Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0110%/8h= −12.1% APRpaid last 24h −0.035%

Price spread now: Derive against GRVT+0.112%7-day average −0.031% · you sell dearer than you buy

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

Long on GRVT Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.515%−$52 · spread now +0.112%, 7d avg −0.031%

Together, before fees−0.531%+ Points / potential airdropGRVT: Active · farm board−$53 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Derive is 0.143% dearer against GRVT than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of −0.031%): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.3 days. At the pace of the last 7 days (−0.016% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SOL_USDT_Perp	117.27	0.0100	pay 0.0100% / 8h	5h 45m	$48.0M	$28.4M	20x
Short	Derive SOL-PERP	117.40	−0.0010	pay 0.0001% / 1h	45m 15s	$1.9M	$2.8M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DerivebpOrdersPrice spread, now +0.112%Rate

Funding earned: −$23.15
Price spread: +0.112% → −0.031%: $14.31
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$23.84
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 4 min ago; Derive: no order-book sample. 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 GRVT live order book, 4 min ago	0.43 bp	4.9 bp −$5	5.3 bp −$53	9.7 bp −$972	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	117.38	+0.101%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.39	+0.108%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.45	+0.159%	$31.5M	$98.1M	100x	as long as short
Derive SOL-PERPshort	−0.0010%	1h	117.40	+0.112%	$1.9M	$2.8M	13x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.48	+0.183%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.36	+0.080%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.32	+0.044%	$1.4M	$19.4M	3.1x	as long as short
HTX SOL-USDT	+0.0045%	8h	117.42	+0.135%	$228.1M	$45.6M	75x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.50	+0.200%	$100K	$162K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.48	+0.184%	$8.0M	$402.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0064%	1h	117.51	+0.208%	$26.4M	$25.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.49	+0.189%	—	$363.0M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	117.28	+0.013%	$100K	$690K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.48	+0.185%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.40	+0.115%	$13.0M	$59.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.36	+0.081%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.46	+0.166%	$344K	$225K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.41	+0.123%	$67K	$831K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.49	+0.195%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.48	+0.183%	$5.7M	$39.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.47	+0.174%	$176.3M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.42	+0.135%	$14.5M	$127.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.50	+0.199%	$967.7M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.53	+0.222%	$820.3M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.47	+0.174%	$366.0M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.21	−0.047%	$237K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.48	+0.180%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	+0.157%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.47	+0.174%	$858.9M	$646.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.49	+0.191%	$424.2M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.48	+0.185%	$130.2M	$212.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.46	+0.162%	$486.9M	$432.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.38	+0.098%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.36	+0.084%	$24.3M	$119.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.27	+0.001%	$94.2M	$400.7M	75x	as long as short
GRVT SOL_USDT_Perplong	+0.0100%	8h	117.27	long leg	$48.0M	$28.4M	20x
ApeX Omni SOLUSDT	+0.0100%	1h	117.29	+0.021%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.36	+0.081%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.48	+0.183%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.48	+0.182%	$201K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.47	+0.175%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.49	+0.190%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.47	+0.174%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.45	+0.157%	$45.7M	$100.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.43	+0.144%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.35	+0.072%	—	$220.8M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.56	+0.251%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.55	+0.243%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0159%	1h	117.59	+0.277%	$718.0M	$393.2M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.47	+0.176%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	+0.098%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.47	+0.174%	—	$70.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.47	+0.178%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0379%	1h	117.44	+0.150%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.50	+0.199%	$127K	$3.8M	8.3x	as long as short