Funding you earn now, next payment 03:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h −0.024%
Price spread now: Bybit against Phoenix+0.137%105s7-day average −0.126% · you sell dearer than you buy
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.211% of the position
Funding, last 7 days−0.354%−$35 on $10k
+Price spread, last 7 days−0.294%−$29 · spread now +0.137%, 7d avg −0.126%
=The price spread pays, funding is against you. Bybit is 0.263% dearer against Phoenix than usual: you sell high and buy low (spread +0.137% now, against its 7-day average of −0.126%): +$26 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 24 days. At the pace of the last 7 days (−0.354% in total) that is about 5.2 days. The two prices were read 105 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 | Phoenix SOL | 116.63 | 0.0137 | pay 0.0017% / 1h | 31m 43s | $6.5M | $13.4M | 25x |
| Short | Bybit SOLUSDT | 116.79 | 0.0100 | get 0.0100% / 8h | 4h 31m | $786.4M | $1.34B | 100x |
Phoenix SOL
Bybit SOLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$7.73
- Price spread: +0.137% → −0.126%
- $26.35
- Slippage, 4 orders
- −$3.09
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$2.46
- Costs to cover
- 0.211%
- Break-even
- from the start
Slippage from Phoenix: live order book, 2 min ago; Bybit: live order book, 2 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 Phoenix live order book, 2 min ago | 0.86 bp | 4.6 bp −$5 | 5.7 bp −$57 | 14.5 bp −$1,447 | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.43 bp | 5.9 bp −$6 | 6.9 bp −$69 | 15.1 bp −$1,511 | 31.5 bp −$15.7K |
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 | −0.0096% | 1h | 116.63 | 0.000% | $103K | $701K | 20x | as long as short |
| Vest SOL-PERP | −0.0096% | 1h | 116.62 | −0.008% | — | $602K | 20x | as long as short |
| Hotstuff SOL-PERP | −0.0080% | 1h | 116.71 | +0.068% | $913 | $8K | 25x | as long as short |
| Derive SOL-PERP | −0.0060% | 1h | 116.64 | +0.009% | $1.9M | $2.8M | 13x | as long as short |
| gTrade (Gains Network) SOL/USD | L −0.0001% / S +0.0004% | 1h | 116.71 | +0.069% | $54K | — | 150x | as long as short |
| Kalshi KXSOLPERP | 0.0000% | 8h | 116.74 | +0.093% | $1.5M | $18.7M | 3.1x | as long as short |
| dYdX SOL-USD | +0.0001% | 1h | 116.79 | +0.135% | $4.4M | $24.2M | 20x | as long as short |
| 01 Exchange SOLUSD | +0.0040% | 1h | 116.72 | +0.077% | $99K | $171K | 20x | as long as short |
| Coinbase International SOL-PERP-INTX | +0.0064% | 1h | 116.73 | +0.086% | $7.5M | $405.2M | 50x | as long as short |
| Kraken Futures PF_SOLUSD | +0.0075% | 1h | 116.71 | +0.072% | $31.1M | $100.3M | 100x | as long as short |
Hibachi SOL/USDT-P
Vest SOL-PERP
Hotstuff SOL-PERP
Derive SOL-PERP
gTrade (Gains Network) SOL/USD
Kalshi KXSOLPERP
dYdX SOL-USD
01 Exchange SOLUSD
Coinbase International SOL-PERP-INTX
Kraken Futures PF_SOLUSDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_SOL_USDC | +0.0091% | 8h | 116.73 | +0.085% | $1.0M | $5.8M | 100x | as long as short |
| Lighter SOL | +0.0096% | 1h | 116.81 | +0.155% | $13.1M | $59.9M | 25x | as long as short |
| Lighter RH SOL | +0.0096% | 1h | 116.79 | +0.140% | $2.2M | $16.7M | 25x | as long as short |
| Aevo SOL-PERP | +0.0096% | 1h | 116.71 | +0.064% | $347K | $244K | 20x | as long as short |
| Katana Perps SOL-USD | +0.0099% | 8h | 116.63 | 0.000% | $51K | $867K | 20x | as long as short |
| Paradex SOL-USD-PERP | +0.0100% | 8h | 116.69 | +0.052% | $988K | $534K | 50x | as long as short |
| Nado SOL-PERP | +0.0100% | 1h | 116.68 | +0.046% | $5.4M | $39.6M | 40x | as long as short |
| Hyperliquid SOL | +0.0100% | 1h | 116.84 | +0.180% | $705.6M | $395.6M | 20x | as long as short |
| Aster SOLUSDT | +0.0100% | 8h | 116.79 | +0.134% | $175.0M | $182.5M | 100x | as long as short |
| Pacifica SOL | +0.0100% | 1h | 116.73 | +0.084% | $15.7M | $130.4M | 20x | as long as short |
| Binance SOLUSDT | +0.0100% | 8h | 116.82 | +0.163% | $967.3M | $3.79B | 100x | as long as short |
| Bybit SOLUSDTshort | +0.0100% | 8h | 116.79 | +0.137% | $786.4M | $1.34B | 100x | |
| OKX SOL-USDT-SWAP | +0.0100% | 8h | 116.82 | +0.163% | $369.5M | $1.68B | 100x | as long as short |
| Ondo Perps SOL-USD.P | +0.0100% | 1h | 116.58 | −0.043% | $230K | $847K | 10x | as long as short |
| Arcus SOL-USD | +0.0100% | 1h | 116.74 | +0.093% | $929K | $9.1M | 20x | as long as short |
| Bulk SOL-USD | +0.0100% | 1h | 116.45 | −0.154% | $133.2M | $20.7M | 20x | as long as short |
| Gate SOL_USDT | +0.0100% | 8h | 116.73 | +0.086% | $842.9M | $659.8M | 100x | as long as short |
| MEXC SOL_USDT | +0.0100% | 8h | 116.77 | +0.120% | $417.7M | $1.06B | 300x | as long as short |
| KuCoin SOLUSDTM | +0.0100% | 8h | 116.73 | +0.084% | $126.5M | $218.1M | 75x | as long as short |
| Bitget SOLUSDT | +0.0100% | 8h | 116.78 | +0.130% | $480.1M | $441.6M | 100x | as long as short |
| BingX SOL-USDT | +0.0100% | 8h | 116.77 | +0.123% | — | $365.0M | — | as long as short |
| Backpack SOL_USDC_PERP | +0.0100% | 1h | 116.70 | +0.060% | $23.5M | $37.9M | 50x | as long as short |
| Variational Omni SOL | +0.0100% | 8h | 116.25 | −0.322% | $24.4M | $114.0M | — | as long as short |
| edgeX SOLUSDC | +0.0100% | 4h | 116.43 | −0.175% | $93.5M | $398.2M | 75x | as long as short |
| GRVT SOL_USDT_Perp | +0.0100% | 8h | 116.45 | −0.158% | $47.6M | $29.7M | 20x | as long as short |
| ApeX Omni SOLUSDT | +0.0100% | 1h | 116.53 | −0.086% | $1.2M | $6.6M | 50x | as long as short |
| StandX SOL-USD | +0.0100% | 1h | 116.43 | −0.171% | $1.3M | $13.0M | 30x | as long as short |
| Polymarket Perps SOL-USD | +0.0100% | 1h | 116.69 | +0.051% | $321K | $2.6M | 20x | as long as short |
| Bullet SOL-USD | +0.0100% | 1h | 116.69 | +0.051% | $148K | $1.6M | 20x | as long as short |
| Bluefin SOL-PERP | +0.0100% | 1h | 116.66 | +0.028% | $25K | $29K | 25x | as long as short |
| SunX SOL-USDT | +0.0100% | 8h | 116.68 | +0.044% | $189K | $1.8M | 30x | as long as short |
| SoDEX SOL-USD | +0.0100% | 1h | 116.71 | +0.069% | $6.0M | $10.8M | 20x | as long as short |
| HTX SOL-USDT | +0.0100% | 8h | 116.62 | −0.008% | $226.3M | $47.1M | 75x | as long as short |
| Phemex SOLUSDT | +0.0100% | 8h | 116.70 | +0.060% | $45.7M | $101.9M | 50x | as long as short |
| Extended SOL-USD | +0.0104% | 1h | 116.71 | +0.069% | $8.1M | $36.9M | 50x | as long as short |
| Jupiter Perps SOL-PERP | L +0.0120% / S +0.0056% | 1h | 116.70 | +0.064% | — | $230.2M | 500x | as long as short |
| Injective SOL/USDC PERP | +0.0137% | 1h | 116.56 | −0.060% | $4K | $2K | 12x | as long as short |
| Phoenix SOLlong | +0.0137% | 1h | 116.63 | long leg | $6.5M | $13.4M | 25x | |
| Deribit SOL_USDC-PERPETUAL | +0.0160% | 1h | 116.77 | +0.122% | $26.3M | $25.3M | 50x | as long as short |
| Reya SOLRUSDPERP | +0.0190% | 1h | 116.66 | +0.028% | $1.1M | $540K | 25x | as long as short |
| BloFin SOL-USDT | +0.0220% | 8h | 116.66 | +0.026% | $51.7M | $72.3M | 125x | as long as short |
| GMX SOL/USD [SOL-USDC] | L +0.0232% / S −0.0171% | 1h | 116.70 | +0.063% | $3.5M | — | 200x | as long as short |
| Perpl SOL | +0.0335% | 43m | 116.70 | +0.063% | $140K | $3.7M | 8.3x | as long as short |
| Aftermath Perps SOLUSD | +0.0533% | 1h | 116.61 | −0.016% | $25K | $51K | 20x | as long as short |
| RISEx SOL/USDC | +0.0559% | 1h | 116.77 | +0.122% | $1.9M | $4.9M | 20x | as long as short |
Orderly PERP_SOL_USDC
Lighter SOL
Lighter RH SOL
Aevo SOL-PERP
Katana Perps SOL-USD
Paradex SOL-USD-PERP
Nado SOL-PERP
Hyperliquid SOL
Aster SOLUSDT
Pacifica SOL
Binance SOLUSDT
OKX SOL-USDT-SWAP
Ondo Perps SOL-USD.P
Arcus SOL-USD
Bulk SOL-USD
Gate SOL_USDT
MEXC SOL_USDT
KuCoin SOLUSDTM
Bitget SOLUSDT
BingX SOL-USDT
Backpack SOL_USDC_PERP
Variational Omni SOL
edgeX SOLUSDC
GRVT SOL_USDT_Perp
ApeX Omni SOLUSDT
StandX SOL-USD
Polymarket Perps SOL-USD
Bullet SOL-USD
Bluefin SOL-PERP
SunX SOL-USDT
SoDEX SOL-USD
HTX SOL-USDT
Phemex SOLUSDT
Extended SOL-USD
Jupiter Perps SOL-PERP
Injective SOL/USDC PERP
Deribit SOL_USDC-PERPETUAL
Reya SOLRUSDPERP
BloFin SOL-USDT
GMX SOL/USD [SOL-USDC]
Perpl SOL
Aftermath Perps SOLUSD
RISEx SOL/USDC