Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.042%

Price spread now: Jupiter Perps against Phemex−0.036%7-day average −0.006% · you buy dearer than you sell

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

Long on Phemex Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.135%−$14 on $10k

Price spread, last 3 days (all we have)+0.358%+$36 · spread now −0.036%, 7d avg −0.006%

Together, before fees+0.222%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Jupiter Perps is 0.031% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	119.11	0.0100	pay 0.0100% / 8h	2h 55m	$46.5M	$99.9M	50x
Short	Jupiter Perps SOL-PERP	119.07	L +0.0120% / S +0.0048%	pay 0.0006% / 1h	55m 03s	—	$217.6M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps 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 Jupiter PerpsbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$31.08
Price spread: −0.036% → −0.006%: −$3.07
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$58.15
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Jupiter Perps: no order-book sample. 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 Phemex live order book, 4 min ago	0.42 bp	7.2 bp −$7	11.0 bp −$110	18.8 bp −$1,875	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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	118.68	−0.361%	$4K	$2K	12x	as long as short
Aftermath Perps SOLUSD	−0.0084%	1h	119.05	−0.053%	$24K	$47K	20x	as long as short
Vest SOL-PERP	−0.0083%	1h	119.05	−0.049%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.04	−0.059%	$844	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	119.11	−0.004%	$2.0M	$3.2M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.19	+0.064%	$50K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.07	−0.035%	$4.9M	$26.8M	20x	as long as short
Perpl SOL	0.0000%	43m	119.11	−0.003%	$191K	$4.1M	8.3x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	119.19	+0.069%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	119.14	+0.025%	$104K	$152K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0070%	8h	119.04	−0.062%	$232.0M	$43.7M	75x	as long as short
Gate SOL_USDT	+0.0082%	8h	119.14	+0.025%	$859.6M	$673.3M	100x	as long as short
KuCoin SOLUSDTM	+0.0086%	8h	119.19	+0.068%	$145.5M	$197.3M	75x	as long as short
Lighter SOL	+0.0096%	1h	119.17	+0.047%	$13.5M	$52.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.17	+0.050%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.17	+0.050%	$354K	$746K	20x	as long as short
Bitget SOLUSDT	+0.0097%	8h	118.97	−0.118%	$496.5M	$451.4M	100x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	119.05	−0.046%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.12	+0.008%	$47K	$781K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.07	−0.037%	$5.6M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.22	+0.092%	$719.5M	$444.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.15	+0.034%	$179.9M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.09	−0.017%	$12.4M	$113.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.15	+0.034%	$978.3M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.14	+0.027%	$823.9M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.97	−0.118%	$369.9M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.97	−0.118%	$233K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.12	+0.011%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.09	−0.019%	$133.4M	$13.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.14	+0.025%	$473.2M	$1.07B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	119.14	+0.025%	—	$372.9M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.19	+0.067%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.07	−0.030%	$27.7M	$126.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.93	−0.151%	$95.5M	$395.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.07	−0.032%	$48.7M	$33.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.99	−0.101%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.06	−0.042%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.15	+0.034%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.15	+0.032%	$201K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.18	+0.060%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.04	−0.056%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.18	+0.059%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	119.11	long leg	$46.5M	$99.9M	50x
Deribit SOL_USDC-PERPETUAL	+0.0101%	1h	119.25	+0.121%	$26.8M	$27.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.96	−0.126%	$8.7M	$37.3M	50x	as long as short
Kalshi KXSOLPERP	+0.0104%	8h	119.14	+0.024%	$1.2M	$20.9M	3.1x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.23	+0.100%	$8.1M	$415.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	119.02	−0.073%	$123K	$621K	20x	as long as short
Jupiter Perps SOL-PERPshort	L +0.0120% / S +0.0048%	1h	119.07	−0.036%	—	$217.6M	500x
Phoenix SOL	+0.0149%	1h	119.15	+0.034%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.12	+0.010%	$1.6M	$6.2M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.15	+0.032%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.18	+0.059%	$52.0M	$91.2M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.20	+0.072%	$36.1M	$89.9M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0174%	1h	119.18	+0.059%	$3.6M	—	200x	as long as short