Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:57 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.018%

Price spread now: Variational Omni against Perpl−0.093%7-day average +0.031% · you buy dearer than you sell

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

Long on Perpl Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.193%+$19 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.093%, 7d avg +0.031%

Together, before fees+0.269%+ Points / potential airdropPerpl: Active · Variational Omni: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.124% cheaper against Perpl than usual: you would sell low and buy high (spread −0.093% now, against its 7-day average of +0.031%). If the spread goes back, that is −$12 on $10k: about 4.1 days 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	116.97	0	get 0.0000% / 43m	23m 51s	$110K	$3.7M	8.3x
Short	Variational Omni SOL	116.86	0.0100	get 0.0100% / 8h	2h 00m	$24.7M	$113.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Perpl. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.093%Rate

Funding earned: $21
Price spread: −0.093% → +0.031%: −$12.35
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$5.15
Costs to cover: 0.138%
Break-even: 8.7 days

Slippage unknown: Perpl: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 3 min ago	1.24 bp	doesn't fit	1.8 bp −$18	8.8 bp −$876	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
Kraken Futures PF_SOLUSD	−0.0239%	1h	116.95	−0.020%	$33.0M	$104.1M	100x	as long as short
Bybit SOLUSDT	−0.0105%	8h	116.83	−0.121%	$741.1M	$1.44B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.11	+0.118%	$1K	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0080%	1h	117.02	+0.040%	$102K	$689K	20x	as long as short
Vest SOL-PERP	−0.0032%	1h	116.91	−0.051%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0010%	1h	116.86	−0.097%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.93	−0.036%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.98	+0.009%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	116.97	long leg	$110K	$3.7M	8.3x
dYdX SOL-USD	+0.0008%	1h	116.96	−0.010%	$4.3M	$23.8M	20x	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	+0.0032%	1h	116.95	−0.019%	$101K	$179K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.95	−0.015%	$8.0M	$407.7M	50x	as long as short
Bitget SOLUSDT	+0.0059%	8h	116.85	−0.103%	$481.7M	$462.2M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.92	−0.044%	$1.0M	$6.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.92	−0.045%	$13.1M	$61.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.90	−0.060%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.91	−0.050%	$352K	$247K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	116.91	−0.057%	$1.0M	$551K	50x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.89	−0.070%	$62K	$911K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.90	−0.060%	$5.5M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.96	−0.010%	$701.0M	$408.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.85	−0.102%	$176.1M	$176.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.96	−0.009%	$15.8M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.86	−0.095%	$970.7M	$3.90B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.84	−0.113%	$372.0M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.99	+0.015%	$219K	$883K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.93	−0.034%	$908K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.05	+0.065%	$126.2M	$23.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.88	−0.079%	$846.0M	$677.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.91	−0.053%	$364.8M	$1.09B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.92	−0.049%	$129.0M	$231.7M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.84	−0.109%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.92	−0.044%	$23.1M	$38.2M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	116.86	−0.093%	$24.7M	$113.0M	—
edgeX SOLUSDC	+0.0100%	4h	116.98	+0.007%	$93.9M	$411.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.04	+0.059%	$47.9M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.13	+0.132%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.04	+0.058%	$1.3M	$12.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.90	−0.062%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.94	−0.026%	$236K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.91	−0.053%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.91	−0.056%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.91	−0.053%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.91	−0.051%	$226.4M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.91	−0.053%	$45.5M	$105.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.87	−0.091%	$8.1M	$39.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.99	+0.016%	—	$238.5M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0172%	1h	117.00	+0.023%	$26.5M	$22.1M	50x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	117.09	+0.101%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	117.18	+0.178%	$6.6M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.87	−0.083%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.90	−0.062%	$52.0M	$68.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.93	−0.035%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0492%	1h	117.01	+0.032%	$25K	$56K	20x	as long as short
RISEx SOL/USDC	+0.0547%	1h	117.00	+0.022%	$2.1M	$4.9M	20x	as long as short