Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: SoDEX against Phemex+0.008%7-day average −0.014% · 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−$22as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now +0.008%, 7d avg −0.014%

Together, before fees−0.004%$0 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: SoDEX is 0.023% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	118.06	0.0100	pay 0.0100% / 8h	6h 24m	$46.0M	$101.6M	50x
Short	SoDEX SOL-USD	118.07	0.0100	get 0.0013% / 1h	24m 42s	$6.2M	$10.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → −0.014%: $2.25
Slippage, 4 orders: −$4.14
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$21.88
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SoDEX: 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	7.1 bp −$7	7.3 bp −$73	15.5 bp −$1,546	doesn't fit
Sell SoDEX live order book, 4 min ago	0.42 bp	4.4 bp −$4	4.9 bp −$49	8.7 bp −$866	doesn't fit

SOL on 54 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	118.07	+0.010%	$923	$8K	25x	as long as short
Vest SOL-PERP	−0.0068%	1h	118.02	−0.030%	—	$607K	20x	as long as short
Hibachi SOL/USDT-P	−0.0032%	1h	118.16	+0.086%	$101K	$691K	20x	as long as short
Derive SOL-PERP	−0.0027%	1h	118.00	−0.054%	$2.0M	$2.8M	13x	as long as short
ApeX Omni SOLUSDT	−0.0003%	1h	117.89	−0.140%	$1.5M	$6.0M	50x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.13	+0.059%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.09	+0.025%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.09	+0.028%	$1.4M	$21.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.06	+0.001%	$129K	$3.9M	8.3x	as long as short
RISEx SOL/USDC	+0.0018%	1h	118.07	+0.008%	$2.0M	$4.7M	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SOL_USDT	+0.0046%	8h	118.04	−0.017%	$854.0M	$662.2M	100x	as long as short
HTX SOL-USDT	+0.0047%	8h	118.07	+0.010%	$229.5M	$45.5M	75x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	118.07	+0.011%	$31.7M	$98.8M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	118.09	+0.026%	$8.0M	$410.5M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0074%	1h	118.12	+0.048%	$26.5M	$25.5M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.06	−0.004%	—	$369.7M	—	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	118.09	+0.027%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.03	−0.028%	$13.1M	$59.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.02	−0.032%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	118.08	+0.017%	$104K	$159K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.08	+0.017%	$346K	$258K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.11	+0.044%	$1.0M	$519K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.00	−0.051%	$65K	$853K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.04	−0.021%	$5.7M	$41.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.04	−0.014%	$177.3M	$179.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.06	−0.004%	$14.4M	$128.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.02	−0.036%	$972.7M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.03	−0.021%	$822.9M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.98	−0.068%	$366.7M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.01	−0.042%	$239K	$894K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.07	+0.008%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.00	−0.051%	$135.1M	$14.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.97	−0.076%	$426.1M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.05	−0.010%	$131.7M	$210.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.04	−0.014%	$488.9M	$440.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.07	+0.008%	$23.8M	$37.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.14	+0.064%	$24.5M	$122.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.99	−0.060%	$94.8M	$404.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.98	−0.067%	$48.3M	$29.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.08	+0.017%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.08	+0.017%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.13	+0.055%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.08	+0.015%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.13	+0.056%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USDshort	+0.0100%	1h	118.07	+0.008%	$6.2M	$10.8M	20x
Phemex SOLUSDTlong	+0.0100%	8h	118.06	long leg	$46.0M	$101.6M	50x
Phoenix SOL	+0.0101%	1h	117.98	−0.068%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.01	−0.040%	$8.1M	$36.2M	50x	as long as short
Hyperliquid SOL	+0.0107%	1h	118.15	+0.076%	$722.5M	$399.8M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	118.07	+0.005%	—	$226.2M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	118.07	+0.007%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	−0.161%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	118.12	+0.050%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0326%	1h	117.94	−0.104%	$25K	$51K	20x	as long as short