Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.005%

Price spread now: BloFin against GMX−0.018%51s7-day average −0.041% · you buy dearer than you sell

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.144%−$14 · spread now −0.018%, 7d avg −0.041%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.022% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.041%. The two prices were read 51 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	GMX SOL/USD [SOL-USDC]	119.45	L +0.0169% / S −0.0072%	pay 0.0021% / 1h	57m 26s	$3.7M	—	200x
Short	BloFin SOL-USDT	119.43	0.0220	get 0.0220% / 8h	57m 26s	$52.1M	$84.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GMX. 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 GMXbpFee BloFinbpOrdersPrice spread, now −0.018%Rate

Funding earned: $10.72
Price spread: −0.018% → −0.041%: $2.22
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.06
Costs to cover: 0.240%
Break-even: 14.2 days

Slippage unknown: GMX: no order-book sample; BloFin: 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 GMX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 7 min ago	0.42 bp	6.4 bp −$6	6.4 bp −$64	8.5 bp −$851	12.4 bp −$6,215

GMX: 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
Hotstuff SOL-PERP	−0.0080%	1h	119.45	−0.003%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.46	+0.011%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.36	−0.075%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.52	+0.057%	$115K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.48	+0.027%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.53	+0.065%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.50	+0.038%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.58	+0.107%	$6.6M	$13.7M	25x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.53	+0.065%	$104K	$157K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0069%	1h	119.48	+0.022%	$26.7M	$26.1M	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	+0.0071%	8h	119.45	+0.001%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.52	+0.059%	—	$371.4M	—	as long as short
HTX SOL-USDT	+0.0082%	8h	119.46	+0.008%	$232.5M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0086%	8h	119.43	−0.018%	$869.7M	$671.8M	100x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	119.49	+0.028%	$118K	$608K	20x	as long as short
Aftermath Perps SOLUSD	+0.0090%	1h	119.35	−0.086%	$24K	$47K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.46	+0.007%	$13.6M	$55.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.43	−0.017%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.42	−0.028%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.45	−0.003%	$8.3M	$417.8M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.45	−0.003%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.47	+0.015%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.46	+0.006%	$6.1M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.62	+0.141%	$722.1M	$411.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.54	+0.073%	$179.0M	$175.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.49	+0.028%	$12.3M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.51	+0.049%	$984.4M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.54	+0.074%	$831.0M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.52	+0.057%	$372.8M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.48	+0.023%	$233K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.53	+0.063%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.35	−0.085%	$133.8M	$7.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.54	+0.074%	$451.6M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.53	+0.061%	$140.1M	$203.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.53	+0.063%	$497.7M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.46	+0.007%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	−0.162%	$27.3M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.37	−0.066%	$95.9M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.37	−0.065%	$48.8M	$31.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.36	−0.080%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.53	+0.065%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.54	+0.074%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.50	+0.044%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.45	+0.001%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.48	+0.026%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.42	−0.027%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.48	+0.023%	$46.7M	$102.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.46	+0.009%	$8.7M	$36.2M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	119.42	−0.026%	$32.7M	$96.9M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.55	+0.080%	—	$224.3M	500x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0169% / S −0.0072%	1h	119.45	long leg	$3.7M	—	200x
Injective SOL/USDC PERP	+0.0170%	1h	119.02	−0.362%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.51	+0.052%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDTshort	+0.0220%	8h	119.43	−0.018%	$52.1M	$84.2M	125x
RISEx SOL/USDC	+0.0226%	1h	119.53	+0.069%	$1.7M	$5.3M	20x	as long as short