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 0.000%

Price spread now: Paradex against Phemex+0.051%7-day average +0.002% · 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−$17as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on Phemex Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now +0.051%, 7d avg +0.002%

Together, before fees+0.130%+ Points / potential airdropParadex: Active · farm board+$13 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: Paradex is 0.049% dearer against Phemex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.40	0.0100	pay 0.0100% / 8h	3h 09m	$45.3M	$103.2M	50x
Short	Paradex SOL-USD-PERP	116.46	0.0100	get 0.0100% / 8h	3h 09m	$1.0M	$551K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$0.01
Price spread: +0.051% → +0.002%: $4.89
Slippage, 4 orders: −$6.2
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$17.32
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Paradex: live order book, 5 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, 5 min ago	0.43 bp	7.2 bp −$7	8.1 bp −$81	14.6 bp −$1,460	doesn't fit
Sell Paradex live order book, 5 min ago	1.93 bp	3.9 bp −$4	9.6 bp −$96	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
Hibachi SOL/USDT-P	−0.0208%	1h	116.43	+0.025%	$104K	$703K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.42	+0.016%	$31.4M	$102.3M	100x	as long as short
Vest SOL-PERP	−0.0106%	1h	116.33	−0.057%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.41	+0.007%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0069%	8h	116.27	−0.112%	$749.2M	$1.40B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.31	−0.074%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.38	−0.017%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.40	+0.004%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0010%	1h	116.43	+0.026%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.42	+0.017%	$7.6M	$404.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0062%	1h	116.35	−0.040%	$147K	$1.6M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.38	−0.017%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0089%	8h	116.35	−0.041%	$480.2M	$447.0M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.39	−0.007%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.44	+0.036%	$13.1M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.41	+0.010%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.38	−0.013%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.36	−0.034%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0100%	8h	116.46	+0.051%	$1.0M	$551K	50x
Nado SOL-PERP	+0.0100%	1h	116.42	+0.021%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.52	+0.103%	$701.8M	$394.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.35	−0.040%	$174.3M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.45	+0.040%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.37	−0.025%	$970.1M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.34	−0.052%	$367.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.026%	$224K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.42	+0.014%	$920K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.46	+0.052%	$132.4M	$15.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.44	+0.034%	$855.2M	$668.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.39	−0.009%	$368.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.42	+0.019%	$128.7M	$224.3M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.39	−0.006%	—	$365.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.39	−0.009%	$23.0M	$40.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.28	−0.100%	$25.0M	$114.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.48	+0.068%	$93.5M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.47	+0.060%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.54	+0.117%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.40	0.000%	$1.3M	$12.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.36	−0.034%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.38	−0.019%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.36	−0.030%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.39	−0.009%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.35	−0.046%	$225.4M	$48.2M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.40	long leg	$45.3M	$103.2M	50x
Extended SOL-USD	+0.0104%	1h	116.32	−0.065%	$8.3M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.258%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.38	−0.015%	—	$235.8M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0125%	1h	116.44	+0.031%	$26.2M	$23.1M	50x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.172%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.33	−0.059%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.42	+0.017%	$51.9M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0179%	1h	116.36	−0.036%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.38	−0.021%	$129K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.44	+0.037%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0575%	1h	116.52	+0.100%	$25K	$52K	20x	as long as short