Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.001%

Price spread now: Bullet against GRVT−0.014%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on GRVT Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days+0.003%$0 · spread now −0.014%, 7d avg +0.002%

Together, before fees−0.001%+ Points / potential airdropGRVT: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SOL_USDT_Perp	116.51	0.0100	pay 0.0100% / 8h	3h 13m	$47.7M	$30.8M	20x
Short	Bullet SOL-USD	116.49	0.0060	get 0.0007% / 1h	13m 21s	$147K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against GRVT. 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 GRVTbpFee BulletbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$8.48
Price spread: −0.014% → +0.002%: −$1.66
Slippage, 4 orders: −$5.29
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$32.43
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from GRVT: live order book, 6 min ago; Bullet: live order book, 1 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 GRVT live order book, 6 min ago	0.43 bp	4.9 bp −$5	5.1 bp −$51	9.5 bp −$949	doesn't fit
Sell Bullet live order book, 1 min ago	0.13 bp	6.8 bp −$7	9.2 bp −$92	doesn't fit	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
Hibachi SOL/USDT-P	−0.0208%	1h	116.59	+0.070%	$105K	$703K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.52	+0.008%	$31.3M	$102.2M	100x	as long as short
Vest SOL-PERP	−0.0107%	1h	116.45	−0.051%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.61	+0.090%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0056%	8h	116.42	−0.080%	$751.2M	$1.39B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.42	−0.076%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.51	0.000%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.52	+0.015%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0011%	1h	116.49	−0.016%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.52	+0.014%	$7.6M	$405.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USDshort	+0.0060%	1h	116.49	−0.014%	$147K	$1.6M	20x
01 Exchange SOLUSD	+0.0064%	1h	116.53	+0.019%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0092%	8h	116.47	−0.033%	$480.7M	$447.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.51	−0.001%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.50	−0.006%	$13.1M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.49	−0.018%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.51	+0.005%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.46	−0.041%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.52	+0.008%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.47	−0.028%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.61	+0.088%	$702.5M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.48	−0.024%	$174.5M	$183.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.53	+0.017%	$15.7M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.51	+0.002%	$971.7M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.51	+0.002%	$367.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.42	−0.075%	$227K	$844K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.54	+0.026%	$919K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.047%	$133.0M	$16.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.48	−0.024%	$855.8M	$667.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.51	+0.002%	$368.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.49	−0.012%	$128.8M	$224.1M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.49	−0.018%	—	$364.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.49	−0.015%	$23.0M	$40.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.48	−0.020%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.58	+0.062%	$93.6M	$401.9M	75x	as long as short
GRVT SOL_USDT_Perplong	+0.0100%	8h	116.51	long leg	$47.7M	$30.8M	20x
ApeX Omni SOLUSDT	+0.0100%	1h	116.71	+0.174%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.50	−0.007%	$1.3M	$12.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.48	−0.024%	$320K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.51	+0.002%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.50	−0.003%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.50	−0.007%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.48	−0.024%	$225.7M	$48.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.51	+0.002%	$45.3M	$103.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.44	−0.058%	$8.2M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.165%	$4K	$2K	12x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0110%	1h	116.55	+0.038%	$26.3M	$23.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.52	+0.013%	—	$235.7M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.079%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.47	−0.036%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.50	−0.007%	$51.8M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.50	−0.007%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.53	+0.019%	$132K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.58	+0.066%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0576%	1h	116.59	+0.070%	$25K	$52K	20x	as long as short