Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:40 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.010%

Price spread now: Deribit against Perpl+0.007%7-day average +0.046% · you sell dearer than you buy

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

Long on Perpl Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$19 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now +0.007%, 7d avg +0.046%

Together, before fees+0.247%+ Points / potential airdropPerpl: Active · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.039% cheaper against Perpl than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.046%). If the spread goes back, that is −$4 on $10k: about 30 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	116.64	0	get 0.0000% / 43m	9m 43s	$106K	$3.5M	8.3x
Short	Deribit SOL_USDC-PERPETUAL	116.65	0.0104	get 0.0013% / 1h	3m 43s	$26.4M	$21.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.007%Rate

Funding earned: $21.88
Price spread: +0.007% → +0.046%: −$3.92
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$2.84
Costs to cover: 0.208%
Break-even: 7.9 days

Slippage unknown: Perpl: no order-book sample; Deribit: live order book, just now. 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 Deribit live order book, just now	0.09 bp	3.7 bp −$4	5.4 bp −$54	16.7 bp −$1,665	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
Hibachi SOL/USDT-P	−0.0208%	1h	116.77	+0.111%	$97K	$678K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.55	−0.075%	$738.4M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.75	+0.098%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.60	−0.035%	$32.3M	$106.1M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.51	−0.113%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0047%	1h	116.58	−0.053%	—	$634K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.61	−0.029%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.65	+0.007%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	116.64	long leg	$106K	$3.5M	8.3x
dYdX SOL-USD	+0.0016%	1h	116.64	−0.003%	$4.3M	$23.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0037%	8h	116.56	−0.070%	$480.6M	$459.2M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.62	−0.017%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.60	−0.038%	$8.0M	$402.4M	50x	as long as short
Lighter RH SOL	+0.0056%	1h	116.56	−0.069%	$2.2M	$17.0M	25x	as long as short
SoDEX SOL-USD	+0.0071%	1h	116.57	−0.060%	$6.1M	$11.0M	20x	as long as short
Aster SOLUSDT	+0.0073%	8h	116.56	−0.069%	$176.5M	$169.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0082%	8h	116.57	−0.063%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.56	−0.071%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.58	−0.056%	$13.2M	$61.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.56	−0.069%	$351K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.57	−0.060%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.56	−0.069%	$5.3M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.69	+0.043%	$701.4M	$408.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.62	−0.017%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.57	−0.060%	$966.1M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.58	−0.051%	$367.5M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.64	0.000%	$217K	$837K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.61	−0.030%	$899K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.077%	$125.4M	$26.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.58	−0.051%	$849.5M	$676.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.57	−0.060%	$369.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.57	−0.062%	$133.0M	$233.0M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.56	−0.065%	—	$373.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.59	−0.043%	$23.1M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.69	+0.047%	$25.1M	$110.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.57	−0.063%	$93.6M	$408.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.63	−0.009%	$47.7M	$29.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.65	+0.009%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.64	0.000%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.57	−0.060%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.58	−0.053%	$242K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.60	−0.031%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.58	−0.051%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.62	−0.019%	$225.8M	$50.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.62	−0.017%	$45.4M	$104.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.53	−0.098%	$8.0M	$38.0M	50x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0104%	1h	116.65	+0.007%	$26.4M	$21.7M	50x
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.64	+0.001%	—	$233.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.62	−0.017%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.73	+0.077%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.54	−0.084%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.63	−0.009%	$52.1M	$66.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.60	−0.037%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.65	+0.012%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0488%	1h	116.66	+0.021%	$25K	$57K	20x	as long as short