Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.001%

Price spread now: Bullet against HTX−0.089%50s7-day average +0.004% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.246% of the position

Long on HTX 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 4 days (all we have)+0.468%+$47 · spread now −0.089%, 7d avg +0.004%

Together, before fees+0.464%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.092% cheaper against HTX than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.004%). If the spread goes back, that is −$9 on $10k: about 5.6 days of funding at the current rate (+$2 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX SOL-USDT	117.42	0.0045	pay 0.0045% / 8h	5h 44m	$228.1M	$45.6M	75x
Short	Bullet SOL-USD	117.32	0.0100	get 0.0013% / 1h	44m 23s	$199K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against HTX. 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 HTXbpFee BulletbpOrdersPrice spread, now −0.089%Rate

Funding earned: $11.58
Price spread: −0.089% → +0.004%: −$9.2
Slippage, 4 orders: −$4.65
Fee HTX: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$22.27
Costs to cover: 0.246%
Break-even: 20.5 days

Slippage from HTX: live order book, 5 min ago; Bullet: live order book, 5 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 HTX live order book, 5 min ago	0.00 bp	6.6 bp −$7	9.8 bp −$98	18.5 bp −$1,851	45.2 bp −$22.6K
Sell Bullet live order book, 5 min ago	0.04 bp	5.8 bp −$6	9.6 bp −$96	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
Hotstuff SOL-PERP	−0.0080%	1h	117.42	−0.005%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.34	−0.071%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.45	+0.024%	$31.5M	$98.1M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.40	−0.022%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.32	−0.088%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.41	−0.012%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.53	+0.095%	$1.4M	$19.4M	3.1x	as long as short
HTX SOL-USDTlong	+0.0045%	8h	117.42	long leg	$228.1M	$45.6M	75x
01 Exchange SOLUSD	+0.0056%	1h	117.39	−0.028%	$100K	$163K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.48	+0.049%	$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	+0.074%	$26.4M	$25.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.49	+0.056%	$100K	$691K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.35	−0.063%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.37	−0.046%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.41	−0.011%	$13.0M	$59.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.40	−0.019%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.46	+0.031%	$344K	$225K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.35	−0.062%	$67K	$835K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.43	+0.006%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.39	−0.030%	$5.7M	$39.6M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.41	−0.011%	$176.2M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.44	+0.018%	$14.5M	$127.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.32	−0.089%	$966.2M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.36	−0.054%	$819.7M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.36	−0.054%	$365.4M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.21	−0.182%	$237K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.41	−0.015%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	+0.023%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.39	−0.028%	$857.7M	$646.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.36	−0.054%	$423.8M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.37	−0.043%	$130.1M	$212.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.36	−0.051%	$486.6M	$433.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.50	+0.065%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.36	−0.050%	$24.3M	$119.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.27	−0.133%	$94.2M	$400.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.27	−0.134%	$48.0M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.29	−0.114%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.36	−0.054%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.36	−0.054%	$353K	$2.4M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	117.32	−0.089%	$199K	$1.6M	20x
Bluefin SOL-PERP	+0.0100%	1h	117.47	+0.041%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.49	+0.056%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.47	+0.040%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.45	+0.023%	$45.7M	$100.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.37	−0.046%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.48	+0.046%	—	$220.8M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.56	+0.116%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.47	+0.039%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0157%	1h	117.49	+0.057%	$717.4M	$393.2M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.34	−0.074%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	−0.037%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.47	+0.040%	—	$70.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.31	−0.094%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0381%	1h	117.40	−0.019%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.40	−0.018%	$128K	$3.8M	8.3x	as long as short