Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h +0.021%

Price spread now: KuCoin against Deribit−0.098%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 3 days (all we have)+0.227%+$23 · spread now −0.098%, 7d avg −0.011%

Together, before fees+0.267%+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.086% cheaper against Deribit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	119.86	0.0102	pay 0.0013% / 1h	53m 50s	$26.8M	$26.1M	50x
Short	KuCoin SOLUSDTM	119.75	0.0100	get 0.0100% / 8h	53m 50s	$140.1M	$203.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$0.46
Price spread: −0.098% → −0.011%: −$8.64
Slippage, 4 orders: −$7.64
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$35.74
Costs to cover: 0.266%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; KuCoin: live order book, 5 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, 5 min ago	0.04 bp	5.7 bp −$6	6.1 bp −$61	16.3 bp −$1,634	doesn't fit
Sell KuCoin live order book, 5 min ago	0.71 bp	7.8 bp −$8	9.6 bp −$96	14.9 bp −$1,490	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
Hotstuff SOL-PERP	−0.0080%	1h	119.78	−0.066%	$849	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.72	−0.122%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.72	−0.120%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.80	−0.054%	$116K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.78	−0.072%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.83	−0.025%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.79	−0.059%	$178K	$4.0M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0053%	1h	119.48	−0.319%	$1.5M	$6.2M	50x	as long as short
Phoenix SOL	+0.0054%	1h	119.58	−0.236%	$6.6M	$13.7M	25x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.83	−0.027%	$105K	$157K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0071%	8h	119.81	−0.043%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.73	−0.110%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0086%	8h	119.75	−0.091%	$233.1M	$45.1M	75x	as long as short
Gate SOL_USDT	+0.0088%	8h	119.74	−0.102%	$873.5M	$673.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.80	−0.055%	$13.7M	$55.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.78	−0.072%	$2.2M	$16.9M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	119.78	−0.072%	$129K	$629K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.80	−0.050%	$355K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.81	−0.040%	$8.3M	$419.2M	50x	as long as short
Aftermath Perps SOLUSD	+0.0099%	1h	119.51	−0.298%	$24K	$47K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.76	−0.088%	$1.1M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.77	−0.077%	$46K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.76	−0.085%	$6.1M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.86	−0.002%	$725.2M	$409.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.76	−0.083%	$179.3M	$175.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.80	−0.050%	$12.4M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.77	−0.080%	$986.9M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.79	−0.062%	$833.1M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.75	−0.094%	$373.8M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.68	−0.152%	$234K	$875K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.82	−0.038%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.35	−0.427%	$133.8M	$7.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.72	−0.119%	$457.4M	$1.11B	300x	as long as short
KuCoin SOLUSDTMshort	+0.0100%	8h	119.75	−0.098%	$140.1M	$203.3M	75x
Bitget SOLUSDT	+0.0100%	8h	119.75	−0.090%	$498.6M	$456.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.80	−0.052%	$24.3M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.52	−0.287%	$27.4M	$128.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.46	−0.340%	$95.9M	$400.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.51	−0.295%	$49.0M	$31.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.77	−0.077%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.78	−0.069%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.79	−0.060%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.79	−0.064%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.79	−0.057%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.79	−0.060%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.78	−0.069%	$46.8M	$102.4M	50x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0102%	1h	119.86	long leg	$26.8M	$26.1M	50x
Extended SOL-USD	+0.0104%	1h	119.70	−0.133%	$8.7M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0104%	1h	119.82	−0.032%	$32.7M	$97.0M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.80	−0.048%	—	$224.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.02	−0.703%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.78	−0.068%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.74	−0.102%	$52.1M	$84.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.85	−0.012%	$1.7M	$5.3M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0170%	1h	119.80	−0.052%	$3.6M	—	200x	as long as short