Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0120%/8h= +13.2% APRpaid last 24h +0.041%

Price spread now: SunX against dYdX−0.123%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$560.564% of the position

Long on dYdX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.123%, 7d avg −0.029%

Together, before fees+0.273%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.094% cheaper against dYdX than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of −0.029%). If the spread goes back, that is −$9 on $10k: about 2.6 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX SOL-USD	119.30	−0.0020	get 0.0003% / 1h	15m 45s	$4.9M	$25.8M	20x
Short	SunX SOL-USDT	119.15	0.0100	get 0.0100% / 8h	7h 15m	$193K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against dYdX. 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 dYdXbpFee SunXbpOrdersPrice spread, now −0.123%Rate

Funding earned: $25.25
Price spread: −0.123% → −0.029%: −$9.41
Slippage, 4 orders: −$38.43
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$40.6
Costs to cover: 0.564%
Break-even: 18.3 days

Slippage from dYdX: live order book, 3 min ago; SunX: live order book, 10 min ago.

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 dYdX live order book, 3 min ago	0.84 bp	6.3 bp −$6	9.3 bp −$93	20.4 bp −$2,036	26.9 bp −$13.5K
Sell SunX live order book, 10 min ago	4.20 bp	23.3 bp −$23	36.8 bp −$368	doesn't fit	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
Hotstuff SOL-PERP	−0.0080%	1h	119.00	−0.247%	$931	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	119.09	−0.172%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	119.11	−0.160%	$2.0M	$2.7M	13x	as long as short
dYdX SOL-USDlong	−0.0020%	1h	119.30	long leg	$4.9M	$25.8M	20x
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.24	−0.053%	$32.3M	$97.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0008%	1h	118.90	−0.333%	$100K	$650K	20x	as long as short
HTX SOL-USDT	0.0000%	8h	119.11	−0.161%	$231.7M	$44.1M	75x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.20	−0.084%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.19	−0.092%	$1.2M	$20.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.20	−0.083%	$154K	$3.8M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0032%	1h	119.18	−0.100%	$104K	$160K	20x	as long as short
Bluefin SOL-PERP	+0.0067%	1h	119.19	−0.095%	$37K	$17K	25x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.23	−0.057%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.18	−0.100%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.24	−0.049%	$8.1M	$410.7M	50x	as long as short
Gate SOL_USDT	+0.0092%	8h	119.26	−0.033%	$857.2M	$670.3M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.21	−0.076%	$14.1M	$56.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.20	−0.082%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.14	−0.137%	$349K	$260K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.26	−0.034%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.21	−0.075%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.15	−0.121%	$6.3M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.32	+0.017%	$726.9M	$397.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.26	−0.033%	$180.2M	$176.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.27	−0.028%	$12.3M	$125.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.27	−0.021%	$982.0M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.32	+0.017%	$827.3M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.23	−0.058%	$371.5M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.12	−0.151%	$233K	$833K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.17	−0.109%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.454%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.27	−0.025%	$433.0M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.23	−0.062%	$138.9M	$203.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.26	−0.036%	$494.6M	$439.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.22	−0.067%	$24.0M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.18	−0.103%	$24.9M	$130.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.89	−0.346%	$95.5M	$403.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.91	−0.327%	$48.7M	$29.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.86	−0.369%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.01	−0.243%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.18	−0.100%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.16	−0.114%	$203K	$1.7M	20x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	119.15	−0.123%	$193K	$1.8M	30x
SoDEX SOL-USD	+0.0100%	1h	119.23	−0.058%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.21	−0.075%	$46.8M	$99.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.22	−0.067%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.10	−0.167%	$6.6M	$13.6M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0120%	1h	119.27	−0.027%	$26.7M	$24.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.02	−0.233%	—	$218.9M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.23	−0.058%	$1.8M	$4.5M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	119.19	−0.089%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.243%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	119.17	−0.110%	$1.1M	$524K	25x	as long as short
Aftermath Perps SOLUSD	+0.0194%	1h	119.05	−0.210%	$25K	$50K	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.04	−0.218%	$51.9M	$75.0M	125x	as long as short