Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.036%

Price spread now: KuCoin against Derive+0.167%7-day average +0.043% · you sell dearer than you buy

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

Long on Derive Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now +0.167%, 7d avg +0.043%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and KuCoin is 0.124% dearer against Derive than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.043%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.047% in total (about -2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive SOL-PERP	118.65	−0.0104	get 0.0013% / 1h	43m 44s	$2.0M	$3.2M	13x
Short	KuCoin SOLUSDTM	118.85	0.0094	get 0.0094% / 8h	2h 43m	$143.7M	$196.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.167%Rate

Funding earned: $41.65
Price spread: +0.167% → +0.043%: $12.36
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $36.01
Costs to cover: 0.180%
Break-even: 0.9 days

Slippage unknown: Derive: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	0.04 bp	7.4 bp −$7	9.9 bp −$99	15.1 bp −$1,506	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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	+0.200%	$4K	$2K	12x	as long as short
Derive SOL-PERPlong	−0.0104%	1h	118.65	long leg	$2.0M	$3.2M	13x
Hotstuff SOL-PERP	−0.0080%	1h	118.64	−0.011%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.68	+0.023%	—	$724K	20x	as long as short
Aftermath Perps SOLUSD	−0.0046%	1h	118.86	+0.172%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.76	+0.087%	$48K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.72	+0.059%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.69	+0.029%	$179K	$4.0M	8.3x	as long as short
dYdX SOL-USD	0.0000%	1h	118.87	+0.179%	$4.9M	$26.8M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0053%	1h	118.78	+0.106%	$26.6M	$27.7M	50x	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	+0.0059%	8h	118.74	+0.072%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.75	+0.082%	$104K	$153K	20x	as long as short
HTX SOL-USDT	+0.0072%	8h	118.65	−0.007%	$231.2M	$43.6M	75x	as long as short
ApeX Omni SOLUSDT	+0.0074%	1h	118.90	+0.208%	$1.5M	$6.2M	50x	as long as short
Gate SOL_USDT	+0.0084%	8h	118.83	+0.149%	$858.4M	$677.1M	100x	as long as short
KuCoin SOLUSDTMshort	+0.0094%	8h	118.85	+0.167%	$143.7M	$196.5M	75x
Lighter SOL	+0.0096%	1h	118.83	+0.148%	$13.4M	$53.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.82	+0.138%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.70	+0.040%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.81	+0.134%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.71	+0.048%	$45K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.65	−0.007%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.92	+0.225%	$717.0M	$424.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.82	+0.141%	$179.1M	$173.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.86	+0.173%	$12.4M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.83	+0.150%	$971.4M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.84	+0.159%	$819.5M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.81	+0.132%	$370.2M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.65	−0.003%	$233K	$860K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.89	+0.197%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.192%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.82	+0.141%	$465.9M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.84	+0.160%	$496.0M	$448.8M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.80	+0.120%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.75	+0.082%	$24.3M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.85	+0.162%	$27.6M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	+0.216%	$95.5M	$397.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.83	+0.148%	$48.6M	$33.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.88	+0.191%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.73	+0.065%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.73	+0.063%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.71	+0.045%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.73	+0.069%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.70	+0.039%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.73	+0.065%	$46.3M	$99.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.82	+0.142%	$8.6M	$37.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.77	+0.100%	$123K	$606K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.76	+0.090%	$8.0M	$413.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.69	+0.035%	—	$217.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	118.92	+0.225%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.75	+0.082%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.76	+0.089%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.73	+0.064%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.67	+0.014%	$51.7M	$87.0M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.74	+0.071%	$36.0M	$89.8M	100x	as long as short