Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0001%/8h= −0.2% APRpaid last 24h −0.028%

Price spread now: MEXC against Phoenix−0.085%7-day average −0.128% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$120.121% of the position

Long on Phoenix Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 7 days−0.073%−$7 · spread now −0.085%, 7d avg −0.128%

Together, before fees−0.400%−$40 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: MEXC is 0.043% dearer against Phoenix than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.128%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SOL	117.64	0.0101	pay 0.0013% / 1h	7m 06s	$6.5M	$13.5M	25x
Short	MEXC SOL_USDT	117.54	0.0100	get 0.0100% / 8h	6h 07m	$423.4M	$1.11B	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$0.29
Price spread: −0.085% → −0.128%: $4.29
Slippage, 4 orders: −$3.06
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee MEXC: 1 bp × 2 orders: −$2
Net: −$8.06
Costs to cover: 0.121%
Break-even: never at this rate

Slippage from Phoenix: live order book, 2 min ago; MEXC: 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	0.85 bp	4.6 bp −$5	5.7 bp −$57	15.2 bp −$1,524	doesn't fit
Sell MEXC live order book, 2 min ago	0.43 bp	1.4 bp −$1	1.4 bp −$14	2.7 bp −$271	6.1 bp −$3,070

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	117.58	−0.049%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0061%	1h	117.44	−0.173%	—	$607K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.51	−0.108%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.53	−0.094%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.56	−0.064%	$1.4M	$20.4M	3.1x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.54	−0.086%	$1.9M	$4.8M	20x	as long as short
Derive SOL-PERP	+0.0021%	1h	117.46	−0.157%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-P	+0.0040%	1h	117.53	−0.093%	$100K	$690K	20x	as long as short
HTX SOL-USDT	+0.0043%	8h	117.41	−0.193%	$228.2M	$45.4M	75x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.55	−0.080%	$31.5M	$98.6M	100x	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	+0.0051%	8h	117.53	−0.094%	$847.6M	$666.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0062%	1h	117.59	−0.039%	$26.4M	$25.4M	50x	as long as short
ApeX Omni SOLUSDT	+0.0068%	1h	117.31	−0.281%	$1.5M	$6.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.56	−0.066%	$8.0M	$406.3M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.55	−0.076%	—	$369.1M	—	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.52	−0.099%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.54	−0.088%	$13.1M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.53	−0.094%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.49	−0.128%	$104K	$157K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.53	−0.092%	$344K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.48	−0.133%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.48	−0.136%	$67K	$846K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.53	−0.089%	$5.8M	$40.9M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.52	−0.102%	$176.4M	$178.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.56	−0.064%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.55	−0.079%	$968.8M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.55	−0.077%	$820.7M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.54	−0.085%	$366.5M	$1.65B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.31	−0.281%	$238K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.51	−0.108%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.53	−0.097%	$134.5M	$13.2M	20x	as long as short
MEXC SOL_USDTshort	+0.0100%	8h	117.54	−0.085%	$423.4M	$1.11B	300x
KuCoin SOLUSDTM	+0.0100%	8h	117.53	−0.098%	$130.5M	$211.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.54	−0.087%	$487.2M	$437.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.54	−0.085%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.49	−0.124%	$24.3M	$121.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.33	−0.266%	$94.2M	$404.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.36	−0.240%	$48.1M	$28.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.41	−0.196%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.50	−0.119%	$354K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.52	−0.104%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.51	−0.109%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.50	−0.116%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.55	−0.077%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.56	−0.068%	$45.8M	$101.1M	50x	as long as short
Phoenix SOLlong	+0.0101%	1h	117.64	long leg	$6.5M	$13.5M	25x
Extended SOL-USD	+0.0104%	1h	117.51	−0.112%	$8.1M	$36.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.53	−0.094%	—	$223.7M	500x	as long as short
Hyperliquid SOL	+0.0119%	1h	117.65	+0.009%	$719.5M	$393.6M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.51	−0.113%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.45	−0.162%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.51	−0.111%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0349%	1h	117.57	−0.063%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.51	−0.111%	$128K	$3.8M	8.3x	as long as short