Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against KuCoin−0.157%7-day average +0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 7 days−0.473%−$47 · spread now −0.157%, 7d avg +0.092%

Together, before fees−0.374%−$37 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.248% cheaper against KuCoin than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOLUSDTM	118.83	0.0100	pay 0.0100% / 8h	7h 43m	$138.0M	$207.1M	75x
Short	Backpack SOL_USDC_PERP	118.64	0.0100	get 0.0013% / 1h	43m 27s	$24.1M	$37.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → +0.092%: −$24.84
Slippage, 4 orders: −$7.33
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$54.17
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Backpack: 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 KuCoin live order book, 6 min ago	0.46 bp	10.6 bp −$11	13.0 bp −$130	19.1 bp −$1,912	doesn't fit
Sell Backpack live order book, 1 min ago	0.42 bp	5.9 bp −$6	6.6 bp −$66	8.6 bp −$859	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	118.79	−0.029%	$842	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.72	−0.090%	—	$610K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.55	−0.231%	$2.0M	$2.8M	13x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.63	−0.162%	$32.4M	$96.6M	100x	as long as short
dYdX SOL-USD	−0.0010%	1h	118.81	−0.013%	$4.9M	$26.5M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.84	+0.009%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.68	−0.119%	$1.2M	$20.5M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.80	−0.024%	$155K	$3.9M	8.3x	as long as short
HTX SOL-USDT	+0.0042%	8h	118.56	−0.222%	$230.7M	$44.8M	75x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0049%	1h	118.68	−0.126%	$26.6M	$25.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0056%	1h	118.83	+0.003%	$104K	$159K	20x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	118.61	−0.184%	$121K	$633K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0079%	8h	118.84	+0.015%	$1.0M	$5.9M	100x	as long as short
ApeX Omni SOLUSDT	+0.0079%	1h	118.62	−0.173%	$1.5M	$6.1M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.83	+0.003%	—	$367.7M	—	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.67	−0.130%	$8.1M	$412.8M	50x	as long as short
Gate SOL_USDT	+0.0094%	8h	118.80	−0.022%	$858.9M	$661.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.79	−0.033%	$14.0M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.78	−0.039%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.83	+0.005%	$348K	$265K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.78	−0.037%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.78	−0.039%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.81	−0.018%	$5.8M	$41.0M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.80	−0.019%	$178.5M	$176.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.82	−0.004%	$12.2M	$123.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.83	+0.003%	$979.3M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.85	+0.020%	$822.8M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.84	+0.012%	$370.7M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.61	−0.182%	$232K	$860K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.83	+0.004%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.55	−0.232%	$133.5M	$4.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.80	−0.022%	$426.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTMlong	+0.0100%	8h	118.83	long leg	$138.0M	$207.1M	75x
Bitget SOLUSDT	+0.0100%	8h	118.81	−0.014%	$493.1M	$446.1M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	118.64	−0.157%	$24.1M	$37.4M	50x
Variational Omni SOL	+0.0100%	8h	118.61	−0.185%	$26.9M	$128.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.57	−0.216%	$95.2M	$405.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.67	−0.127%	$48.6M	$30.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.67	−0.131%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.80	−0.022%	$360K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.80	−0.018%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.82	−0.002%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.66	−0.141%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.62	−0.173%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.65	−0.148%	$46.5M	$101.4M	50x	as long as short
Hyperliquid SOL	+0.0101%	1h	118.91	+0.071%	$720.3M	$404.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	118.74	−0.077%	$8.7M	$35.2M	50x	as long as short
Phoenix SOL	+0.0114%	1h	118.68	−0.123%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.79	−0.033%	—	$222.4M	500x	as long as short
Aftermath Perps SOLUSD	+0.0151%	1h	118.69	−0.115%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.82	−0.009%	$1.8M	$4.6M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0065%	1h	118.83	0.000%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	118.66	−0.140%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0185%	1h	118.78	−0.036%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.55	−0.232%	$51.9M	$78.9M	125x	as long as short