Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.021%

Price spread now: Deribit against MEXC+0.096%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$130.128% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.281%−$28 · spread now +0.096%, 7d avg +0.018%

Together, before fees−0.350%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.079% dearer against MEXC than usual: you sell high and buy low (spread +0.096% now, against its 7-day average of +0.018%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 7 days (−0.069% in total) that is about 8.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SOL_USDT	118.75	0.0100	pay 0.0100% / 8h	2h 45m	$466.3M	$1.07B	300x
Short	Deribit SOL_USDC-PERPETUAL	118.86	0	get 0.0000% / 1h	45m 44s	$26.7M	$27.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$21
Price spread: +0.096% → +0.018%: $7.88
Slippage, 4 orders: −$3.76
Fee MEXC: 1 bp × 2 orders: −$2
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.88
Costs to cover: 0.128%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Deribit: live order book, 3 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 MEXC live order book, 3 min ago	0.42 bp	1.4 bp −$1	1.4 bp −$14	2.8 bp −$280	4.1 bp −$2,056
Sell Deribit live order book, 3 min ago	0.80 bp	4.3 bp −$4	5.3 bp −$53	18.3 bp −$1,830	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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	+0.118%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.75	−0.003%	$2.0M	$3.2M	13x	as long as short
ApeX Omni SOLUSDT	−0.0100%	1h	118.77	+0.019%	$1.5M	$6.2M	50x	as long as short
Vest SOL-PERP	−0.0081%	1h	118.81	+0.050%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.87	+0.104%	$843	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0052%	1h	118.91	+0.139%	$24K	$48K	20x	as long as short
dYdX SOL-USD	−0.0006%	1h	118.80	+0.042%	$4.9M	$26.8M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.86	+0.094%	$48K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.88	+0.109%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.87	+0.102%	$180K	$4.1M	8.3x	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-PERPETUALshort	0.0000%	1h	118.86	+0.096%	$26.7M	$27.7M	50x
Orderly PERP_SOL_USDC	+0.0058%	8h	118.84	+0.077%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.91	+0.135%	$105K	$153K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.80	+0.039%	$231.5M	$43.6M	75x	as long as short
Gate SOL_USDT	+0.0083%	8h	118.79	+0.034%	$857.8M	$676.5M	100x	as long as short
KuCoin SOLUSDTM	+0.0093%	8h	118.78	+0.025%	$143.8M	$196.9M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.77	+0.019%	$13.4M	$53.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.77	+0.013%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.81	+0.049%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.74	−0.011%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.78	+0.025%	$46K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.83	+0.068%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.86	+0.093%	$716.7M	$424.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.78	+0.027%	$179.1M	$173.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.78	+0.025%	$12.3M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.75	0.000%	$970.7M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.77	+0.016%	$821.1M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.73	−0.017%	$370.0M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.92	+0.143%	$233K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.82	+0.056%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.111%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDTlong	+0.0100%	8h	118.75	long leg	$466.3M	$1.07B	300x
Bitget SOLUSDT	+0.0100%	8h	118.73	−0.016%	$495.6M	$448.7M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.76	+0.007%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.81	+0.051%	$24.3M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	+0.089%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.79	+0.036%	$95.4M	$396.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.77	+0.015%	$48.6M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.96	+0.177%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.85	+0.084%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.83	+0.064%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.84	+0.077%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.80	+0.045%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.80	+0.042%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.82	+0.059%	$46.4M	$100.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.74	−0.009%	$8.6M	$37.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.87	+0.098%	$123K	$606K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.89	+0.116%	—	$218.3M	500x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.85	+0.084%	$8.1M	$413.7M	50x	as long as short
Phoenix SOL	+0.0154%	1h	118.99	+0.202%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.86	+0.089%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.80	+0.046%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.84	+0.077%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.81	+0.051%	$51.7M	$87.1M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.81	+0.053%	$36.1M	$89.9M	100x	as long as short