Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0090%/8h= −9.8% APRpaid last 24h −0.023%

Price spread now: Deribit against SunX+0.044%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$540.535% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now +0.044%, 7d avg +0.037%

Together, before fees−0.181%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.037%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SOL-USDT	118.73	0.0100	pay 0.0100% / 8h	3h 09m	$193K	$1.9M	30x
Short	Deribit SOL_USDC-PERPETUAL	118.78	0.0010	get 0.0001% / 1h	9m 47s	$26.6M	$27.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$18.86
Price spread: +0.044% → +0.037%: $0.73
Slippage, 4 orders: −$38.52
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$71.65
Costs to cover: 0.535%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Deribit: 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 SunX live order book, 6 min ago	4.18 bp	20.8 bp −$21	31.3 bp −$313	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	1.94 bp	5.7 bp −$6	6.1 bp −$61	25.4 bp −$2,537	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
Vest SOL-PERP	−0.0088%	1h	118.67	−0.050%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.65	−0.067%	$841	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0072%	1h	118.64	−0.079%	$24K	$48K	20x	as long as short
Derive SOL-PERP	−0.0065%	1h	118.68	−0.040%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0011%	1h	118.76	+0.025%	$4.8M	$26.7M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.77	+0.032%	$49K	—	150x	as long as short
Perpl SOL	0.0000%	43m	118.75	+0.012%	$194K	$4.1M	8.3x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0010%	1h	118.78	+0.044%	$26.6M	$27.9M	50x
01 Exchange SOLUSD	+0.0032%	1h	118.77	+0.032%	$104K	$154K	20x	as long as short
HTX SOL-USDT	+0.0054%	8h	118.67	−0.050%	$231.2M	$43.6M	75x	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	+0.0055%	8h	118.77	+0.032%	$1.1M	$5.8M	100x	as long as short
ApeX Omni SOLUSDT	+0.0074%	1h	118.48	−0.213%	$1.5M	$6.3M	50x	as long as short
KuCoin SOLUSDTM	+0.0076%	8h	118.67	−0.052%	$146.6M	$193.5M	75x	as long as short
Gate SOL_USDT	+0.0078%	8h	118.68	−0.044%	$854.5M	$682.7M	100x	as long as short
Bitget SOLUSDT	+0.0092%	8h	118.67	−0.048%	$495.9M	$450.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.69	−0.038%	$13.5M	$52.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.67	−0.050%	$2.0M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.73	−0.004%	$353K	$749K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	118.75	+0.011%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.73	−0.002%	$46K	$782K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.70	−0.026%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.78	+0.040%	$716.0M	$440.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.68	−0.044%	$179.5M	$174.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.77	+0.030%	$12.4M	$112.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.68	−0.044%	$975.1M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.70	−0.027%	$819.9M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.68	−0.044%	$365.1M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.68	−0.044%	$232K	$865K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.77	+0.032%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.55	−0.154%	$132.6M	$13.8M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.68	−0.044%	$477.4M	$1.07B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.69	−0.037%	—	$369.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.71	−0.019%	$24.1M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.65	−0.070%	$27.5M	$125.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.47	−0.220%	$95.2M	$393.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.54	−0.165%	$48.5M	$33.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.68	−0.044%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.75	+0.015%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.74	+0.005%	$200K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.75	+0.019%	$37K	$14K	25x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	118.73	long leg	$193K	$1.9M	30x
SoDEX SOL-USD	+0.0100%	1h	118.71	−0.019%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.71	−0.019%	$46.3M	$99.8M	50x	as long as short
Kalshi KXSOLPERP	+0.0101%	8h	118.75	+0.017%	$1.2M	$21.0M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	118.68	−0.045%	$8.7M	$37.4M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	118.78	+0.036%	$8.0M	$411.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.73	+0.001%	—	$217.1M	500x	as long as short
Hibachi SOL/USDT-P	+0.0128%	1h	118.67	−0.056%	$125K	$602K	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0131%	1h	118.74	+0.005%	$36.1M	$90.5M	100x	as long as short
Phoenix SOL	+0.0149%	1h	118.64	−0.078%	$7.3M	$11.3M	25x	as long as short
RISEx SOL/USDC	+0.0160%	1h	118.75	+0.019%	$1.6M	$6.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	118.76	+0.022%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.64	−0.078%	$51.7M	$90.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0239% / S −0.0181%	1h	118.77	+0.030%	$3.6M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0533%	1h	119.06	+0.276%	$4K	$2K	12x	as long as short