Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h +0.022%

Price spread now: SunX against Deribit+0.018%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.018%, 7d avg −0.037%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SunX is 0.055% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	118.85	0.0017	pay 0.0002% / 1h	50m 07s	$26.7M	$27.8M	50x
Short	SunX SOL-USDT	118.88	0.0100	get 0.0100% / 8h	2h 50m	$193K	$1.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.018%Rate

Funding earned: $17.48
Price spread: +0.018% → −0.037%: $5.52
Slippage, 4 orders: −$37.78
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$29.79
Costs to cover: 0.528%
Break-even: 18.9 days

Slippage from Deribit: live order book, 4 min ago; SunX: live order book, 6 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	1.22 bp	4.9 bp −$5	5.4 bp −$54	19.0 bp −$1,900	doesn't fit
Sell SunX live order book, 6 min ago	2.73 bp	20.6 bp −$21	31.7 bp −$317	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
Injective SOL/USDC PERP	−0.0151%	1h	118.68	−0.147%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.74	−0.098%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.79	−0.053%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.81	−0.041%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0067%	1h	118.96	+0.087%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.85	−0.006%	$49K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.91	+0.047%	$4.9M	$26.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.90	+0.036%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.90	+0.038%	$180K	$4.1M	8.3x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0017%	1h	118.85	long leg	$26.7M	$27.8M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0042%	1h	118.93	+0.060%	$1.5M	$6.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0057%	8h	118.83	−0.024%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.88	+0.022%	$104K	$153K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.74	−0.092%	$231.4M	$43.8M	75x	as long as short
Gate SOL_USDT	+0.0080%	8h	118.79	−0.054%	$858.1M	$674.9M	100x	as long as short
KuCoin SOLUSDTM	+0.0089%	8h	118.82	−0.031%	$144.3M	$197.6M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.80	−0.050%	$13.4M	$53.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.79	−0.057%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.85	−0.006%	$353K	$746K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.86	+0.006%	$1.0M	$524K	50x	as long as short
Bitget SOLUSDT	+0.0099%	8h	118.80	−0.047%	$495.9M	$451.5M	100x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.88	+0.022%	$47K	$781K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.83	−0.023%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.97	+0.097%	$717.6M	$424.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.80	−0.049%	$179.2M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.90	+0.043%	$12.4M	$113.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.79	−0.051%	$973.7M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.83	−0.020%	$820.9M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.78	−0.063%	$368.3M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	+0.005%	$233K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.92	+0.056%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.023%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.81	−0.037%	$467.0M	$1.07B	300x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.78	−0.063%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.88	+0.022%	$24.3M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	+0.001%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	+0.046%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	+0.232%	$48.7M	$33.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.86	+0.005%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.89	+0.030%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.80	−0.046%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.83	−0.022%	$37K	$15K	25x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	118.88	+0.018%	$193K	$1.9M	30x
SoDEX SOL-USD	+0.0100%	1h	118.79	−0.054%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.83	−0.020%	$46.4M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.78	−0.059%	$8.6M	$37.4M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.84	−0.010%	$8.1M	$414.5M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	118.85	−0.006%	$123K	$622K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.91	+0.043%	—	$218.7M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.123%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.89	+0.032%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.82	−0.030%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.81	−0.037%	$51.7M	$90.6M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.80	−0.042%	$36.1M	$90.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.82	−0.026%	$3.5M	—	200x	as long as short