1M	$43.8M	75x	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	+0.0076%	1h	119.13	−0.069%	$1.5M	$6.3M	50x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0080%	1h	119.21	long leg	$26.7M	$27.9M	50x
Gate SOL_USDT	+0.0080%	8h	119.12	−0.077%	$859.9M	$686.0M	100x	as long as short
KuCoin SOLUSDTM	+0.0082%	8h	119.14	−0.058%	$144.4M	$196.3M	75x	as long as short
Lighter SOL	+0.0096%	1h	119.15	−0.049%	$13.5M	$53.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.15	−0.052%	$2.0M	$17.2M	25x	as long as short
Bitget SOLUSDT	+0.0096%	8h	119.15	−0.052%	$497.2M	$452.0M	100x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.14	−0.056%	$354K	$749K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	119.27	+0.048%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.19	−0.018%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.26	+0.045%	$5.6M	$40.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.25	+0.032%	$719.4M	$442.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.15	−0.056%	$180.2M	$175.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.32	+0.087%	$12.4M	$112.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.15	−0.053%	$978.8M	$3.76B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	119.20	−0.010%	$823.5M	$1.27B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	119.15	−0.052%	$368.4M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.16	−0.043%	$234K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.29	+0.065%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.09	−0.104%	$133.4M	$13.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.13	−0.068%	$469.0M	$1.08B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	119.17	−0.037%	—	$369.9M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.16	−0.043%	$24.2M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.03	−0.154%	$27.7M	$126.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.09	−0.106%	$95.6M	$395.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.08	−0.114%	$48.7M	$33.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.10	−0.094%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.18	−0.027%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.15	−0.048%	$200K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.18	−0.027%	$38K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.14	−0.058%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.13	−0.068%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.14	−0.060%	$46.5M	$100.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.13	−0.071%	$8.7M	$37.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	119.19	−0.018%	$8.1M	$415.1M	50x	as long as short
Kalshi KXSOLPERP	+0.0107%	8h	119.23	+0.015%	$1.2M	$21.0M	3.1x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.24	+0.022%	—	$218.4M	500x	as long as short
Hibachi SOL/USDT-P	+0.0128%	1h	119.17	−0.034%	$123K	$607K	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0131%	1h	119.15	−0.055%	$36.2M	$90.6M	100x	as long as short
Phoenix SOL	+0.0149%	1h	119.28	+0.057%	$7.3M	$11.3M	25x	as long as short
RISEx SOL/USDC	+0.0160%	1h	119.22	+0.007%	$1.6M	$6.3M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.16	−0.044%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.13	−0.068%	$51.8M	$90.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0179%	1h	119.19	−0.019%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0533%	1h	118.68	−0.446%	$4K	$2K	12x	as long as short