Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.021%

Price spread now: Coinbase International against GRVT−0.145%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 3 days (all we have)+0.030%+$3 · spread now −0.145%, 7d avg +0.015%

Together, before fees+0.061%+ Points / potential airdropGRVT: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.159% cheaper against GRVT than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of +0.015%). If the spread goes back, that is −$16 on $10k: about 44 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SOL_USDT_Perp	119.56	0.0100	pay 0.0100% / 8h	2h 12m	$49.0M	$33.3M	20x
Short	Coinbase International SOL-PERP-INTX	119.38	0.0112	get 0.0014% / 1h	12m 54s	$8.2M	$416.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.145%Rate

Funding earned: $2.52
Price spread: −0.145% → +0.015%: −$15.93
Slippage, 4 orders: −$4.23
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$36.64
Costs to cover: 0.232%
Break-even: 108.8 days

Slippage from GRVT: live order book, 6 min ago; Coinbase International: 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	0.42 bp	4.9 bp −$5	5.3 bp −$53	10.8 bp −$1,075	doesn't fit
Sell Coinbase International live order book, 1 min ago	0.04 bp	6.1 bp −$6	8.2 bp −$82	16.2 bp −$1,619	687.2 bp −$343.6K

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	119.15	−0.340%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.49	−0.056%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0071%	1h	119.33	−0.190%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.21	−0.287%	$2.0M	$3.1M	13x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.50	−0.046%	$5.0M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.32	−0.198%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.32	−0.197%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.31	−0.204%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.35	−0.174%	$26.8M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0035%	1h	119.56	−0.001%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0051%	8h	119.22	−0.282%	$232.2M	$44.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.32	−0.200%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.57	+0.014%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.40	−0.131%	$105K	$151K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.33	−0.191%	—	$373.9M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.35	−0.173%	$871.1M	$688.2M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.32	−0.198%	$13.6M	$55.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.32	−0.199%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.27	−0.237%	$354K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.41	−0.126%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.40	−0.131%	$49K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.38	−0.148%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.44	−0.098%	$721.3M	$414.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.31	−0.209%	$179.6M	$176.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.47	−0.074%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.32	−0.198%	$976.9M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.35	−0.173%	$825.3M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.32	−0.198%	$371.6M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.39	−0.140%	$235K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.49	−0.054%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.084%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.32	−0.198%	$427.5M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.36	−0.165%	$141.0M	$197.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.33	−0.186%	$497.9M	$453.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.33	−0.190%	$24.3M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.47	−0.073%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.43	−0.105%	$95.9M	$402.8M	75x	as long as short
GRVT SOL_USDT_Perplong	+0.0100%	8h	119.56	long leg	$49.0M	$33.3M	20x
ApeX Omni SOLUSDT	+0.0100%	1h	119.38	−0.145%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.51	−0.039%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.32	−0.198%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.30	−0.213%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.32	−0.200%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.42	−0.118%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.32	−0.198%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.35	−0.173%	$46.6M	$101.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.31	−0.210%	$8.7M	$36.6M	50x	as long as short
Coinbase International SOL-PERP-INTXshort	+0.0112%	1h	119.38	−0.145%	$8.2M	$416.9M	50x
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.57	+0.012%	—	$221.7M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.58	+0.019%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.32	−0.198%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.41	−0.119%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.31	−0.207%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.32	−0.198%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.37	−0.157%	$35.5M	$91.2M	100x	as long as short