Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Polymarket Perps against Phemex+0.017%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.180%+$18 · spread now +0.017%, 7d avg −0.004%

Together, before fees+0.173%+$17 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: Polymarket Perps is 0.021% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.94	0.0100	pay 0.0100% / 8h	4h 28m	$45.7M	$101.8M	50x
Short	Polymarket Perps SOL-USD	116.96	0.0100	get 0.0013% / 1h	28m 58s	$321K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → −0.004%: $2.14
Slippage, 4 orders: −$3.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$21.04
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Polymarket Perps: 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	6.4 bp −$6	7.6 bp −$76	15.1 bp −$1,509	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.43 bp	4.4 bp −$4	6.0 bp −$60	19.4 bp −$1,945	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	−0.0112%	1h	116.88	−0.047%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.90	−0.032%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.88	−0.051%	$914	$8K	25x	as long as short
Derive SOL-PERP	−0.0060%	1h	116.92	−0.018%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.99	+0.043%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.99	+0.042%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.98	+0.032%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.95	+0.009%	$100K	$171K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.99	+0.046%	$7.5M	$405.9M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.98	+0.038%	$31.1M	$100.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0091%	8h	117.00	+0.052%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.92	−0.016%	$13.1M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.97	+0.022%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.98	+0.036%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.90	−0.034%	$51K	$868K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.99	+0.041%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.89	−0.038%	$5.4M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.85	−0.077%	$705.3M	$396.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.77	−0.143%	$175.0M	$182.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.96	+0.021%	$15.8M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.66	−0.239%	$968.8M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.63	−0.265%	$783.7M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.69	−0.214%	$369.6M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.87	−0.060%	$231K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.95	+0.010%	$929K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.419%	$133.2M	$20.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.60	−0.291%	$842.3M	$660.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.65	−0.248%	$386.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.60	−0.291%	$126.4M	$218.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.58	−0.310%	$479.2M	$441.3M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.62	−0.273%	—	$365.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.79	−0.128%	$23.1M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.77	−0.141%	$24.4M	$114.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.76	−0.157%	$93.7M	$398.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.89	−0.047%	$47.8M	$29.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.60	−0.290%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.81	−0.111%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USDshort	+0.0100%	1h	116.96	+0.017%	$321K	$2.6M	20x
Bullet SOL-USD	+0.0100%	1h	116.98	+0.035%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.96	+0.014%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.97	+0.026%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.98	+0.034%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.92	−0.019%	$227.0M	$47.1M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.94	long leg	$45.7M	$101.8M	50x
Extended SOL-USD	+0.0104%	1h	116.58	−0.309%	$8.1M	$37.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.94	+0.004%	—	$230.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	−0.325%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.94	0.000%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0139%	1h	117.04	+0.081%	$26.4M	$25.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.95	+0.008%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.97	+0.026%	$51.9M	$71.4M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0236% / S −0.0180%	1h	116.99	+0.042%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.94	−0.003%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0532%	1h	116.76	−0.151%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.99	+0.042%	$1.9M	$4.9M	20x	as long as short