Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h +0.035%

Price spread now: Binance against Derive+0.120%7-day average +0.042% · you sell dearer than you buy

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

Long on Derive Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.120%, 7d avg +0.042%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Binance is 0.077% dearer against Derive than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive SOL-PERP	116.64	−0.0060	get 0.0008% / 1h	31m 58s	$1.9M	$2.8M	13x
Short	Binance SOLUSDT	116.78	0.0100	get 0.0100% / 8h	4h 31m	$966.9M	$3.79B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Derive. 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 DerivebpFee BinancebpOrdersPrice spread, now +0.120%Rate

Funding earned: $33.62
Price spread: +0.120% → +0.042%: $7.74
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: $25.36
Costs to cover: 0.160%
Break-even: 1.7 days

Slippage unknown: Derive: no order-book sample; Binance: live order book, 12 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 Binance live order book, 12 min ago	0.43 bp	5.4 bp −$5	5.7 bp −$57	10.1 bp −$1,009	19.1 bp −$9,561

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
Hibachi SOL/USDT-P	−0.0096%	1h	116.63	−0.009%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0096%	1h	116.62	−0.017%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.71	+0.059%	$913	$8K	25x	as long as short
Derive SOL-PERPlong	−0.0060%	1h	116.64	long leg	$1.9M	$2.8M	13x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.71	+0.060%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.74	+0.084%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.66	+0.017%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.72	+0.068%	$99K	$171K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.73	+0.077%	$7.5M	$405.2M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.71	+0.063%	$31.1M	$100.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0091%	8h	116.73	+0.076%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.72	+0.068%	$13.1M	$59.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.70	+0.056%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.71	+0.056%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.63	−0.009%	$51K	$867K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.69	+0.043%	$988K	$534K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.68	+0.037%	$5.4M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.78	+0.120%	$705.4M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.73	+0.078%	$174.9M	$182.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	+0.075%	$15.7M	$130.4M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	116.78	+0.120%	$966.9M	$3.79B	100x
Bybit SOLUSDT	+0.0100%	8h	116.76	+0.103%	$786.5M	$1.34B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.82	+0.154%	$369.5M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.58	−0.052%	$230K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.74	+0.084%	$929K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.163%	$133.2M	$20.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.73	+0.077%	$842.9M	$659.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.77	+0.111%	$417.7M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.73	+0.075%	$126.5M	$218.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.73	+0.074%	$479.9M	$441.6M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.74	+0.085%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.70	+0.051%	$23.5M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.25	−0.330%	$24.4M	$114.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.43	−0.183%	$93.5M	$398.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.45	−0.167%	$47.6M	$29.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.53	−0.094%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.43	−0.180%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.69	+0.043%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.69	+0.043%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.66	+0.020%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.68	+0.035%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.71	+0.060%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.62	−0.017%	$226.3M	$47.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.70	+0.051%	$45.7M	$101.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.71	+0.060%	$8.1M	$36.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.70	+0.056%	—	$230.2M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	−0.069%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.63	−0.009%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0160%	1h	116.77	+0.114%	$26.3M	$25.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.66	+0.020%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.66	+0.017%	$51.7M	$72.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0171%	1h	116.70	+0.054%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.70	+0.054%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0533%	1h	116.61	−0.025%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.77	+0.113%	$1.9M	$4.9M	20x	as long as short