Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.034%

Price spread now: Vest against Phemex−0.126%45s7-day average −0.022% · you buy dearer than you sell

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

Long on Phemex Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.082%−$8 on $10k

Price spread, last 3 days (all we have)+0.295%+$29 · spread now −0.126%, 7d avg −0.022%

Together, before fees+0.213%+ Points / potential airdropVest: Active · farm board+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Vest is 0.104% cheaper against Phemex than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.022%). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	119.09	0.0100	pay 0.0100% / 8h	2h 33m	$46.5M	$99.9M	50x
Short	Vest SOL-PERP	118.94	−0.0080	pay 0.0010% / 1h	33m 17s	—	$724K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$37.75
Price spread: −0.126% → −0.022%: −$10.4
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$62.15
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 6 min ago; Vest: 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, 6 min ago	0.42 bp	7.4 bp −$7	8.0 bp −$80	16.8 bp −$1,680	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	118.89	−0.168%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.87	−0.183%	$2.0M	$3.2M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.98	−0.095%	$844	$8K	25x	as long as short
Vest SOL-PERPshort	−0.0080%	1h	118.94	−0.126%	—	$724K	20x
Aftermath Perps SOLUSD	−0.0012%	1h	118.98	−0.094%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.98	−0.096%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.17	+0.067%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.96	−0.108%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.05	−0.037%	$26.7M	$27.7M	50x	as long as short
dYdX SOL-USD	0.0000%	1h	118.99	−0.087%	$4.9M	$26.9M	20x	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	+0.0060%	8h	118.97	−0.100%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0066%	8h	119.04	−0.039%	$231.9M	$43.6M	75x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.96	−0.109%	$104K	$152K	20x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	119.13	+0.032%	$123K	$600K	20x	as long as short
ApeX Omni SOLUSDT	+0.0075%	1h	119.12	+0.024%	$1.5M	$6.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.96	−0.112%	—	$370.5M	—	as long as short
Gate SOL_USDT	+0.0083%	8h	118.94	−0.126%	$868.1M	$681.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.97	−0.105%	$13.4M	$53.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.99	−0.086%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.99	−0.087%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.91	−0.151%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.96	−0.109%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.94	−0.126%	$5.5M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.05	−0.034%	$718.3M	$414.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.99	−0.085%	$179.6M	$174.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.98	−0.092%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.95	−0.118%	$971.6M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.98	−0.095%	$825.0M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.91	−0.151%	$370.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.95	−0.118%	$234K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.01	−0.067%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.94	−0.126%	$471.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.95	−0.113%	$142.9M	$196.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.98	−0.088%	$496.6M	$448.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.10	+0.008%	$24.4M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.00	−0.075%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.99	−0.081%	$95.6M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.12	+0.026%	$48.8M	$33.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.06	−0.025%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.95	−0.118%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.94	−0.124%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.97	−0.097%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.94	−0.126%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.98	−0.092%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	119.09	long leg	$46.5M	$99.9M	50x
Bulk SOL-USD	+0.0100%	1h	118.71	−0.319%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	118.92	−0.147%	$8.6M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.15	+0.049%	$8.1M	$414.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.96	−0.108%	—	$216.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.03	−0.050%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.98	−0.092%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.94	−0.123%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.03	−0.050%	$51.8M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	119.02	−0.055%	$36.0M	$89.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.97	−0.099%	$3.6M	—	200x	as long as short