Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h +0.013%

Price spread now: HTX against Deribit−0.100%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.100%, 7d avg −0.032%

Together, before fees+0.159%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.069% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.032%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.090%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	116.75	0.0138	pay 0.0017% / 1h	22m 36s	$26.2M	$21.2M	50x
Short	HTX SOL-USDT	116.63	0.0100	get 0.0100% / 8h	7h 22m	$225.8M	$50.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$8.01
Price spread: −0.100% → −0.032%: −$6.86
Slippage, 4 orders: −$3.3
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$37.18
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; HTX: live order book, 2 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, 2 min ago	0.21 bp	4.7 bp −$5	5.7 bp −$57	15.4 bp −$1,539	doesn't fit
Sell HTX live order book, 2 min ago	0.00 bp	6.7 bp −$7	10.3 bp −$103	18.4 bp −$1,839	42.4 bp −$21.2K

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
Hotstuff SOL-PERP	−0.0080%	1h	116.53	−0.185%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	115.82	−0.793%	$1.8M	$2.9M	13x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.74	−0.011%	$32.4M	$103.8M	100x	as long as short
Bybit SOLUSDT	−0.0029%	8h	116.69	−0.050%	$730.1M	$1.37B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.64	−0.095%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.66	−0.076%	$1.4M	$19.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.64	−0.092%	$100K	$3.2M	8.3x	as long as short
Vest SOL-PERP	+0.0004%	1h	116.50	−0.217%	—	$640K	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.71	−0.036%	$481.9M	$438.9M	100x	as long as short
dYdX SOL-USD	+0.0039%	1h	116.76	+0.008%	$7.6M	$24.4M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.72	−0.022%	$7.8M	$389.8M	50x	as long as short
Aster SOLUSDT	+0.0052%	8h	116.72	−0.023%	$177.1M	$168.9M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	116.66	−0.078%	$1.0M	$5.7M	100x	as long as short
Phemex SOLUSDT	+0.0069%	8h	116.65	−0.086%	$45.3M	$102.9M	50x	as long as short
Gate SOL_USDT	+0.0079%	8h	116.73	−0.018%	$845.0M	$617.5M	100x	as long as short
SoDEX SOL-USD	+0.0087%	1h	116.69	−0.052%	$6.0M	$11.1M	20x	as long as short
Lighter SOL	+0.0096%	1h	116.73	−0.016%	$13.2M	$56.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.71	−0.035%	$2.2M	$14.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.64	−0.099%	$352K	$240K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	116.73	−0.015%	$1.0M	$553K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.70	−0.044%	$59K	$897K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.53	−0.193%	$5.4M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.80	+0.042%	$701.4M	$387.3M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.77	+0.016%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.73	−0.021%	$962.6M	$3.79B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.74	−0.009%	$366.3M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.67	−0.069%	$217K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.75	0.000%	$943K	$8.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.72	−0.026%	$410.2M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	−0.010%	$130.2M	$236.8M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.72	−0.030%	—	$368.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.67	−0.069%	$22.9M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.98	−0.658%	$24.7M	$104.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.15	−0.519%	$93.3M	$405.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.18	−0.486%	$47.6M	$27.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.01	−0.638%	$1.1M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.31	−0.378%	$1.3M	$10.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.60	−0.129%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.66	−0.081%	$283K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.51	−0.204%	$189K	$1.7M	30x	as long as short
HTX SOL-USDTshort	+0.0100%	8h	116.63	−0.100%	$225.8M	$50.2M	75x
Bulk SOL-USD	+0.0100%	1h	115.76	−0.852%	$125.0M	$25.2M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.70	−0.045%	$8.1M	$35.5M	50x	as long as short
01 Exchange SOLUSD	+0.0104%	1h	116.57	−0.155%	$100K	$185K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.55	−0.168%	—	$227.4M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.08	−0.575%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0138%	1h	116.75	long leg	$26.2M	$21.2M	50x
Hibachi SOL/USDT-P	+0.0144%	1h	116.40	−0.297%	$104K	$677K	20x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.352%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.58	−0.145%	$1.1M	$543K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.66	−0.078%	$52.3M	$62.3M	125x	as long as short
Bluefin SOL-PERP	+0.0229%	1h	116.64	−0.092%	$27K	$36K	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.66	−0.080%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0403%	1h	116.24	−0.437%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.77	+0.020%	$2.2M	$4.8M	20x	as long as short