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% APRpaid last 24h +0.003%

Price spread now: Ondo Perps against Phemex−0.034%7-day average −0.028% · you buy dearer than you sell

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

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now −0.034%, 7d avg −0.028%

Together, before fees+0.129%+ Points / potential airdropOndo Perps: Active · farm board+$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.69	0.0100	pay 0.0100% / 8h	44m 22s	$45.4M	$104.6M	50x
Short	Ondo Perps SOL-USD.P	116.65	0.0100	get 0.0013% / 1h	44m 22s	$217K	$832K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo 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 Ondo PerpsbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → −0.028%: −$0.59
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.59
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 5 min ago; Ondo 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, 5 min ago	0.43 bp	8.4 bp −$8	9.0 bp −$90	16.6 bp −$1,656	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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
Hibachi SOL/USDT-P	−0.0168%	1h	116.76	+0.058%	$96K	$681K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0153%	1h	116.73	+0.035%	$32.3M	$106.0M	100x	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.70	+0.013%	$737.4M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.67	−0.015%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0080%	1h	116.68	−0.005%	$1.9M	$3.0M	13x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.85	+0.137%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0047%	1h	116.69	−0.001%	—	$631K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.75	+0.051%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.73	+0.032%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.72	+0.021%	$106K	$3.5M	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	+0.0009%	1h	116.76	+0.060%	$4.3M	$23.6M	20x	as long as short
Lighter RH SOL	+0.0016%	1h	116.67	−0.019%	$2.2M	$16.7M	25x	as long as short
Bitget SOLUSDT	+0.0028%	8h	116.71	+0.016%	$481.6M	$457.8M	100x	as long as short
SoDEX SOL-USD	+0.0034%	1h	116.69	0.000%	$6.1M	$11.0M	20x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.74	+0.043%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.71	+0.016%	$8.0M	$401.9M	50x	as long as short
Aster SOLUSDT	+0.0062%	8h	116.71	+0.017%	$177.1M	$168.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0076%	8h	116.71	+0.020%	$1.0M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0094%	1h	116.78	+0.074%	$26.5M	$21.9M	50x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.68	−0.007%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.69	−0.003%	$13.2M	$60.4M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.70	+0.012%	$352K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.68	−0.009%	$66K	$909K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.66	−0.025%	$5.4M	$41.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.82	+0.111%	$704.3M	$408.1M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	+0.035%	$15.7M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.73	+0.034%	$966.3M	$3.86B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.73	+0.034%	$368.6M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.Pshort	+0.0100%	1h	116.65	−0.034%	$217K	$832K	10x
Arcus SOL-USD	+0.0100%	1h	116.70	+0.009%	$901K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.119%	$125.5M	$25.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.71	+0.017%	$850.4M	$659.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.70	+0.009%	$367.8M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.70	+0.010%	$132.3M	$233.6M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.73	+0.031%	—	$373.9M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.73	+0.034%	$23.1M	$35.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.71	+0.019%	$25.0M	$108.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.73	+0.030%	$93.7M	$406.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.70	+0.009%	$47.8M	$29.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.70	+0.006%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.68	−0.009%	$1.3M	$11.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.71	+0.017%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.73	+0.033%	$243K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.71	+0.021%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.69	+0.003%	$190K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.64	−0.042%	$225.8M	$50.6M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.69	long leg	$45.4M	$104.6M	50x
Extended SOL-USD	+0.0104%	1h	116.69	−0.004%	$8.2M	$37.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.71	+0.017%	—	$233.7M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.80	+0.094%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.67	−0.016%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.67	−0.017%	$52.1M	$66.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.74	+0.045%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.80	+0.091%	$2.1M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0485%	1h	116.74	+0.042%	$25K	$57K	20x	as long as short