Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.022%

Price spread now: Variational Omni against Deribit−0.128%7-day average −0.019% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.074%+$7 on $10k

Price spread, last 3 days (all we have)+0.170%+$17 · spread now −0.128%, 7d avg −0.019%

Together, before fees+0.245%+ Points / potential airdropVariational Omni: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.109% cheaper against Deribit than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.019%). If the spread goes back, that is −$11 on $10k: about 3.6 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	119.62	0	get 0.0000% / 1h	13m 39s	$26.8M	$27.7M	50x
Short	Variational Omni SOL	119.47	0.0100	get 0.0100% / 8h	2h 13m	$27.4M	$127.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.128%Rate

Funding earned: $21
Price spread: −0.128% → −0.019%: −$10.9
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.1
Costs to cover: 0.070%
Break-even: 6.0 days

Slippage unknown: Deribit: live order book, just now; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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, just now	0.63 bp	5.7 bp −$6	6.4 bp −$64	22.3 bp −$2,232	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	1.17 bp	doesn't fit	2.6 bp −$26	10.5 bp −$1,047	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	119.15	−0.395%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.49	−0.111%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	119.46	−0.140%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.48	−0.118%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.50	−0.101%	$5.0M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.58	−0.040%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.54	−0.066%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.57	−0.048%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUALlong	0.0000%	1h	119.62	long leg	$26.8M	$27.7M	50x
Aftermath Perps SOLUSD	+0.0033%	1h	119.58	−0.036%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0051%	8h	119.52	−0.084%	$232.8M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.58	−0.034%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.46	−0.137%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.50	−0.103%	$105K	$152K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.45	−0.141%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.42	−0.170%	$871.7M	$688.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.43	−0.161%	$13.6M	$55.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.42	−0.165%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.55	−0.058%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.41	−0.181%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.40	−0.186%	$49K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.49	−0.110%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.55	−0.061%	$721.7M	$414.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.49	−0.110%	$179.9M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.47	−0.129%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.42	−0.170%	$977.7M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.44	−0.150%	$826.0M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.42	−0.170%	$372.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.39	−0.195%	$235K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.49	−0.109%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.029%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.42	−0.170%	$428.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.44	−0.153%	$140.9M	$197.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.42	−0.166%	$498.4M	$452.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.57	−0.044%	$24.3M	$38.1M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	119.47	−0.128%	$27.4M	$127.6M	—
edgeX SOLUSDC	+0.0100%	4h	119.69	+0.060%	$96.1M	$402.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.56	−0.055%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.61	−0.008%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.42	−0.170%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.52	−0.086%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.56	−0.051%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.54	−0.068%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.46	−0.140%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.56	−0.053%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.57	−0.044%	$46.7M	$101.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.41	−0.177%	$8.7M	$36.7M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.61	−0.011%	$8.2M	$417.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.46	−0.138%	—	$221.4M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.58	−0.036%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.57	−0.045%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.41	−0.174%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.55	−0.057%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.41	−0.178%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0222%	1h	119.59	−0.027%	$35.6M	$91.2M	100x	as long as short