Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0059%/8h= +6.5% APRpaid last 24h +0.015%

Price spread now: OKX against Deribit−0.071%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)+0.408%+$41 · spread now −0.071%, 7d avg −0.036%

Together, before fees+0.461%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.035% cheaper against Deribit than usual: you would sell low and buy high (spread −0.071% now, against its 7-day average of −0.036%). If the spread goes back, that is −$3 on $10k: about 47 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.053% in total) that is about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	117.96	0.0041	pay 0.0005% / 1h	15m 12s	$26.5M	$24.9M	50x
Short	OKX SOL-USDT-SWAP	117.88	0.0100	get 0.0100% / 8h	5h 15m	$366.8M	$1.64B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.071%Rate

Funding earned: $12.42
Price spread: −0.071% → −0.036%: −$3.49
Slippage, 4 orders: −$3.57
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$11.64
Costs to cover: 0.206%
Break-even: 13.6 days

Slippage from Deribit: live order book, 4 min ago; OKX: 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	0.30 bp	5.2 bp −$5	5.9 bp −$59	15.0 bp −$1,497	doesn't fit
Sell OKX live order book, 4 min ago	0.42 bp	5.4 bp −$5	5.4 bp −$54	9.5 bp −$953	20.9 bp −$10.4K

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
Bluefin SOL-PERP	−0.0116%	1h	117.90	−0.053%	$25K	$28K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.03	+0.054%	$923	$8K	25x	as long as short
Vest SOL-PERP	−0.0067%	1h	117.87	−0.076%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.93	−0.030%	$31.6M	$98.8M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.84	−0.102%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.91	−0.045%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.94	−0.020%	$4.5M	$24.1M	20x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0041%	1h	117.96	long leg	$26.5M	$24.9M	50x
Hibachi SOL/USDT-P	+0.0048%	1h	118.05	+0.073%	$105K	$696K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.94	−0.020%	$100K	$165K	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	+0.0064%	1h	117.94	−0.021%	$7.9M	$404.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.93	−0.027%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.92	−0.040%	$13.2M	$59.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.91	−0.048%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.90	−0.053%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.94	−0.020%	$54K	$852K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.95	−0.011%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.89	−0.058%	$5.8M	$38.8M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.90	−0.050%	$177.6M	$180.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.96	−0.001%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.91	−0.049%	$971.4M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.94	−0.024%	$832.5M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAPshort	+0.0100%	8h	117.88	−0.071%	$366.8M	$1.64B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	117.93	−0.028%	$239K	$857K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.95	−0.015%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.59	−0.319%	$135.8M	$17.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.90	−0.054%	$859.9M	$653.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.91	−0.045%	$426.6M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.92	−0.033%	$130.2M	$212.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.86	−0.088%	$488.4M	$431.2M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.88	−0.067%	—	$363.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.89	−0.062%	$23.7M	$36.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.04	+0.067%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.86	−0.087%	$94.7M	$394.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.96	−0.003%	$48.3M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.83	−0.113%	$1.7M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.98	+0.014%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.90	−0.054%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.91	−0.043%	$199K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.90	−0.054%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.92	−0.037%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.91	−0.046%	$229.0M	$45.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.94	−0.020%	$46.0M	$100.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0102%	8h	117.99	+0.024%	$1.4M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.89	−0.063%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	118.01	+0.044%	—	$215.6M	500x	as long as short
Phoenix SOL	+0.0129%	1h	118.03	+0.057%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.99	+0.027%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0174%	1h	118.03	+0.057%	$722.1M	$389.9M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.87	−0.075%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.401%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.90	−0.054%	$51.9M	$71.7M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.96	−0.004%	$128K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0171%	1h	117.91	−0.044%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0408%	1h	117.94	−0.021%	$25K	$51K	20x	as long as short