Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:20 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.042%

Price spread now: Bullet against Perpl−0.020%7-day average +0.043% · you buy dearer than you sell

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

Long on Perpl Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.190%+$19 on $10k

Price spread, last 7 days−0.004%$0 · spread now −0.020%, 7d avg +0.043%

Together, before fees+0.187%+ Points / potential airdropPerpl: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.063% cheaper against Perpl than usual: you would sell low and buy high (spread −0.020% now, against its 7-day average of +0.043%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.190% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	119.47	0	get 0.0000% / 43m	2m 55s	$179K	$4.0M	8.3x
Short	Bullet SOL-USD	119.45	0.0100	get 0.0013% / 1h	15m 55s	$201K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.020%Rate

Funding earned: $21
Price spread: −0.020% → +0.043%: −$6.35
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$7.15
Costs to cover: 0.218%
Break-even: 9.4 days

Slippage unknown: Perpl: no order-book sample; Bullet: live order book, 3 min ago. 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 Bullet live order book, 3 min ago	0.25 bp	5.7 bp −$6	9.3 bp −$93	doesn't fit	doesn't fit

Perpl: 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	119.15	−0.270%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.49	+0.017%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0073%	1h	119.45	−0.019%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.41	−0.050%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.57	+0.084%	$5.0M	$27.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.45	−0.015%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.50	+0.024%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	119.47	long leg	$179K	$4.0M	8.3x
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.52	+0.035%	$26.8M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0027%	1h	119.62	+0.122%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0051%	8h	119.44	−0.024%	$232.7M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.51	+0.028%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.66	+0.160%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.52	+0.039%	$105K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.45	−0.017%	—	$373.9M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.45	−0.019%	$872.2M	$687.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.45	−0.016%	$13.6M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.45	−0.020%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.47	0.000%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.48	+0.003%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.51	+0.031%	$49K	$784K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.52	+0.039%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.54	+0.057%	$721.8M	$414.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.43	−0.035%	$179.8M	$175.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.54	+0.053%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.42	−0.044%	$979.0M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.43	−0.036%	$825.9M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.40	−0.061%	$371.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.48	+0.006%	$235K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.56	+0.072%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.155%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.42	−0.044%	$430.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.42	−0.041%	$141.0M	$197.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.40	−0.059%	$498.8M	$452.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.45	−0.019%	$24.3M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.82	+0.289%	$27.5M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.86	+0.324%	$96.3M	$401.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.72	+0.209%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.75	+0.228%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.80	+0.274%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.46	−0.011%	$366K	$2.4M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	119.45	−0.020%	$201K	$1.7M	20x
Bluefin SOL-PERP	+0.0100%	1h	119.49	+0.018%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.45	−0.023%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.45	−0.019%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.49	+0.014%	$46.7M	$101.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.40	−0.065%	$8.8M	$36.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.50	+0.023%	$8.2M	$417.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.50	+0.021%	—	$221.2M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.75	+0.232%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.45	−0.019%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.53	+0.046%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.44	−0.031%	$1.1M	$562K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.57	+0.081%	$51.7M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.49	+0.016%	$35.6M	$91.2M	100x	as long as short