Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h −0.034%

Price spread now: HTX against Phoenix−0.086%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

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

costs, in and out, $10k−$220.219% of the position

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.302%−$30 on $10k

Price spread, last 3 days (all we have)−0.158%−$16 · spread now −0.086%, 7d avg −0.092%

Together, before fees−0.460%−$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.092%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.302%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SOL	119.58	0.0054	pay 0.0007% / 1h	56m 30s	$6.6M	$13.7M	25x
Short	HTX SOL-USDT	119.48	0.0083	get 0.0083% / 8h	56m 30s	$232.6M	$45.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.086%Rate

Funding earned: $6.07
Price spread: −0.086% → −0.092%: $0.58
Slippage, 4 orders: −$2.88
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$15.23
Costs to cover: 0.219%
Break-even: 24.6 days

Slippage from Phoenix: live order book, 3 min ago; HTX: live order book, 3 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, 3 min ago	0.84 bp	4.6 bp −$5	5.7 bp −$57	15.1 bp −$1,506	doesn't fit
Sell HTX live order book, 3 min ago	0.00 bp	6.7 bp −$7	9.4 bp −$94	17.2 bp −$1,717	42.3 bp −$21.1K

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
Hotstuff SOL-PERP	−0.0080%	1h	119.51	−0.060%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.49	−0.074%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.44	−0.121%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.52	−0.050%	$115K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.55	−0.025%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.54	−0.032%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.50	−0.069%	$177K	$4.0M	8.3x	as long as short
Phoenix SOLlong	+0.0054%	1h	119.58	long leg	$6.6M	$13.7M	25x
01 Exchange SOLUSD	+0.0064%	1h	119.57	−0.008%	$104K	$157K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	119.52	−0.050%	$1.1M	$5.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SOL-USDT	+0.0080%	8h	119.55	−0.026%	—	$371.5M	—	as long as short
HTX SOL-USDTshort	+0.0083%	8h	119.48	−0.086%	$232.6M	$45.0M	75x
Gate SOL_USDT	+0.0086%	8h	119.53	−0.042%	$870.9M	$672.1M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0088%	1h	119.58	+0.002%	$26.7M	$26.1M	50x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	119.49	−0.079%	$118K	$608K	20x	as long as short
Aftermath Perps SOLUSD	+0.0090%	1h	119.35	−0.193%	$24K	$47K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.52	−0.054%	$13.6M	$55.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.52	−0.047%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.48	−0.082%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.55	−0.024%	$8.3M	$418.1M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.50	−0.067%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.51	−0.059%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.50	−0.063%	$6.1M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.62	+0.033%	$722.0M	$411.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.53	−0.043%	$179.0M	$174.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.55	−0.025%	$12.3M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.55	−0.025%	$984.7M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.58	0.000%	$831.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.53	−0.042%	$372.9M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.51	−0.059%	$234K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.56	−0.021%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.35	−0.192%	$133.8M	$7.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.52	−0.050%	$452.8M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.54	−0.030%	$140.1M	$203.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.53	−0.042%	$497.7M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.51	−0.059%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	−0.269%	$27.3M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.37	−0.173%	$95.9M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.37	−0.172%	$48.8M	$31.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.36	−0.186%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.55	−0.025%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.54	−0.033%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.50	−0.063%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.51	−0.055%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.45	−0.105%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.52	−0.050%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.47	−0.092%	$46.7M	$102.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.52	−0.053%	$8.7M	$35.9M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	119.53	−0.040%	$32.7M	$96.9M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.55	−0.027%	—	$224.3M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0070%	1h	119.52	−0.051%	$3.8M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.02	−0.468%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.51	−0.055%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.50	−0.067%	$52.1M	$84.2M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.57	−0.006%	$1.7M	$5.3M	20x	as long as short