Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.035%

Price spread now: Paradex against GMX+0.065%7-day average −0.027% · you sell dearer than you buy

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.128%−$13 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now +0.065%, 7d avg −0.027%

Together, before fees+0.006%+ Points / potential airdropParadex: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Paradex is 0.092% dearer against GMX than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of −0.027%): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	116.66	L +0.0231% / S −0.0169%	pay 0.0029% / 1h	22m 25s	$3.5M	—	200x
Short	Paradex SOL-USD-PERP	116.73	0.0098	get 0.0098% / 8h	7h 22m	$1.0M	$553K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$28.05
Price spread: +0.065% → −0.027%: $9.19
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$34.87
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Paradex: 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex live order book, 2 min ago	3.05 bp	5.0 bp −$5	10.8 bp −$108	doesn't fit	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
Hotstuff SOL-PERP	−0.0080%	1h	116.67	+0.013%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	115.82	−0.714%	$1.8M	$2.9M	13x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.74	+0.069%	$32.4M	$103.8M	100x	as long as short
Bybit SOLUSDT	−0.0029%	8h	116.68	+0.021%	$730.1M	$1.37B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.64	−0.015%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.66	+0.004%	$1.4M	$19.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.64	−0.011%	$100K	$3.2M	8.3x	as long as short
Vest SOL-PERP	+0.0003%	1h	116.67	+0.007%	—	$640K	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.69	+0.031%	$481.9M	$438.9M	100x	as long as short
dYdX SOL-USD	+0.0039%	1h	116.76	+0.088%	$7.6M	$24.4M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.72	+0.058%	$7.8M	$389.8M	50x	as long as short
Aster SOLUSDT	+0.0052%	8h	116.73	+0.062%	$177.1M	$168.9M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	116.66	+0.002%	$1.0M	$5.7M	100x	as long as short
Phemex SOLUSDT	+0.0069%	8h	116.65	−0.006%	$45.3M	$102.9M	50x	as long as short
Gate SOL_USDT	+0.0079%	8h	116.73	+0.062%	$845.0M	$617.5M	100x	as long as short
SoDEX SOL-USD	+0.0087%	1h	116.69	+0.028%	$6.0M	$11.1M	20x	as long as short
Lighter SOL	+0.0096%	1h	116.73	+0.064%	$13.2M	$56.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.71	+0.045%	$2.2M	$14.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.64	−0.018%	$352K	$240K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0098%	8h	116.73	+0.065%	$1.0M	$553K	50x
Katana Perps SOL-USD	+0.0100%	8h	116.70	+0.037%	$59K	$897K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.73	+0.067%	$5.4M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.84	+0.157%	$701.8M	$387.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.77	+0.096%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.72	+0.054%	$962.8M	$3.79B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.71	+0.045%	$366.3M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.67	+0.011%	$217K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.75	+0.080%	$943K	$8.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.72	+0.054%	$410.2M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	+0.070%	$130.2M	$236.8M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.72	+0.050%	—	$368.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.67	+0.011%	$22.9M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.98	−0.579%	$24.7M	$104.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.15	−0.439%	$93.3M	$405.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.18	−0.406%	$47.6M	$27.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.01	−0.558%	$1.1M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.31	−0.298%	$1.3M	$10.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.74	+0.071%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.77	+0.096%	$282K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.51	−0.123%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.63	−0.020%	$225.8M	$50.2M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.76	−0.773%	$125.0M	$25.2M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.70	+0.035%	$8.1M	$35.5M	50x	as long as short
01 Exchange SOLUSD	+0.0104%	1h	116.76	+0.088%	$100K	$184K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.55	−0.088%	—	$227.4M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.08	−0.495%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0138%	1h	116.75	+0.080%	$26.2M	$21.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0144%	1h	116.67	+0.007%	$104K	$677K	20x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.272%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.69	+0.032%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.66	+0.002%	$52.3M	$62.3M	125x	as long as short
Bluefin SOL-PERP	+0.0229%	1h	116.64	−0.011%	$27K	$36K	25x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0231% / S −0.0169%	1h	116.66	long leg	$3.5M	—	200x
Aftermath Perps SOLUSD	+0.0403%	1h	116.24	−0.357%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.77	+0.100%	$2.2M	$4.8M	20x	as long as short