Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0155%/8h= +17.0% APRpaid last 24h +0.002%

Price spread now: Phemex against Kraken Futures+0.011%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.011%, 7d avg +0.007%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.118%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOLUSD	117.13	−0.0055	get 0.0007% / 1h	38m 01s	$31.5M	$98.4M	100x
Short	Phemex SOLUSDT	117.14	0.0100	get 0.0100% / 8h	5h 38m	$45.6M	$100.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now +0.011%Rate

Funding earned: $32.63
Price spread: +0.011% → +0.007%: $0.35
Slippage, 4 orders: −$9.99
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $0.99
Costs to cover: 0.320%
Break-even: 6.8 days

Slippage from Kraken Futures: live order book, 1 min ago; Phemex: live order book, 6 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 Kraken Futures live order book, 1 min ago	1.71 bp	7.2 bp −$7	8.6 bp −$86	13.9 bp −$1,389	26.2 bp −$13.1K
Sell Phemex live order book, 6 min ago	0.43 bp	8.4 bp −$8	9.7 bp −$97	16.7 bp −$1,672	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	117.23	+0.090%	$917	$8K	25x	as long as short
Vest SOL-PERP	−0.0060%	1h	117.11	−0.017%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSDlong	−0.0055%	1h	117.13	long leg	$31.5M	$98.4M	100x
Derive SOL-PERP	−0.0010%	1h	117.07	−0.052%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.15	+0.019%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.19	+0.050%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.20	+0.061%	$1.4M	$19.4M	3.1x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0045%	1h	117.18	+0.046%	$26.3M	$25.1M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.15	+0.019%	$100K	$163K	20x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	117.21	+0.070%	$102K	$691K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.13	+0.002%	$8.0M	$402.1M	50x	as long as short
HTX SOL-USDT	+0.0065%	8h	117.18	+0.045%	$227.6M	$45.5M	75x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.11	−0.018%	—	$362.8M	—	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.15	+0.022%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.14	+0.009%	$13.1M	$59.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.10	−0.020%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.14	+0.009%	$343K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.12	−0.007%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.22	+0.082%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.13	+0.006%	$5.8M	$39.3M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.13	+0.002%	$176.4M	$178.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.24	+0.099%	$14.5M	$128.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.15	+0.019%	$964.2M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.16	+0.028%	$820.9M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.16	+0.028%	$364.9M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.13	+0.002%	$238K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.21	+0.072%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	+0.275%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.10	−0.024%	$855.6M	$647.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.11	−0.015%	$423.6M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.16	+0.028%	$129.6M	$212.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.14	+0.011%	$485.5M	$432.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.12	−0.007%	$23.6M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.24	+0.098%	$24.3M	$117.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.31	+0.160%	$94.2M	$398.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.46	+0.284%	$48.1M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.39	+0.221%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.25	+0.104%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.13	+0.002%	$351K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.14	+0.012%	$199K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.35	−0.661%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.14	+0.011%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.14	+0.011%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.14	+0.011%	$45.6M	$100.1M	50x
Extended SOL-USD	+0.0104%	1h	117.14	+0.009%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.17	+0.035%	—	$219.0M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.38	+0.215%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.27	+0.126%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0160%	1h	117.23	+0.087%	$716.0M	$392.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.11	−0.015%	$1.1M	$526K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	+0.215%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.14	+0.011%	$51.6M	$70.9M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.23	+0.084%	$127K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.14	+0.013%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0387%	1h	117.34	+0.181%	$25K	$51K	20x	as long as short