Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:48 UTC−0.0347%/8h= −37.9% APRpaid last 24h +0.010%

Price spread now: Gate against Perpl−0.065%45s7-day average +0.018% · you buy dearer than you sell

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

Long on Perpl Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.205%+$20 on $10k

Price spread, last 7 days+0.045%+$4 · spread now −0.065%, 7d avg +0.018%

Together, before fees+0.250%+ Points / potential airdropPerpl: Active · farm board+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Gate is 0.083% cheaper against Perpl than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.018%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.205%, so the current rate has only just turned against you. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.205% in total (about 10.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	116.90	0.0447	pay 0.0040% / 43m	31m 36s	$139K	$3.7M	8.3x
Short	Gate SOL_USDT	116.82	0.0100	get 0.0100% / 8h	3h 34m	$852.9M	$661.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.065%Rate

Funding earned: −$72.77
Price spread: −0.065% → +0.018%: −$8.34
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$109.91
Costs to cover: 0.288%
Break-even: never at this rate

Slippage unknown: Perpl: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	0.43 bp	7.9 bp −$8	10.2 bp −$102	14.6 bp −$1,456	28.2 bp −$14.1K

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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.90	−0.001%	$31.1M	$101.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0152%	1h	116.83	−0.056%	$103K	$699K	20x	as long as short
Vest SOL-PERP	−0.0087%	1h	116.74	−0.130%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.91	+0.015%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.92	+0.019%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.93	+0.027%	$1.5M	$19.0M	3.1x	as long as short
dYdX SOL-USD	+0.0007%	1h	116.87	−0.022%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0011%	1h	116.85	−0.038%	$1.9M	$2.9M	13x	as long as short
Bybit SOLUSDT	+0.0040%	8h	116.72	−0.154%	$764.7M	$1.38B	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.91	+0.014%	$7.6M	$405.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0080%	1h	116.79	−0.091%	$99K	$174K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.92	+0.021%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.85	−0.037%	$13.1M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.83	−0.059%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.92	+0.022%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.77	−0.108%	$61K	$893K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.84	−0.045%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.78	−0.101%	$5.5M	$40.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.96	+0.052%	$706.0M	$394.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.84	−0.046%	$175.0M	$183.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.87	−0.026%	$15.8M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.78	−0.098%	$974.9M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.76	−0.116%	$366.9M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.88	−0.014%	$229K	$846K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.83	−0.056%	$922K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.05	+0.131%	$134.1M	$22.4M	20x	as long as short
Gate SOL_USDTshort	+0.0100%	8h	116.82	−0.065%	$852.9M	$661.7M	100x
MEXC SOL_USDT	+0.0100%	8h	116.81	−0.074%	$366.7M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.82	−0.065%	$129.2M	$223.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.74	−0.137%	$481.8M	$445.5M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.79	−0.088%	—	$366.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.89	−0.005%	$23.1M	$39.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.73	−0.138%	$24.5M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.91	+0.008%	$93.9M	$399.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.75	−0.125%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.97	+0.066%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.88	−0.014%	$1.3M	$12.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.75	−0.125%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.91	+0.011%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.91	+0.010%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.85	−0.038%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.89	−0.005%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.87	−0.024%	$226.5M	$48.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.91	+0.012%	$45.8M	$103.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.76	−0.113%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.99	+0.080%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.86	−0.035%	—	$231.5M	500x	as long as short
Phoenix SOL	+0.0151%	1h	117.04	+0.123%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0156%	1h	116.94	+0.036%	$26.4M	$23.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.72	−0.147%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.90	+0.003%	$52.1M	$67.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.92	+0.018%	$3.6M	—	200x	as long as short
Perpl SOLlong	+0.0447%	43m	116.90	long leg	$139K	$3.7M	8.3x
Aftermath Perps SOLUSD	+0.0521%	1h	116.94	+0.037%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.86	−0.027%	$1.9M	$4.8M	20x	as long as short