Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Phemex against OKX+0.300%53s7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.252% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.467%−$47 · spread now +0.300%, 7d avg +0.018%

Together, before fees−0.462%−$46 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: Phemex is 0.282% dearer against OKX than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.018%. The two prices were read 53 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	OKX SOL-USDT-SWAP	116.59	0.0100	pay 0.0100% / 8h	4h 28m	$369.7M	$1.68B	100x
Short	Phemex SOLUSDT	116.94	0.0100	get 0.0100% / 8h	4h 28m	$45.7M	$101.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now +0.300%Rate

Funding earned: $0
Price spread: +0.300% → +0.018%: $28.24
Slippage, 4 orders: −$3.18
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $3.05
Costs to cover: 0.252%
Break-even: from the start

Slippage from OKX: live order book, 6 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 OKX live order book, 6 min ago	0.43 bp	5.4 bp −$5	5.4 bp −$54	9.3 bp −$935	20.0 bp −$9,993
Sell Phemex live order book, 6 min ago	0.43 bp	7.9 bp −$8	8.1 bp −$81	16.4 bp −$1,635	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
Hibachi SOL/USDT-P	−0.0112%	1h	116.88	+0.253%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.67	+0.069%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.88	+0.249%	$914	$8K	25x	as long as short
Derive SOL-PERP	−0.0014%	1h	116.52	−0.061%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.62	+0.027%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.99	+0.342%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.71	+0.103%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.71	+0.103%	$99K	$171K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.99	+0.347%	$7.5M	$405.9M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.98	+0.338%	$31.1M	$100.3M	100x	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	+0.0082%	1h	116.64	+0.042%	$26.3M	$25.4M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.61	+0.016%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.70	+0.098%	$13.1M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.71	+0.102%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.59	+0.001%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.66	+0.060%	$51K	$868K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.79	+0.167%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.71	+0.107%	$5.4M	$39.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.76	+0.146%	$704.8M	$396.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.70	+0.092%	$174.9M	$182.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	+0.117%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.60	+0.006%	$968.3M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.55	−0.031%	$783.0M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAPlong	+0.0100%	8h	116.59	long leg	$369.7M	$1.68B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	116.65	+0.051%	$231K	$846K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.71	+0.105%	$927K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.120%	$133.2M	$20.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.67	+0.069%	$842.5M	$660.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.66	+0.060%	$390.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.66	+0.059%	$127.3M	$218.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.56	−0.025%	$479.1M	$441.4M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.63	+0.034%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.79	+0.172%	$23.1M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.77	+0.158%	$24.4M	$114.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.76	+0.142%	$93.7M	$398.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.89	+0.253%	$47.8M	$29.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.60	+0.009%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.92	+0.283%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.68	+0.077%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.66	+0.060%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.58	−0.006%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.59	+0.001%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.60	+0.009%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.92	+0.281%	$227.0M	$47.1M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.94	+0.300%	$45.7M	$101.8M	50x
Extended SOL-USD	+0.0104%	1h	116.63	+0.034%	$8.1M	$37.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.69	+0.082%	—	$231.1M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	−0.026%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.94	+0.300%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.67	+0.071%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.97	+0.326%	$51.9M	$71.4M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0236% / S −0.0180%	1h	116.63	+0.036%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.72	+0.113%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0528%	1h	116.74	+0.130%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.76	+0.145%	$1.9M	$4.9M	20x	as long as short