Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:36 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.041%

Price spread now: Paradex against Perpl−0.070%45s7-day average −0.003% · you buy dearer than you sell

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

Long on Perpl Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.195%+$19 on $10k

Price spread, last 4 days (all we have)−0.663%−$66 · spread now −0.070%, 7d avg −0.003%

Together, before fees−0.468%+ Points / potential airdropPerpl: Active · Paradex: Active · farm board−$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paradex is 0.067% cheaper against Perpl than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.003%). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	118.93	0	get 0.0000% / 43m	33m 34s	$180K	$4.1M	8.3x
Short	Paradex SOL-USD-PERP	118.85	0.0099	get 0.0099% / 8h	2h 46m	$1.0M	$525K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.070%Rate

Funding earned: $20.72
Price spread: −0.070% → −0.003%: −$6.7
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$3.78
Costs to cover: 0.178%
Break-even: 8.3 days

Slippage unknown: Perpl: no order-book sample; Paradex: 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 Paradex live order book, 3 min ago	1.68 bp	3.7 bp −$4	9.4 bp −$94	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	118.89	−0.037%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.76	−0.146%	$2.0M	$3.2M	13x	as long as short
ApeX Omni SOLUSDT	−0.0100%	1h	118.77	−0.135%	$1.5M	$6.2M	50x	as long as short
Vest SOL-PERP	−0.0081%	1h	118.83	−0.091%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.87	−0.050%	$843	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0056%	1h	118.93	−0.007%	$24K	$48K	20x	as long as short
dYdX SOL-USD	−0.0006%	1h	118.86	−0.062%	$4.9M	$26.8M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.86	−0.066%	$48K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.96	+0.024%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	118.93	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	0.0000%	1h	118.88	−0.046%	$26.7M	$27.7M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0058%	8h	118.86	−0.066%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.91	−0.020%	$105K	$153K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.78	−0.133%	$231.5M	$43.6M	75x	as long as short
Gate SOL_USDT	+0.0083%	8h	118.87	−0.054%	$858.2M	$676.3M	100x	as long as short
KuCoin SOLUSDTM	+0.0092%	8h	118.85	−0.071%	$144.0M	$197.3M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.83	−0.086%	$13.4M	$53.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.84	−0.077%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.84	−0.082%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0099%	8h	118.85	−0.070%	$1.0M	$525K	50x
Katana Perps SOL-USD	+0.0100%	8h	118.90	−0.029%	$46K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.90	−0.028%	$5.5M	$40.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.93	−0.003%	$717.2M	$424.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.87	−0.054%	$179.2M	$173.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.87	−0.057%	$12.4M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.86	−0.062%	$971.6M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.88	−0.044%	$822.3M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.83	−0.087%	$370.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.92	−0.012%	$233K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.93	−0.005%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	−0.044%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.87	−0.054%	$466.0M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.86	−0.061%	$496.1M	$448.8M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.87	−0.055%	—	$372.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.84	−0.079%	$24.3M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	−0.066%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.79	−0.119%	$95.4M	$396.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.77	−0.139%	$48.6M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.96	+0.022%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.86	−0.062%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.82	−0.095%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.85	−0.073%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.90	−0.032%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.80	−0.113%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.78	−0.129%	$46.3M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.86	−0.066%	$8.6M	$37.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.81	−0.108%	$123K	$606K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.92	−0.012%	—	$218.6M	500x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.86	−0.061%	$8.1M	$413.7M	50x	as long as short
Phoenix SOL	+0.0154%	1h	118.99	+0.047%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.84	−0.078%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.92	−0.008%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.86	−0.063%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.81	−0.104%	$51.7M	$87.1M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.81	−0.106%	$36.1M	$90.1M	100x	as long as short