Funding you earn now, next payment 02:00 UTC+0.0122%/8h= +13.3% APRnext payment +$0.15 per $10,000 · paid last 24h +0.040%
Price spread now: Backpack against Derive+0.138%7-day average +0.037% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.067%+$7 on $10k
+Price spread, last 3 days (all we have)−0.094%−$9 · spread now +0.138%, 7d avg +0.037%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.100% dearer against Derive than usual: you sell high and buy low: +$10 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 | Derive SOL-PERP | 117.86 | −0.0022 | get 0.0003% / 1h | 52m 28s | $2.0M | $2.7M | 13x |
| Short | Backpack SOL_USDC_PERP | 118.02 | 0.0100 | get 0.0013% / 1h | 52m 28s | $23.8M | $36.9M | 50x |
Derive SOL-PERP
Backpack SOL_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Derive. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $25.53
- Price spread: +0.138% → +0.037%
- $10.05
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $19.58
- Costs to cover
- 0.160%
- Break-even
- 1.6 days
Slippage unknown: Derive: no order-book sample; Backpack: live order book, 2 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 Derive no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 2 min ago | 0.42 bp | 5.8 bp −$6 | 6.2 bp −$62 | 8.0 bp −$799 | doesn't fit |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni SOLUSDT | −0.1080% | 1h | 118.05 | +0.161% | $1.5M | $6.1M | 50x | as long as short |
| Hibachi SOL/USDT-P | −0.0088% | 1h | 117.92 | +0.056% | $92K | $705K | 20x | as long as short |
| Hotstuff SOL-PERP | −0.0080% | 1h | 118.07 | +0.177% | $923 | $8K | 25x | as long as short |
| Vest SOL-PERP | −0.0078% | 1h | 117.94 | +0.073% | — | $610K | 20x | as long as short |
| HTX SOL-USDT | −0.0072% | 8h | 117.87 | +0.014% | $229.2M | $44.9M | 75x | as long as short |
| Derive SOL-PERPlong | −0.0022% | 1h | 117.86 | long leg | $2.0M | $2.7M | 13x | |
| Gate SOL_USDT | −0.0020% | 8h | 117.99 | +0.112% | $851.8M | $649.7M | 100x | as long as short |
| gTrade (Gains Network) SOL/USD | L 0.0000% / S +0.0004% | 1h | 117.93 | +0.061% | $53K | — | 150x | as long as short |
| dYdX SOL-USD | 0.0000% | 1h | 118.07 | +0.181% | $4.5M | $25.9M | 20x | as long as short |
| Kalshi KXSOLPERP | 0.0000% | 8h | 117.76 | −0.083% | $1.5M | $21.4M | 3.1x | as long as short |
ApeX Omni SOLUSDT
Hibachi SOL/USDT-P
Hotstuff SOL-PERP
Vest SOL-PERP
HTX SOL-USDT
Gate SOL_USDT
gTrade (Gains Network) SOL/USD
dYdX SOL-USD
Kalshi KXSOLPERPShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl SOL | 0.0000% | 43m | 118.09 | +0.201% | $131K | $4.0M | 8.3x | as long as short |
| RISEx SOL/USDC | +0.0018% | 1h | 118.04 | +0.157% | $1.8M | $4.6M | 20x | as long as short |
| Kraken Futures PF_SOLUSD | +0.0049% | 1h | 117.94 | +0.068% | $31.5M | $98.6M | 100x | as long as short |
| 01 Exchange SOLUSD | +0.0072% | 1h | 118.12 | +0.223% | $103K | $162K | 20x | as long as short |
| Coinbase International SOL-PERP-INTX | +0.0072% | 1h | 117.98 | +0.107% | $7.9M | $410.6M | 50x | as long as short |
| BingX SOL-USDT | +0.0080% | 8h | 118.04 | +0.155% | — | $369.4M | — | as long as short |
| Orderly PERP_SOL_USDC | +0.0083% | 8h | 117.96 | +0.083% | $1.1M | $5.9M | 100x | as long as short |
| Deribit SOL_USDC-PERPETUAL | +0.0093% | 1h | 117.99 | +0.111% | $26.4M | $25.3M | 50x | as long as short |
| Lighter SOL | +0.0096% | 1h | 118.00 | +0.122% | $13.5M | $58.1M | 25x | as long as short |
| Lighter RH SOL | +0.0096% | 1h | 117.99 | +0.110% | $2.2M | $16.6M | 25x | as long as short |
| Aevo SOL-PERP | +0.0096% | 1h | 117.92 | +0.051% | $346K | $262K | 20x | as long as short |
| Paradex SOL-USD-PERP | +0.0099% | 8h | 118.04 | +0.157% | $1.0M | $520K | 50x | as long as short |
| Katana Perps SOL-USD | +0.0100% | 8h | 118.04 | +0.155% | $45K | $819K | 20x | as long as short |
| Nado SOL-PERP | +0.0100% | 1h | 118.03 | +0.142% | $5.7M | $41.4M | 40x | as long as short |
| Aster SOLUSDT | +0.0100% | 8h | 118.05 | +0.159% | $177.5M | $180.9M | 100x | as long as short |
| Pacifica SOL | +0.0100% | 1h | 118.05 | +0.161% | $12.9M | $128.1M | 20x | as long as short |
| Binance SOLUSDT | +0.0100% | 8h | 118.10 | +0.206% | $977.6M | $3.81B | 100x | as long as short |
| Bybit SOLUSDT | +0.0100% | 8h | 118.10 | +0.206% | $821.8M | $1.29B | 100x | as long as short |
| OKX SOL-USDT-SWAP | +0.0100% | 8h | 118.02 | +0.138% | $366.8M | $1.68B | 100x | as long as short |
| Ondo Perps SOL-USD.P | +0.0100% | 1h | 118.10 | +0.206% | $255K | $909K | 10x | as long as short |
| Arcus SOL-USD | +0.0100% | 1h | 118.08 | +0.187% | $2.0M | $8.9M | 20x | as long as short |
| Bulk SOL-USD | +0.0100% | 1h | 118.15 | +0.248% | $136.0M | $13.0M | 20x | as long as short |
| MEXC SOL_USDT | +0.0100% | 8h | 118.07 | +0.180% | $423.0M | $1.10B | 300x | as long as short |
| KuCoin SOLUSDTM | +0.0100% | 8h | 118.05 | +0.161% | $133.7M | $207.5M | 75x | as long as short |
| Bitget SOLUSDT | +0.0100% | 8h | 118.00 | +0.122% | $489.8M | $445.6M | 100x | as long as short |
| Backpack SOL_USDC_PERPshort | +0.0100% | 1h | 118.02 | +0.138% | $23.8M | $36.9M | 50x | |
| Variational Omni SOL | +0.0100% | 8h | 117.61 | −0.213% | $24.4M | $130.2M | — | as long as short |
| edgeX SOLUSDC | +0.0100% | 4h | 118.09 | +0.198% | $94.9M | $399.6M | 75x | as long as short |
| GRVT SOL_USDT_Perp | +0.0100% | 8h | 117.64 | −0.187% | $48.2M | $29.6M | 20x | as long as short |
| StandX SOL-USD | +0.0100% | 1h | 117.86 | +0.002% | $1.3M | $13.4M | 30x | as long as short |
| Polymarket Perps SOL-USD | +0.0100% | 1h | 118.04 | +0.155% | $353K | $2.3M | 20x | as long as short |
| Bullet SOL-USD | +0.0100% | 1h | 117.93 | +0.063% | $201K | $1.7M | 20x | as long as short |
| Bluefin SOL-PERP | +0.0100% | 1h | 117.92 | +0.049% | $37K | $17K | 25x | as long as short |
| SunX SOL-USDT | +0.0100% | 8h | 117.93 | +0.064% | $192K | $1.8M | 30x | as long as short |
| SoDEX SOL-USD | +0.0100% | 1h | 117.94 | +0.070% | $6.2M | $10.8M | 20x | as long as short |
| Phemex SOLUSDT | +0.0100% | 8h | 117.96 | +0.087% | $46.0M | $100.8M | 50x | as long as short |
| Phoenix SOL | +0.0101% | 1h | 117.72 | −0.117% | $6.5M | $13.5M | 25x | as long as short |
| Extended SOL-USD | +0.0104% | 1h | 118.04 | +0.159% | $8.3M | $35.7M | 50x | as long as short |
| Hyperliquid SOL | +0.0109% | 1h | 118.14 | +0.239% | $718.1M | $401.0M | 20x | as long as short |
| Jupiter Perps SOL-PERP | L +0.0112% / S +0.0056% | 1h | 117.74 | −0.101% | — | $228.6M | 500x | as long as short |
| Reya SOLRUSDPERP | +0.0187% | 1h | 118.00 | +0.123% | $1.1M | $524K | 25x | as long as short |
| BloFin SOL-USDT | +0.0220% | 8h | 117.98 | +0.104% | $52.3M | $74.2M | 125x | as long as short |
| Injective SOL/USDC PERP | +0.0222% | 1h | 119.50 | +1.393% | $4K | $2K | 12x | as long as short |
| GMX SOL/USD [SOL-USDC] | L +0.0233% / S −0.0167% | 1h | 117.92 | +0.053% | $3.7M | — | 200x | as long as short |
| Aftermath Perps SOLUSD | +0.0290% | 1h | 118.04 | +0.158% | $25K | $51K | 20x | as long as short |
Perpl SOL
RISEx SOL/USDC
Kraken Futures PF_SOLUSD
01 Exchange SOLUSD
Coinbase International SOL-PERP-INTX
BingX SOL-USDT
Orderly PERP_SOL_USDC
Deribit SOL_USDC-PERPETUAL
Lighter SOL
Lighter RH SOL
Aevo SOL-PERP
Paradex SOL-USD-PERP
Katana Perps SOL-USD
Nado SOL-PERP
Aster SOLUSDT
Pacifica SOL
Binance SOLUSDT
Bybit SOLUSDT
OKX SOL-USDT-SWAP
Ondo Perps SOL-USD.P
Arcus SOL-USD
Bulk SOL-USD
MEXC SOL_USDT
KuCoin SOLUSDTM
Bitget SOLUSDT
Variational Omni SOL
edgeX SOLUSDC
GRVT SOL_USDT_Perp
StandX SOL-USD
Polymarket Perps SOL-USD
Bullet SOL-USD
Bluefin SOL-PERP
SunX SOL-USDT
SoDEX SOL-USD
Phemex SOLUSDT
Phoenix SOL
Extended SOL-USD
Hyperliquid SOL
Jupiter Perps SOL-PERP
Reya SOLRUSDPERP
BloFin SOL-USDT
Injective SOL/USDC PERP
GMX SOL/USD [SOL-USDC]
Aftermath Perps SOLUSD