Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h −0.030%

Price spread now: edgeX against Phoenix+0.315%7-day average −0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs+$26as in the Price arb table

costs, in and out, $10k−$200.205% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 7 days−0.494%−$49 · spread now +0.315%, 7d avg −0.155%

Together, before fees−0.766%+ Points / potential airdropedgeX: Active · farm board−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.469% dearer against Phoenix than usual: you sell high and buy low (spread +0.315% now, against its 7-day average of −0.155%): +$47 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 7 days (−0.272% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SOL	117.72	0.0114	pay 0.0014% / 1h	54m 37s	$6.5M	$13.5M	25x
Short	edgeX SOLUSDC	118.09	0.0100	get 0.0050% / 4h	2h 54m	$94.9M	$399.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phoenix. 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 PhoenixbpFee edgeXbpOrdersPrice spread, now +0.315%Rate

Funding earned: −$3.01
Price spread: +0.315% → −0.155%: $46.93
Slippage, 4 orders: −$4.46
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $23.46
Costs to cover: 0.205%
Break-even: from the start

Slippage from Phoenix: live order book, 5 min ago; edgeX: 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 Phoenix live order book, 5 min ago	0.42 bp	3.9 bp −$4	3.9 bp −$39	11.7 bp −$1,169	doesn't fit
Sell edgeX live order book, 5 min ago	1.27 bp	6.3 bp −$6	6.6 bp −$66	6.8 bp −$678	9.6 bp −$4,802

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
ApeX Omni SOLUSDT	−0.1080%	1h	118.05	+0.279%	$1.5M	$6.1M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.62	−0.084%	$920	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0080%	1h	117.65	−0.063%	$94K	$696K	20x	as long as short
Vest SOL-PERP	−0.0079%	1h	117.53	−0.162%	—	$610K	20x	as long as short
HTX SOL-USDT	−0.0079%	8h	117.52	−0.169%	$228.6M	$44.7M	75x	as long as short
Derive SOL-PERP	−0.0050%	1h	117.52	−0.172%	$2.0M	$2.7M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.57	−0.127%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.69	−0.023%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.59	−0.111%	$1.6M	$21.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.56	−0.136%	$131K	$4.0M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.64	−0.071%	$26.4M	$25.3M	50x	as long as short
Gate SOL_USDT	+0.0005%	8h	117.65	−0.059%	$843.6M	$647.7M	100x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.53	−0.165%	$1.8M	$4.6M	20x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.57	−0.127%	$102K	$162K	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.63	−0.080%	$31.5M	$98.5M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.65	−0.059%	$7.9M	$409.1M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.58	−0.116%	—	$370.1M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	117.61	−0.092%	$1.0M	$5.9M	100x	as long as short
Lighter RH SOL	+0.0088%	1h	117.65	−0.059%	$2.2M	$16.6M	25x	as long as short
Lighter SOL	+0.0096%	1h	117.70	−0.017%	$13.1M	$57.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.61	−0.090%	$345K	$262K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.58	−0.121%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.52	−0.170%	$45K	$815K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.59	−0.114%	$5.7M	$41.4M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.63	−0.076%	$177.5M	$180.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.69	−0.027%	$12.8M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.64	−0.065%	$973.9M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.61	−0.093%	$818.0M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.58	−0.119%	$365.0M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.56	−0.136%	$255K	$899K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.59	−0.107%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.15	+0.365%	$136.0M	$13.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.61	−0.093%	$421.7M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.63	−0.074%	$133.1M	$207.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.56	−0.137%	$487.9M	$445.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.65	−0.059%	$23.7M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.61	−0.096%	$24.4M	$130.2M	—	as long as short
edgeX SOLUSDCshort	+0.0100%	4h	118.09	+0.315%	$94.9M	$399.6M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	117.85	+0.108%	$48.3M	$29.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.09	+0.314%	$1.3M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.52	−0.170%	$351K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.54	−0.151%	$199K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.57	−0.130%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.61	−0.091%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.61	−0.093%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.66	−0.051%	$45.9M	$100.4M	50x	as long as short
Hyperliquid SOL	+0.0102%	1h	117.78	+0.051%	$716.1M	$400.1M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	117.54	−0.151%	$8.3M	$35.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.61	−0.090%	—	$228.1M	500x	as long as short
Phoenix SOLlong	+0.0114%	1h	117.72	long leg	$6.5M	$13.5M	25x
Reya SOLRUSDPERP	+0.0187%	1h	117.50	−0.184%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.63	−0.076%	$52.2M	$73.9M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	119.50	+1.512%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	117.55	−0.147%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0275%	1h	118.21	+0.419%	$25K	$51K	20x	as long as short