Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Backpack against SoDEX0.000%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$200.197% of the position

Long on SoDEX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%$0 on $10k

Price spread, last 3 days (all we have)+0.051%+$5 · spread now 0.000%, 7d avg +0.011%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SOL-USD	119.02	0.0100	pay 0.0013% / 1h	19m 48s	$6.3M	$10.8M	20x
Short	Backpack SOL_USDC_PERP	119.02	0.0100	get 0.0013% / 1h	19m 48s	$24.0M	$37.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SoDEX. 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 SoDEXbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.011%: −$1.15
Slippage, 4 orders: −$1.68
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$20.83
Costs to cover: 0.197%
Break-even: never at this rate

Slippage from SoDEX: live order book, 4 min ago; Backpack: live order book, 4 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 SoDEX live order book, 4 min ago	0.42 bp	4.4 bp −$4	4.8 bp −$48	17.7 bp −$1,767	doesn't fit
Sell Backpack live order book, 4 min ago	0.42 bp	5.4 bp −$5	7.0 bp −$70	9.3 bp −$927	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
Hotstuff SOL-PERP	−0.0080%	1h	118.92	−0.087%	$930	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.90	−0.105%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.96	−0.052%	$2.0M	$2.7M	13x	as long as short
dYdX SOL-USD	−0.0021%	1h	118.98	−0.034%	$5.0M	$25.7M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.05	+0.024%	$32.4M	$97.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.01	−0.008%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.97	−0.044%	$1.2M	$20.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.97	−0.039%	$154K	$3.8M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0016%	1h	118.97	−0.043%	$100K	$657K	20x	as long as short
HTX SOL-USDT	+0.0022%	8h	118.89	−0.105%	$231.3M	$44.0M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0032%	1h	118.97	−0.042%	$104K	$160K	20x	as long as short
Bluefin SOL-PERP	+0.0036%	1h	119.03	+0.008%	$37K	$17K	25x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.93	−0.079%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0082%	8h	119.06	+0.030%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.05	+0.027%	$8.1M	$409.9M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.94	−0.071%	$14.2M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.93	−0.075%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.00	−0.016%	$349K	$251K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0096%	1h	119.08	+0.051%	$26.7M	$24.8M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.86	−0.135%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.93	−0.076%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.88	−0.121%	$5.9M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.06	+0.034%	$725.0M	$396.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.98	−0.033%	$179.6M	$177.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.92	−0.083%	$12.2M	$124.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.94	−0.071%	$979.6M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.97	−0.040%	$824.0M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.94	−0.067%	$371.1M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	−0.134%	$233K	$830K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.92	−0.081%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.07	+0.042%	$136.4M	$9.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	119.00	−0.017%	$856.8M	$668.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.00	−0.017%	$429.7M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.02	+0.003%	$138.6M	$203.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.94	−0.064%	$493.6M	$439.7M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	119.02	0.000%	$24.0M	$37.2M	50x
Variational Omni SOL	+0.0100%	8h	118.93	−0.080%	$25.0M	$130.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.00	−0.013%	$95.6M	$403.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.15	+0.108%	$48.8M	$29.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.04	+0.017%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.91	−0.092%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.96	−0.050%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.00	−0.019%	$204K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.94	−0.066%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USDlong	+0.0100%	1h	119.02	long leg	$6.3M	$10.8M	20x
Phemex SOLUSDT	+0.0100%	8h	119.02	0.000%	$46.7M	$99.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.97	−0.044%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.17	+0.126%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.93	−0.073%	—	$219.5M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.92	−0.080%	$1.8M	$4.5M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	119.01	−0.012%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.008%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	118.94	−0.069%	$1.1M	$524K	25x	as long as short
Aftermath Perps SOLUSD	+0.0190%	1h	119.04	+0.014%	$25K	$50K	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.91	−0.092%	$51.8M	$76.1M	125x	as long as short