Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Variational Omni against Hotstuff−0.292%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.292% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.292% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 5.4 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff SOL-PERP	119.73	−0.0080	get 0.0010% / 1h	40m 59s	$849	$8K	25x
Short	Variational Omni SOL	119.38	0.0100	get 0.0100% / 8h	1h 40m	$27.7M	$127.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hotstuff. 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 HotstuffbpFee Variational OmnibpOrdersPrice spread, now −0.292%Rate

Funding earned: $37.8
Price spread: −0.292% → 0.000%: −$29.18
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.62
Costs to cover: 0.050%
Break-even: 6.3 days

Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, 3 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	1.21 bp	doesn't fit	1.5 bp −$15	7.2 bp −$716	doesn't fit

Hotstuff: 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
Bluefin SOL-PERP	−0.0426%	1h	119.66	−0.058%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0095%	1h	119.59	−0.122%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERPlong	−0.0080%	1h	119.73	long leg	$849	$8K	25x
Vest SOL-PERP	−0.0063%	1h	119.65	−0.071%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0002%	1h	119.74	+0.003%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.70	−0.029%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.75	+0.010%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.72	−0.011%	$179K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0008%	1h	119.53	−0.172%	$120K	$611K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0044%	1h	119.74	+0.005%	$26.8M	$27.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SOL	+0.0054%	1h	119.50	−0.195%	$6.6M	$13.6M	25x	as long as short
Aftermath Perps SOLUSD	+0.0061%	1h	119.49	−0.203%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	119.67	−0.054%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0076%	8h	119.68	−0.044%	$233.1M	$44.6M	75x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.73	−0.003%	—	$10.5M	—	as long as short
01 Exchange SOLUSD	+0.0088%	1h	119.74	+0.006%	$105K	$153K	20x	as long as short
Gate SOL_USDT	+0.0090%	8h	119.68	−0.044%	$873.4M	$679.3M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.68	−0.043%	$13.6M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.69	−0.036%	$2.1M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.60	−0.110%	$354K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.71	−0.020%	$1.1M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.71	−0.019%	$46K	$790K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.70	−0.023%	$6.2M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.80	+0.056%	$722.4M	$416.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.74	+0.006%	$179.2M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.76	+0.021%	$12.4M	$116.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.74	+0.006%	$986.8M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.77	+0.032%	$827.6M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.74	+0.006%	$373.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.74	+0.006%	$234K	$889K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.81	+0.065%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.71	−0.019%	$459.8M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.72	−0.012%	$141.3M	$199.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.73	−0.003%	$497.1M	$454.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.72	−0.011%	$24.2M	$38.7M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	119.38	−0.292%	$27.7M	$127.8M	—
edgeX SOLUSDC	+0.0100%	4h	119.51	−0.189%	$96.0M	$398.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.44	−0.246%	$48.9M	$32.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.49	−0.202%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.68	−0.044%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.70	−0.028%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.69	−0.035%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.67	−0.053%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.69	−0.036%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.63	−0.086%	$46.7M	$101.8M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.75	+0.013%	$134.3M	$8.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.66	−0.060%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.73	0.000%	$8.2M	$415.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.77	+0.034%	—	$221.9M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.70	−0.026%	$32.7M	$95.3M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.69	−0.032%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.68	−0.044%	$1.1M	$558K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.78	+0.040%	$1.7M	$5.9M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.504%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.69	−0.036%	$52.1M	$82.8M	125x	as long as short