Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0120%/8h= −13.2% APRpaid last 24h −0.039%

Price spread now: dYdX against Phemex+0.025%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now +0.025%, 7d avg +0.006%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	119.27	0.0100	pay 0.0100% / 8h	7h 14m	$46.7M	$99.6M	50x
Short	dYdX SOL-USD	119.30	−0.0020	pay 0.0003% / 1h	14m 51s	$4.9M	$25.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$25.25
Price spread: +0.025% → +0.006%: $1.86
Slippage, 4 orders: −$8.25
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$53.65
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; dYdX: live order book, 4 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, 4 min ago	0.42 bp	8.3 bp −$8	11.8 bp −$118	18.8 bp −$1,882	doesn't fit
Sell dYdX live order book, 4 min ago	0.84 bp	5.8 bp −$6	9.9 bp −$99	20.8 bp −$2,078	29.0 bp −$14.5K

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	119.23	−0.029%	$932	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	119.19	−0.069%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	119.19	−0.071%	$2.0M	$2.7M	13x	as long as short
dYdX SOL-USDshort	−0.0020%	1h	119.30	+0.025%	$4.9M	$25.8M	20x
Hibachi SOL/USDT-P	−0.0016%	1h	119.19	−0.067%	$101K	$650K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.28	+0.005%	$32.3M	$96.9M	100x	as long as short
HTX SOL-USDT	−0.0004%	8h	119.16	−0.091%	$231.8M	$44.1M	75x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.29	+0.020%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.30	+0.025%	$1.2M	$20.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.26	−0.008%	$155K	$3.8M	8.3x	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	119.29	+0.017%	$104K	$160K	20x	as long as short
Bluefin SOL-PERP	+0.0074%	1h	119.25	−0.013%	$37K	$17K	25x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.27	+0.001%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.26	−0.007%	$1.1M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.29	+0.015%	$8.1M	$410.7M	50x	as long as short
Gate SOL_USDT	+0.0092%	8h	119.29	+0.017%	$856.5M	$670.6M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.28	+0.012%	$14.1M	$56.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.28	+0.006%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.28	+0.007%	$350K	$261K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0096%	1h	119.32	+0.044%	$26.7M	$24.8M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.26	−0.009%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.21	−0.050%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.24	−0.025%	$6.3M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.40	+0.109%	$727.5M	$397.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.28	+0.008%	$180.2M	$176.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.27	−0.004%	$12.3M	$125.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.29	+0.017%	$982.2M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.32	+0.044%	$827.5M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.27	0.000%	$371.6M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.12	−0.126%	$233K	$833K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.17	−0.084%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.429%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.28	+0.008%	$433.4M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.30	+0.025%	$139.0M	$203.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.28	+0.010%	$494.7M	$439.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.29	+0.017%	$24.0M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.18	−0.078%	$24.9M	$130.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.97	−0.255%	$95.6M	$404.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.12	−0.127%	$48.8M	$29.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.04	−0.193%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.17	−0.084%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.27	0.000%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.27	−0.002%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.25	−0.015%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.27	0.000%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	119.27	long leg	$46.7M	$99.6M	50x
Extended SOL-USD	+0.0104%	1h	119.26	−0.005%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.10	−0.143%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.22	−0.040%	—	$218.8M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.23	−0.033%	$1.8M	$4.5M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	119.28	+0.010%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.218%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	119.26	−0.009%	$1.1M	$524K	25x	as long as short
Aftermath Perps SOLUSD	+0.0194%	1h	119.10	−0.145%	$25K	$50K	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.27	0.000%	$51.9M	$75.1M	125x	as long as short