Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against edgeX+0.185%7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days−0.858%−$86 · spread now +0.185%, 7d avg +0.101%

Together, before fees−0.838%+ Points / potential airdropedgeX: Active · farm board−$84 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.084% dearer against edgeX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SOLUSDC	119.73	0.0100	pay 0.0050% / 4h	2h 19m	$96.2M	$400.8M	75x
Short	Backpack SOL_USDC_PERP	119.95	0.0100	get 0.0013% / 1h	19m 35s	$24.5M	$38.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now +0.185%Rate

Funding earned: $0
Price spread: +0.185% → +0.101%: $8.41
Slippage, 4 orders: −$6.41
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$17
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Backpack: live order book, 5 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 edgeX live order book, 5 min ago	2.51 bp	7.0 bp −$7	7.0 bp −$70	7.1 bp −$709	10.9 bp −$5,445
Sell Backpack live order book, 5 min ago	0.42 bp	6.0 bp −$6	7.0 bp −$70	9.7 bp −$970	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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.483%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.85	+0.102%	$850	$8K	25x	as long as short
Vest SOL-PERP	−0.0075%	1h	119.76	+0.024%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0045%	1h	119.80	+0.061%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.88	+0.123%	$5.1M	$27.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.85	+0.098%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.88	+0.123%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.83	+0.083%	$180K	$4.0M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0019%	1h	119.55	−0.147%	$24K	$47K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0050%	1h	119.94	+0.173%	$26.9M	$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
HTX SOL-USDT	+0.0055%	8h	119.74	+0.010%	$233.2M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.89	+0.134%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.77	+0.033%	$121K	$611K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.88	+0.126%	$105K	$152K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.83	+0.087%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0090%	8h	119.83	+0.084%	$875.6M	$686.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.87	+0.115%	$13.7M	$54.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.84	+0.091%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.86	+0.108%	$356K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.91	+0.148%	$1.1M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.87	+0.118%	$49K	$788K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.84	+0.093%	$6.4M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.93	+0.168%	$724.0M	$413.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.88	+0.128%	$180.5M	$175.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.89	+0.135%	$12.5M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.83	+0.088%	$982.4M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.82	+0.078%	$829.1M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.75	+0.018%	$373.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.91	+0.151%	$235K	$879K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.90	+0.140%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	−0.059%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.84	+0.093%	$440.0M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.87	+0.120%	$141.8M	$197.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.82	+0.077%	$500.8M	$452.2M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	119.95	+0.185%	$24.5M	$38.4M	50x
Variational Omni SOL	+0.0100%	8h	119.82	+0.075%	$27.5M	$127.6M	—	as long as short
edgeX SOLUSDClong	+0.0100%	4h	119.73	long leg	$96.2M	$400.8M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	119.58	−0.125%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.75	+0.013%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.82	+0.076%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.78	+0.043%	$373K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.83	+0.082%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.87	+0.120%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.83	+0.080%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.90	+0.143%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.86	+0.110%	$46.8M	$101.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.81	+0.067%	$8.8M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.95	+0.187%	$8.3M	$418.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.84	+0.092%	—	$219.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.75	+0.018%	$6.6M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.88	+0.127%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0179%	1h	119.84	+0.091%	$1.1M	$562K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.77	+0.034%	$51.6M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0222%	1h	119.94	+0.175%	$35.8M	$91.0M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0171%	1h	119.84	+0.092%	$3.6M	—	200x	as long as short