Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.036%

Price spread now: Derive against KuCoin−0.166%7-day average −0.043% · you buy dearer than you sell

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

Long on KuCoin Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.166%, 7d avg −0.043%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Derive is 0.123% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.043%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.047% in total (about 2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOLUSDTM	118.85	0.0094	pay 0.0094% / 8h	2h 43m	$143.7M	$196.5M	75x
Short	Derive SOL-PERP	118.65	−0.0104	pay 0.0013% / 1h	43m 30s	$2.0M	$3.2M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.166%Rate

Funding earned: −$41.65
Price spread: −0.166% → −0.043%: −$12.33
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Derive: 3 bp × 2 orders: −$6
Net: −$71.98
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	0.04 bp	6.3 bp −$6	10.0 bp −$100	15.6 bp −$1,565	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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	+0.033%	$4K	$2K	12x	as long as short
Derive SOL-PERPshort	−0.0104%	1h	118.65	−0.166%	$2.0M	$3.2M	13x
Hotstuff SOL-PERP	−0.0080%	1h	118.83	−0.022%	$842	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	118.75	−0.089%	—	$724K	20x	as long as short
Aftermath Perps SOLUSD	−0.0046%	1h	118.86	+0.005%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.76	−0.080%	$48K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.72	−0.108%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.69	−0.138%	$179K	$4.0M	8.3x	as long as short
dYdX SOL-USD	0.0000%	1h	118.87	+0.012%	$4.9M	$26.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0039%	1h	118.74	−0.093%	$1.5M	$6.2M	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	+0.0053%	1h	118.78	−0.060%	$26.6M	$27.7M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0059%	8h	118.74	−0.095%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.88	+0.024%	$105K	$153K	20x	as long as short
HTX SOL-USDT	+0.0072%	8h	118.65	−0.173%	$231.2M	$43.6M	75x	as long as short
Gate SOL_USDT	+0.0084%	8h	118.82	−0.026%	$858.3M	$677.2M	100x	as long as short
KuCoin SOLUSDTMlong	+0.0094%	8h	118.85	long leg	$143.7M	$196.5M	75x
Lighter SOL	+0.0096%	1h	118.83	−0.019%	$13.4M	$53.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.82	−0.029%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.70	−0.126%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.81	−0.033%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.83	−0.018%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.84	−0.010%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.92	+0.058%	$717.0M	$424.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.84	−0.009%	$179.2M	$173.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.86	+0.006%	$12.4M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.83	−0.014%	$971.4M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.84	−0.008%	$819.5M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.81	−0.034%	$370.2M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.65	−0.169%	$233K	$860K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.89	+0.030%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.026%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.82	−0.026%	$465.9M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.80	−0.041%	$495.8M	$448.8M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.80	−0.046%	—	$10.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.75	−0.085%	$24.3M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.85	−0.005%	$27.6M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.77	−0.068%	$95.4M	$397.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.66	−0.162%	$48.6M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.76	−0.077%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.82	−0.026%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.73	−0.103%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.71	−0.121%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.73	−0.098%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.70	−0.127%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.73	−0.102%	$46.3M	$99.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.83	−0.022%	$8.6M	$37.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.77	−0.067%	$123K	$606K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.76	−0.077%	$8.0M	$413.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.69	−0.132%	—	$217.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	118.92	+0.058%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.75	−0.085%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.89	+0.032%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.78	−0.062%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.67	−0.152%	$51.7M	$87.0M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.74	−0.095%	$36.0M	$89.8M	100x	as long as short