Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Phemex against Polymarket Perps−0.017%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.180%−$18 · spread now −0.017%, 7d avg +0.004%

Together, before fees−0.173%−$17 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: Phemex is 0.021% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SOL-USD	116.96	0.0100	pay 0.0013% / 1h	29m 10s	$321K	$2.6M	20x
Short	Phemex SOLUSDT	116.94	0.0100	get 0.0100% / 8h	4h 29m	$45.7M	$101.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.004%: −$2.14
Slippage, 4 orders: −$3.18
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$25.32
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Phemex: 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 Polymarket Perps live order book, 5 min ago	0.43 bp	4.4 bp −$4	5.8 bp −$58	17.5 bp −$1,751	doesn't fit
Sell Phemex live order book, 5 min ago	0.43 bp	7.9 bp −$8	8.1 bp −$81	16.4 bp −$1,635	doesn't fit

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	−0.0112%	1h	116.88	−0.064%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.90	−0.050%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.88	−0.068%	$914	$8K	25x	as long as short
Derive SOL-PERP	−0.0060%	1h	116.92	−0.035%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.99	+0.026%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.99	+0.025%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.98	+0.015%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.95	−0.009%	$100K	$171K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.99	+0.029%	$7.5M	$405.9M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.98	+0.021%	$31.1M	$100.3M	100x	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	+0.0091%	8h	117.00	+0.035%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.92	−0.033%	$13.1M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.97	+0.005%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.98	+0.019%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.90	−0.051%	$51K	$868K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.99	+0.024%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.89	−0.056%	$5.4M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.85	−0.094%	$705.3M	$396.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.00	+0.030%	$175.3M	$182.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.96	+0.004%	$15.8M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.61	−0.299%	$968.4M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.57	−0.334%	$784.3M	$1.34B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.63	−0.282%	$369.9M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.87	−0.077%	$231K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.95	−0.007%	$929K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.436%	$133.2M	$20.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.84	−0.103%	$844.3M	$660.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.86	−0.085%	$398.9M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.90	−0.050%	$126.7M	$218.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.73	−0.200%	$479.8M	$441.2M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.76	−0.169%	—	$365.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.79	−0.145%	$23.1M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.77	−0.159%	$24.4M	$114.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.76	−0.175%	$93.7M	$398.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.89	−0.064%	$47.8M	$29.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.60	−0.307%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.81	−0.128%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USDlong	+0.0100%	1h	116.96	long leg	$321K	$2.6M	20x
Bullet SOL-USD	+0.0100%	1h	116.98	+0.018%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.96	−0.003%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.97	+0.009%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.98	+0.017%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.92	−0.036%	$227.0M	$47.1M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.94	−0.017%	$45.7M	$101.8M	50x
Extended SOL-USD	+0.0104%	1h	116.93	−0.023%	$8.1M	$36.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.94	−0.013%	—	$230.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	−0.342%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.94	−0.017%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0139%	1h	117.04	+0.064%	$26.4M	$25.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.95	−0.009%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.97	+0.009%	$51.9M	$71.4M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0236% / S −0.0180%	1h	116.99	+0.025%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.94	−0.020%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0532%	1h	116.76	−0.168%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.99	+0.025%	$1.9M	$4.9M	20x	as long as short