Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0066%/8h= −7.3% APRpaid last 24h −0.029%

Price spread now: KuCoin against GMX+0.038%7-day average −0.030% · you sell dearer than you buy

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.119%−$12 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.038%, 7d avg −0.030%

Together, before fees−0.148%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.068% dearer against GMX than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.030%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	118.79	L +0.0166% / S −0.0070%	pay 0.0021% / 1h	1m 50s	$3.7M	—	200x
Short	KuCoin SOLUSDTM	118.83	0.0100	get 0.0100% / 8h	1m 50s	$137.5M	$207.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$13.91
Price spread: +0.038% → −0.030%: $6.77
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$31.14
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: 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 KuCoin live order book, 7 min ago	0.72 bp	9.0 bp −$9	10.9 bp −$109	15.5 bp −$1,546	doesn't fit

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
Derive SOL-PERP	−0.0100%	1h	118.70	−0.076%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.78	−0.008%	$842	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	118.72	−0.059%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	118.76	−0.020%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.80	+0.009%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.80	+0.010%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.76	−0.020%	$175K	$3.9M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0002%	1h	118.55	−0.200%	$1.5M	$6.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0051%	1h	118.84	+0.040%	$26.6M	$25.7M	50x	as long as short
Gate SOL_USDT	+0.0065%	8h	118.80	+0.011%	$860.7M	$689.9M	100x	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	+0.0072%	1h	118.79	+0.002%	$104K	$158K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0077%	8h	118.80	+0.006%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0079%	8h	118.71	−0.063%	$231.1M	$45.0M	75x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.78	−0.010%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.79	+0.006%	$122K	$642K	20x	as long as short
Lighter SOL	+0.0096%	1h	118.78	−0.005%	$13.4M	$56.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.78	−0.009%	$2.1M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.82	+0.026%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.84	+0.043%	$8.2M	$416.6M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.80	+0.006%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.75	−0.031%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.76	−0.019%	$5.8M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.89	+0.086%	$719.0M	$407.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.80	+0.013%	$178.5M	$177.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.82	+0.025%	$12.2M	$122.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.82	+0.024%	$980.3M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.83	+0.036%	$823.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.81	+0.019%	$371.3M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.76	−0.023%	$230K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.79	+0.006%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.65	−0.118%	$133.6M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.82	+0.027%	$426.4M	$1.14B	300x	as long as short
KuCoin SOLUSDTMshort	+0.0100%	8h	118.83	+0.038%	$137.5M	$207.0M	75x
Bitget SOLUSDT	+0.0100%	8h	118.80	+0.013%	$492.9M	$458.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.83	+0.036%	$24.2M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.260%	$27.0M	$128.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.60	−0.159%	$95.3M	$403.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.57	−0.186%	$48.6M	$30.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.79	+0.002%	$1.4M	$13.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.77	−0.015%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.78	−0.010%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.77	−0.013%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.77	−0.017%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.78	−0.006%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.77	−0.015%	$46.5M	$102.5M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.64	−0.124%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.80	+0.008%	$8.7M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.81	+0.018%	$32.6M	$97.1M	100x	as long as short
Aftermath Perps SOLUSD	+0.0116%	1h	118.69	−0.083%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.78	−0.005%	—	$225.8M	500x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0166% / S −0.0070%	1h	118.79	long leg	$3.7M	—	200x
Injective SOL/USDC PERP	+0.0170%	1h	118.66	−0.107%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0185%	1h	118.76	−0.023%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.76	−0.023%	$51.8M	$80.1M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.75	−0.029%	$1.8M	$4.8M	20x	as long as short