Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Bullet against Phemex+0.029%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Phemex Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.110%+$11 · spread now +0.029%, 7d avg −0.009%

Together, before fees+0.111%+$11 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: Bullet is 0.038% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	119.47	0.0100	pay 0.0100% / 8h	57m 14s	$46.7M	$102.2M	50x
Short	Bullet SOL-USD	119.50	0.0100	get 0.0013% / 1h	57m 14s	$203K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.009%: $3.84
Slippage, 4 orders: −$8.78
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$24.94
Costs to cover: 0.288%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Bullet: live order book, 2 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	0.42 bp	10.3 bp −$10	15.7 bp −$157	25.5 bp −$2,550	doesn't fit
Sell Bullet live order book, 2 min ago	0.13 bp	6.8 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit

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
Hotstuff SOL-PERP	−0.0080%	1h	119.45	−0.018%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.46	−0.004%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.44	−0.029%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.52	+0.042%	$115K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.48	+0.012%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.54	+0.060%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.50	+0.023%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.58	+0.092%	$6.6M	$13.7M	25x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.53	+0.050%	$104K	$157K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	119.52	+0.042%	$1.1M	$5.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SOL-USDC	+0.0080%	8h	119.48	+0.011%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0083%	8h	119.48	+0.006%	$232.6M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0086%	8h	119.52	+0.042%	$870.5M	$671.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0088%	1h	119.58	+0.094%	$26.7M	$26.1M	50x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	119.49	+0.013%	$118K	$608K	20x	as long as short
Aftermath Perps SOLUSD	+0.0090%	1h	119.35	−0.101%	$24K	$47K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.51	+0.036%	$13.6M	$55.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.50	+0.025%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.48	+0.010%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.55	+0.068%	$8.3M	$418.1M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.45	−0.019%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.47	0.000%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.46	−0.009%	$6.1M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.62	+0.126%	$722.1M	$411.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.52	+0.038%	$179.0M	$175.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.49	+0.013%	$12.3M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.52	+0.044%	$984.5M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.53	+0.052%	$831.1M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.51	+0.033%	$372.8M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.48	+0.008%	$233K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.53	+0.048%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.35	−0.100%	$133.8M	$7.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.54	+0.059%	$451.6M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.53	+0.046%	$140.1M	$203.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.52	+0.040%	$497.7M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.46	−0.008%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	−0.177%	$27.3M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.37	−0.081%	$95.9M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.37	−0.080%	$48.8M	$31.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.36	−0.095%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.53	+0.050%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.54	+0.059%	$371K	$2.4M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	119.50	+0.029%	$203K	$1.7M	20x
Bluefin SOL-PERP	+0.0100%	1h	119.51	+0.037%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.45	−0.013%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.52	+0.042%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	119.47	long leg	$46.7M	$102.2M	50x
Extended SOL-USD	+0.0104%	1h	119.48	+0.009%	$8.7M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	119.53	+0.052%	$32.7M	$96.9M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.55	+0.065%	—	$224.3M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0070%	1h	119.52	+0.041%	$3.8M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.02	−0.377%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.51	+0.037%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.50	+0.025%	$52.1M	$84.2M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.53	+0.054%	$1.7M	$5.3M	20x	as long as short