Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Backpack against Pacifica+0.166%7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Pacifica Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days−0.895%−$90 · spread now +0.166%, 7d avg +0.077%

Together, before fees−0.812%+ Points / potential airdropPacifica: Active · farm board−$81 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 0.089% dearer against Pacifica than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica SOL	119.15	0.0100	pay 0.0013% / 1h	24m 51s	$12.3M	$117.8M	20x
Short	Backpack SOL_USDC_PERP	119.35	0.0100	get 0.0013% / 1h	24m 51s	$24.2M	$38.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.166%Rate

Funding earned: $0
Price spread: +0.166% → +0.077%: $8.94
Slippage, 4 orders: −$2.6
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$11.66
Costs to cover: 0.206%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; Backpack: live order book, 4 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 Pacifica live order book, 4 min ago	0.42 bp	4.4 bp −$4	5.0 bp −$50	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.42 bp	5.4 bp −$5	6.6 bp −$66	8.4 bp −$844	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
Bluefin SOL-PERP	−0.0535%	1h	119.29	+0.113%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0107%	1h	119.24	+0.075%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.13	−0.017%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0062%	1h	119.20	+0.039%	—	$722K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0005% / S +0.0004%	1h	119.36	+0.174%	$106K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.35	+0.170%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.19	+0.028%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.26	+0.090%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	119.27	+0.102%	$119K	$611K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.18	+0.023%	$6.5M	$13.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SOLUSD	+0.0064%	1h	119.30	+0.127%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0067%	8h	119.34	+0.159%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	119.28	+0.107%	$104K	$154K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.35	+0.169%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0082%	8h	119.21	+0.050%	$232.1M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0088%	8h	119.35	+0.166%	$871.8M	$684.1M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.40	+0.208%	$13.6M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.38	+0.191%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.29	+0.116%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.07	−0.071%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.15	−0.002%	$47K	$796K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.27	+0.095%	$6.2M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.46	+0.258%	$719.4M	$416.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.40	+0.208%	$178.7M	$176.9M	100x	as long as short
Pacifica SOLlong	+0.0100%	1h	119.15	long leg	$12.3M	$117.8M	20x
Binance SOLUSDT	+0.0100%	8h	119.40	+0.210%	$987.3M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.40	+0.207%	$825.4M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.34	+0.158%	$371.8M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.31	+0.133%	$234K	$886K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.25	+0.080%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.16	+0.003%	$133.7M	$8.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.36	+0.175%	$454.1M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.37	+0.185%	$140.7M	$201.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.39	+0.198%	$496.1M	$455.9M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	119.35	+0.166%	$24.2M	$38.5M	50x
Variational Omni SOL	+0.0100%	8h	119.27	+0.099%	$27.9M	$128.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.21	+0.049%	$95.7M	$400.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.31	+0.130%	$48.8M	$31.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.25	+0.085%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.28	+0.107%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.28	+0.107%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.30	+0.124%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.35	+0.164%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.34	+0.158%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.33	+0.149%	$46.6M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.34	+0.160%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.38	+0.190%	$8.2M	$416.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.14	−0.006%	—	$223.4M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.35	+0.168%	$32.6M	$95.8M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0165%	1h	119.40	+0.211%	$26.7M	$27.7M	50x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0068%	1h	119.35	+0.163%	$3.8M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.26	+0.091%	$1.1M	$557K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.25	+0.078%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.191%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.33	+0.149%	$52.5M	$82.9M	125x	as long as short