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 +0.002%

Price spread now: GRVT against Deribit+0.055%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 3 days (all we have)+0.080%+$8 · spread now +0.055%, 7d avg −0.020%

Together, before fees+0.159%+ Points / potential airdropGRVT: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GRVT is 0.074% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	119.49	0	get 0.0000% / 1h	15m 08s	$26.8M	$27.7M	50x
Short	GRVT SOL_USDT_Perp	119.56	0.0100	get 0.0100% / 8h	2h 15m	$49.0M	$33.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.055%Rate

Funding earned: $21
Price spread: +0.055% → −0.020%: $7.44
Slippage, 4 orders: −$3.82
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $8.63
Costs to cover: 0.198%
Break-even: 4.1 days

Slippage from Deribit: live order book, 4 min ago; GRVT: live order book, 4 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, 4 min ago	0.04 bp	5.1 bp −$5	5.7 bp −$57	17.1 bp −$1,712	doesn't fit
Sell GRVT live order book, 4 min ago	0.42 bp	4.9 bp −$5	5.6 bp −$56	11.5 bp −$1,149	doesn't fit

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	−0.286%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.42	−0.062%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	119.37	−0.099%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.36	−0.113%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.44	−0.040%	$5.0M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.47	−0.014%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.47	−0.017%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.44	−0.043%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUALlong	0.0000%	1h	119.49	long leg	$26.8M	$27.7M	50x
Aftermath Perps SOLUSD	+0.0029%	1h	119.59	+0.083%	$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	+0.0050%	8h	119.38	−0.092%	$232.6M	$44.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.45	−0.032%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.66	+0.144%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.46	−0.026%	$105K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.46	−0.029%	—	$374.2M	—	as long as short
Gate SOL_USDT	+0.0090%	8h	119.43	−0.051%	$871.9M	$687.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.43	−0.051%	$13.6M	$55.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.42	−0.062%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.42	−0.063%	$354K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.42	−0.064%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.44	−0.043%	$49K	$784K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.46	−0.026%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.55	+0.049%	$721.8M	$414.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.45	−0.035%	$179.8M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.47	−0.019%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.46	−0.025%	$978.0M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.51	+0.015%	$826.6M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.45	−0.035%	$371.7M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.39	−0.085%	$235K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.49	−0.005%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.139%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.45	−0.035%	$428.6M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.47	−0.017%	$141.1M	$197.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.45	−0.036%	$498.4M	$452.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.46	−0.026%	$24.3M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.47	−0.018%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.69	+0.170%	$96.1M	$402.3M	75x	as long as short
GRVT SOL_USDT_Perpshort	+0.0100%	8h	119.56	+0.055%	$49.0M	$33.3M	20x
ApeX Omni SOLUSDT	+0.0100%	1h	119.61	+0.102%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.48	−0.010%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.40	−0.077%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.45	−0.035%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.47	−0.015%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.40	−0.080%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.42	−0.060%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.45	−0.035%	$46.7M	$101.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.40	−0.076%	$8.7M	$36.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.49	−0.001%	$8.2M	$417.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.50	+0.006%	—	$221.2M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.58	+0.074%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.47	−0.020%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.46	−0.030%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.38	−0.093%	$1.1M	$560K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.41	−0.068%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.45	−0.035%	$35.6M	$91.2M	100x	as long as short