Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Phemex against Pacifica−0.212%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.118%+$12 · spread now −0.212%, 7d avg −0.027%

Together, before fees+0.112%+ Points / potential airdropPacifica: Active · farm board+$11 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 0.185% cheaper against Pacifica than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica SOL	116.17	0.0100	pay 0.0013% / 1h	40m 51s	$15.7M	$130.3M	20x
Short	Phemex SOLUSDT	115.92	0.0100	get 0.0100% / 8h	2h 40m	$45.1M	$103.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.212%Rate

Funding earned: $0
Price spread: −0.212% → −0.027%: −$18.52
Slippage, 4 orders: −$6.77
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$45.29
Costs to cover: 0.268%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; Phemex: 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 Pacifica live order book, 3 min ago	0.43 bp	4.4 bp −$4	6.0 bp −$60	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.43 bp	10.6 bp −$11	11.5 bp −$115	17.3 bp −$1,728	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
Kraken Futures PF_SOLUSD	−0.0241%	1h	116.03	−0.116%	$31.6M	$103.5M	100x	as long as short
Hibachi SOL/USDT-P	−0.0224%	1h	116.22	+0.044%	$104K	$705K	20x	as long as short
Vest SOL-PERP	−0.0123%	1h	116.09	−0.064%	—	$625K	20x	as long as short
Bybit SOLUSDT	−0.0115%	8h	115.73	−0.373%	$740.2M	$1.41B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.22	+0.050%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0051%	1h	115.94	−0.197%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.04	−0.110%	$42K	—	150x	as long as short
01 Exchange SOLUSD	0.0000%	1h	116.09	−0.066%	$99K	$176K	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.95	−0.187%	$1.5M	$19.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.10	−0.055%	$112K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0015%	1h	116.17	+0.005%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.03	−0.114%	$7.7M	$403.9M	50x	as long as short
Bullet SOL-USD	+0.0049%	1h	116.04	−0.110%	$147K	$1.6M	20x	as long as short
Bitget SOLUSDT	+0.0072%	8h	115.74	−0.364%	$480.6M	$452.7M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	116.04	−0.108%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.93	−0.200%	$13.0M	$60.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.93	−0.200%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.02	−0.124%	$349K	$247K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0096%	1h	116.09	−0.065%	$26.2M	$22.6M	50x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.05	−0.100%	$65K	$899K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.13	−0.030%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.07	−0.080%	$5.3M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.90	−0.229%	$691.2M	$397.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	115.76	−0.348%	$173.5M	$183.5M	100x	as long as short
Pacifica SOLlong	+0.0100%	1h	116.17	long leg	$15.7M	$130.3M	20x
Binance SOLUSDT	+0.0100%	8h	115.78	−0.333%	$965.6M	$3.86B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.78	−0.333%	$359.9M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.07	−0.083%	$213K	$869K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.13	−0.035%	$915K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.24	+0.061%	$130.1M	$16.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.77	−0.341%	$843.6M	$661.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.77	−0.341%	$365.0M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.75	−0.355%	$123.1M	$227.9M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	115.72	−0.382%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.82	−0.298%	$22.8M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.96	−0.181%	$25.0M	$114.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.27	+0.090%	$93.3M	$402.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.31	+0.124%	$47.6M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.31	+0.124%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.21	+0.038%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.08	−0.074%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.02	−0.124%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.08	−0.072%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.02	−0.126%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.87	−0.252%	$224.8M	$49.3M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	115.92	−0.212%	$45.1M	$103.6M	50x
Extended SOL-USD	+0.0104%	1h	115.69	−0.410%	$8.0M	$38.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.10	−0.056%	—	$238.1M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.330%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.27	+0.089%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	116.06	−0.089%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.81	−0.307%	$51.7M	$67.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.05	−0.101%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.15	−0.014%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0596%	1h	116.34	+0.145%	$25K	$52K	20x	as long as short