Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Binance against Phemex−0.059%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now −0.059%, 7d avg +0.004%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.062% cheaper against Phemex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.25	0.0100	pay 0.0100% / 8h	2h 42m	$45.3M	$103.7M	50x
Short	Binance SOLUSDT	116.18	0.0100	get 0.0100% / 8h	2h 42m	$968.9M	$3.85B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → +0.004%: −$6.24
Slippage, 4 orders: −$5.88
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$34.12
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Binance: live order book, 17 min ago.

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 Phemex live order book, 2 min ago	0.43 bp	6.4 bp −$6	6.7 bp −$67	15.2 bp −$1,517	doesn't fit
Sell Binance live order book, 17 min ago	0.43 bp	5.4 bp −$5	6.2 bp −$62	9.9 bp −$985	16.6 bp −$8,306

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	−0.0240%	1h	116.22	−0.026%	$31.5M	$103.2M	100x	as long as short
Hibachi SOL/USDT-P	−0.0224%	1h	116.27	+0.017%	$104K	$705K	20x	as long as short
Vest SOL-PERP	−0.0125%	1h	116.17	−0.068%	—	$625K	20x	as long as short
Bybit SOLUSDT	−0.0115%	8h	116.13	−0.103%	$742.4M	$1.41B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.23	−0.014%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0051%	1h	116.14	−0.098%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.24	−0.009%	$42K	—	150x	as long as short
01 Exchange SOLUSD	0.0000%	1h	116.18	−0.060%	$99K	$176K	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.34	+0.077%	$1.4M	$19.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.29	+0.031%	$112K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0016%	1h	116.24	−0.009%	$4.4M	$24.2M	20x	as long as short
Bullet SOL-USD	+0.0047%	1h	116.22	−0.026%	$147K	$1.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.23	−0.018%	$7.7M	$404.5M	50x	as long as short
Bitget SOLUSDT	+0.0073%	8h	116.15	−0.088%	$480.6M	$450.6M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0076%	1h	116.27	+0.019%	$26.2M	$22.9M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	116.22	−0.022%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.22	−0.023%	$13.0M	$60.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.22	−0.030%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.22	−0.030%	$349K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.16	−0.077%	$65K	$899K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	116.23	−0.019%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.16	−0.079%	$5.3M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.34	+0.077%	$698.5M	$394.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.21	−0.034%	$174.2M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.25	−0.002%	$15.7M	$130.3M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	116.18	−0.059%	$968.9M	$3.85B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.18	−0.060%	$365.5M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.17	−0.069%	$213K	$870K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.25	−0.003%	$916K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.24	−0.011%	$130.1M	$16.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.24	−0.009%	$849.1M	$660.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.21	−0.034%	$365.4M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.19	−0.048%	$123.7M	$227.7M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.19	−0.056%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.22	−0.026%	$22.9M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.26	+0.013%	$25.0M	$114.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.45	+0.176%	$93.5M	$403.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.31	+0.052%	$47.6M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.42	+0.151%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.37	+0.103%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.16	−0.077%	$320K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.23	−0.017%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.27	+0.018%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.21	−0.034%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.24	−0.006%	$225.2M	$48.5M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.25	long leg	$45.3M	$103.7M	50x
Extended SOL-USD	+0.0104%	1h	116.16	−0.082%	$8.1M	$38.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.29	+0.033%	—	$237.9M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.258%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.48	+0.198%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.15	−0.088%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.20	−0.043%	$51.9M	$67.4M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.23	−0.021%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.27	+0.017%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0597%	1h	116.40	+0.131%	$25K	$52K	20x	as long as short