Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:36 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.077%

Price spread now: Bluefin against Perpl+0.024%7-day average — · you sell dearer than you buy

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

Long on Perpl Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.333%−$33 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bluefin is 0.024% dearer against Perpl than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.333%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	118.94	0	get 0.0000% / 43m	34m 54s	$180K	$4.1M	8.3x
Short	Bluefin SOL-PERP	118.97	0.0100	get 0.0013% / 1h	47m 54s	$37K	$15K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Perpl. 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 PerplbpFee BluefinbpOrdersPrice spread, now +0.024%Rate

Funding earned: $21
Price spread: +0.024% → 0.000%: $2.44
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $2.64
Costs to cover: 0.208%
Break-even: 6.1 days

Slippage unknown: Perpl: no order-book sample; Bluefin: 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 Perpl no order-book sample	—	—	—	—	—
Sell Bluefin no order-book sample	—	—	—	—	—

Perpl and Bluefin: 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	−0.040%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.89	−0.044%	$2.0M	$3.2M	13x	as long as short
ApeX Omni SOLUSDT	−0.0100%	1h	118.77	−0.139%	$1.5M	$6.2M	50x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.86	−0.066%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.75	−0.160%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0059%	1h	118.94	+0.002%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.98	+0.032%	$48K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.98	+0.035%	$4.9M	$26.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.87	−0.061%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	118.94	long leg	$180K	$4.1M	8.3x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0026%	1h	119.02	+0.072%	$26.7M	$27.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0057%	8h	118.97	+0.023%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.97	+0.027%	$105K	$152K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.91	−0.023%	$231.7M	$43.6M	75x	as long as short
Gate SOL_USDT	+0.0084%	8h	118.92	−0.015%	$858.8M	$675.8M	100x	as long as short
KuCoin SOLUSDTM	+0.0092%	8h	118.94	−0.002%	$144.2M	$197.6M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.96	+0.019%	$13.5M	$53.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.95	+0.012%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.99	+0.046%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.93	−0.005%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.95	+0.010%	$46K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.98	+0.035%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.03	+0.077%	$717.8M	$424.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.94	−0.002%	$179.4M	$174.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.98	+0.039%	$12.4M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.94	+0.005%	$972.3M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.97	+0.027%	$822.5M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.94	+0.002%	$368.7M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.69	−0.209%	$233K	$864K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.01	+0.057%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	−0.047%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.94	+0.002%	$467.6M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.91	−0.028%	$496.3M	$449.1M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.94	+0.001%	—	$372.1M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.98	+0.035%	$24.3M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	−0.069%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	−0.024%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.87	−0.058%	$48.7M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	−0.116%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.95	+0.010%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.93	−0.005%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERPshort	+0.0100%	1h	118.97	+0.024%	$37K	$15K	25x
SunX SOL-USDT	+0.0100%	8h	118.93	−0.010%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.96	+0.018%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.92	−0.015%	$46.4M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.91	−0.021%	$8.6M	$37.3M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.81	−0.111%	$123K	$606K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.98	+0.034%	—	$218.8M	500x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.01	+0.064%	$8.1M	$414.3M	50x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.052%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.98	+0.036%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.94	+0.006%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.72	−0.183%	$51.6M	$89.3M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.98	+0.037%	$36.1M	$90.2M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.97	+0.024%	$3.5M	—	200x	as long as short