Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.019%

Price spread now: Paradex against Deribit−0.035%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$170.165% of the position

Long on Deribit Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.212%+$21 · spread now −0.035%, 7d avg −0.016%

Together, before fees+0.292%+ Points / potential airdropParadex: Active · farm board+$29 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: −$2 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.080%, 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	119.57	0.0151	pay 0.0019% / 1h	42m 55s	$26.8M	$27.6M	50x
Short	Paradex SOL-USD-PERP	119.53	0.0099	get 0.0099% / 8h	1h 42m	$1.0M	$523K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$10.78
Price spread: −0.035% → −0.016%: −$1.9
Slippage, 4 orders: −$5.52
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$29.2
Costs to cover: 0.165%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Paradex: live order book, 1 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, 1 min ago	0.04 bp	5.1 bp −$5	5.5 bp −$55	15.8 bp −$1,578	doesn't fit
Sell Paradex live order book, 1 min ago	1.80 bp	3.8 bp −$4	9.6 bp −$96	doesn't fit	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
Bluefin SOL-PERP	−0.0525%	1h	119.49	−0.061%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0095%	1h	119.41	−0.131%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.56	−0.006%	$848	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.46	−0.092%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0002%	1h	119.51	−0.050%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.50	−0.060%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.58	+0.011%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.55	−0.016%	$182K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0008%	1h	119.50	−0.054%	$120K	$610K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.50	−0.056%	$6.6M	$13.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SOLUSD	+0.0063%	1h	119.39	−0.149%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	119.51	−0.044%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0073%	8h	119.46	−0.090%	$232.7M	$44.5M	75x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.71	+0.118%	—	$373.9M	—	as long as short
01 Exchange SOLUSD	+0.0088%	1h	119.59	+0.020%	$104K	$154K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.51	−0.047%	$13.6M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.50	−0.054%	$2.1M	$16.7M	25x	as long as short
Gate SOL_USDT	+0.0096%	8h	119.68	+0.095%	$872.8M	$678.6M	100x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.47	−0.077%	$354K	$748K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0099%	8h	119.53	−0.035%	$1.0M	$523K	50x
Katana Perps SOL-USD	+0.0100%	8h	119.51	−0.047%	$46K	$789K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.50	−0.056%	$6.2M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.67	+0.087%	$722.2M	$414.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.64	+0.065%	$179.1M	$175.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.56	−0.005%	$12.4M	$116.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.70	+0.112%	$986.5M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.72	+0.131%	$827.8M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.69	+0.103%	$373.0M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.50	−0.056%	$234K	$887K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.60	+0.027%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.15	−0.347%	$133.6M	$9.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.71	+0.120%	$476.5M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.70	+0.115%	$141.2M	$199.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.69	+0.107%	$496.7M	$454.9M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.57	+0.003%	$24.2M	$38.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.38	−0.153%	$27.7M	$127.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.46	−0.091%	$95.9M	$398.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.44	−0.107%	$48.9M	$32.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.49	−0.063%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.48	−0.072%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.53	−0.030%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.47	−0.077%	$200K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.49	−0.065%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.50	−0.056%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.54	−0.022%	$46.7M	$101.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.68	+0.093%	$8.7M	$36.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.56	−0.009%	$8.2M	$415.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.51	−0.050%	—	$221.8M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.51	−0.044%	$32.7M	$95.0M	100x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0151%	1h	119.57	long leg	$26.8M	$27.6M	50x
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.49	−0.067%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.51	−0.050%	$1.1M	$558K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.59	+0.021%	$1.7M	$5.9M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.365%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.52	−0.039%	$52.1M	$82.5M	125x	as long as short