Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h +0.025%

Price spread now: BingX against Derive+0.196%56s7-day average +0.035% · you sell dearer than you buy

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

Long on Derive Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now +0.196%, 7d avg +0.035%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BingX is 0.161% dearer against Derive than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.035%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive SOL-PERP	117.76	−0.0010	get 0.0001% / 1h	22m 26s	$1.9M	$2.8M	13x
Short	BingX SOL-USDT	117.99	0.0100	get 0.0100% / 8h	5h 22m	—	$362.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.196%Rate

Funding earned: $23.15
Price spread: +0.196% → +0.035%: $16.06
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: $23.21
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Derive: no order-book sample; BingX: live order book, 7 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 BingX live order book, 7 min ago	0.81 bp	6.2 bp −$6	6.8 bp −$68	9.2 bp −$924	13.4 bp −$6,692

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
Bluefin SOL-PERP	−0.0082%	1h	117.78	+0.018%	$25K	$28K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.87	+0.091%	$922	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	117.91	+0.123%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.86	+0.079%	$31.7M	$98.4M	100x	as long as short
Derive SOL-PERPlong	−0.0010%	1h	117.76	long leg	$1.9M	$2.8M	13x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.00	+0.201%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.94	+0.147%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.82	+0.051%	$1.4M	$19.2M	3.1x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	118.05	+0.243%	$100K	$165K	20x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	117.84	+0.065%	$105K	$695K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.85	+0.077%	$8.0M	$403.9M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.84	+0.061%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.97	+0.173%	$13.2M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.97	+0.175%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.82	+0.052%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.01	+0.209%	$66K	$839K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.06	+0.248%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.01	+0.209%	$5.8M	$38.9M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.06	+0.248%	$177.8M	$179.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.03	+0.229%	$14.6M	$128.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.01	+0.209%	$970.9M	$3.71B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.04	+0.235%	$831.7M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.01	+0.209%	$368.1M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.91	+0.124%	$238K	$856K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.03	+0.228%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.59	−0.150%	$135.8M	$17.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	118.01	+0.209%	$860.9M	$651.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.03	+0.226%	$424.0M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.04	+0.233%	$130.2M	$212.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.99	+0.192%	$488.5M	$431.3M	100x	as long as short
BingX SOL-USDTshort	+0.0100%	8h	117.99	+0.196%	—	$362.8M	—
Backpack SOL_USDC_PERP	+0.0100%	1h	117.83	+0.056%	$23.7M	$36.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.49	−0.232%	$24.3M	$115.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.54	−0.187%	$94.4M	$392.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.42	−0.294%	$48.1M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.61	−0.131%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.80	+0.031%	$1.3M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.02	+0.218%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.00	+0.198%	$201K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.83	+0.055%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.84	+0.065%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.78	+0.014%	$228.8M	$45.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.82	+0.048%	$45.9M	$100.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.00	+0.200%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.86	+0.086%	—	$215.6M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0112%	1h	117.88	+0.096%	$26.5M	$24.9M	50x	as long as short
Phoenix SOL	+0.0129%	1h	117.58	−0.156%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	118.10	+0.289%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0184%	1h	118.12	+0.303%	$722.5M	$389.4M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.98	+0.184%	$1.1M	$532K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.232%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.83	+0.056%	$51.9M	$71.6M	125x	as long as short
Perpl SOL	+0.0223%	43m	118.05	+0.240%	$128K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0171%	1h	117.82	+0.048%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0400%	1h	117.71	−0.046%	$25K	$51K	20x	as long as short