Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.027%

Price spread now: Phemex against gTrade (Gains Network)−0.030%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.030% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) SOL/USD	119.05	L 0.0000% / S +0.0004%	get 0.0000% / 1h	32m 03s	$54K	—	150x
Short	Phemex SOLUSDT	119.01	0.0100	get 0.0100% / 8h	2h 32m	$46.5M	$100.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.030%Rate

Funding earned: $21.09
Price spread: −0.030% → 0.000%: −$3.02
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$3.94
Costs to cover: 0.220%
Break-even: 8.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 2 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	0.42 bp	6.4 bp −$6	6.6 bp −$66	15.4 bp −$1,543	doesn't fit

gTrade (Gains Network): 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	−0.131%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.95	−0.077%	$2.0M	$3.2M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.06	+0.013%	$844	$8K	25x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.98	−0.059%	—	$724K	20x	as long as short
Aftermath Perps SOLUSD	−0.0008%	1h	118.99	−0.043%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USDlong	L 0.0000% / S +0.0004%	1h	119.05	long leg	$54K	—	150x
Kalshi KXSOLPERP	0.0000%	8h	119.03	−0.013%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.02	−0.021%	$180K	$4.0M	8.3x	as long as short
dYdX SOL-USD	0.0000%	1h	119.05	+0.002%	$4.9M	$26.9M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0006%	1h	119.09	+0.033%	$26.7M	$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	+0.0060%	8h	119.03	−0.010%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0063%	8h	118.96	−0.075%	$231.8M	$43.6M	75x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.05	+0.003%	$104K	$152K	20x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	118.99	−0.050%	$122K	$600K	20x	as long as short
ApeX Omni SOLUSDT	+0.0075%	1h	119.12	+0.061%	$1.5M	$6.2M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.00	−0.039%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0085%	8h	119.00	−0.039%	$868.8M	$681.4M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.02	−0.022%	$13.4M	$53.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.01	−0.029%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.02	−0.018%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.03	−0.011%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.02	−0.022%	$45K	$781K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.01	−0.031%	$6.5M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.11	+0.054%	$718.6M	$414.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.00	−0.036%	$179.6M	$174.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.10	+0.045%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.99	−0.047%	$972.7M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.01	−0.028%	$825.2M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.96	−0.072%	$370.8M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.96	−0.072%	$234K	$867K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.11	+0.051%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.01	−0.030%	$474.8M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.06	+0.009%	$142.8M	$196.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.01	−0.033%	$496.7M	$448.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.04	−0.005%	$24.4M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.00	−0.038%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.99	−0.044%	$95.6M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.12	+0.063%	$48.8M	$33.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.99	−0.047%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.02	−0.022%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.01	−0.029%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.04	−0.007%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.00	−0.040%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.02	−0.022%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	119.01	−0.030%	$46.5M	$100.0M	50x
Bulk SOL-USD	+0.0100%	1h	118.71	−0.283%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.00	−0.042%	$8.7M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.06	+0.013%	$8.1M	$414.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.04	−0.004%	—	$216.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.03	−0.013%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.08	+0.032%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.00	−0.036%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.98	−0.055%	$51.7M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	119.04	−0.009%	$36.0M	$89.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	119.04	−0.005%	$3.6M	—	200x	as long as short