Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Phemex against SunX−0.161%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$600.602% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 3 days (all we have)+0.152%+$15 · spread now −0.161%, 7d avg +0.023%

Together, before fees+0.066%+$7 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 0.184% cheaper against SunX than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SOL-USDT	119.00	0.0100	pay 0.0100% / 8h	7h 18m	$193K	$1.8M	30x
Short	Phemex SOLUSDT	118.81	0.0100	get 0.0100% / 8h	7h 18m	$46.6M	$99.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.161%Rate

Funding earned: $0
Price spread: −0.161% → +0.023%: −$18.39
Slippage, 4 orders: −$40.23
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$78.62
Costs to cover: 0.602%
Break-even: never at this rate

Slippage from SunX: live order book, 7 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 SunX live order book, 7 min ago	4.20 bp	21.1 bp −$21	38.6 bp −$386	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	0.42 bp	9.5 bp −$9	11.2 bp −$112	17.1 bp −$1,708	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	118.97	−0.022%	$930	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	118.94	−0.050%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.83	−0.143%	$2.0M	$2.7M	13x	as long as short
dYdX SOL-USD	−0.0021%	1h	118.98	−0.018%	$5.0M	$25.7M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.80	−0.166%	$32.4M	$97.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.97	−0.024%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.91	−0.075%	$1.2M	$20.1M	3.1x	as long as short
Hibachi SOL/USDT-P	0.0000%	1h	119.00	+0.002%	$100K	$650K	20x	as long as short
Perpl SOL	0.0000%	43m	118.98	−0.022%	$154K	$3.8M	8.3x	as long as short
HTX SOL-USDT	+0.0010%	8h	118.71	−0.247%	$230.9M	$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	119.00	−0.001%	$104K	$160K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0034%	1h	118.89	−0.095%	$26.6M	$24.8M	50x	as long as short
Bluefin SOL-PERP	+0.0047%	1h	118.93	−0.062%	$37K	$17K	25x	as long as short
Gate SOL_USDT	+0.0078%	8h	118.73	−0.228%	$854.8M	$669.4M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.75	−0.213%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	118.92	−0.069%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.84	−0.139%	$8.0M	$409.2M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.78	−0.188%	$14.2M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.82	−0.152%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.88	−0.100%	$348K	$254K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.95	−0.046%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.98	−0.018%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.98	−0.018%	$5.9M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.91	−0.077%	$724.1M	$396.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.82	−0.153%	$179.5M	$177.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.98	−0.018%	$12.2M	$125.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.74	−0.220%	$977.6M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.79	−0.178%	$823.3M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.76	−0.203%	$370.2M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	−0.119%	$233K	$830K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.97	−0.025%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.07	+0.058%	$136.4M	$9.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.74	−0.220%	$429.2M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.75	−0.212%	$138.4M	$203.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.75	−0.212%	$492.5M	$440.0M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.83	−0.144%	$24.0M	$37.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.93	−0.064%	$25.0M	$130.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.89	−0.097%	$95.5M	$403.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.91	−0.078%	$48.7M	$29.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.86	−0.119%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.97	−0.027%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.00	−0.001%	$354K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.99	−0.006%	$203K	$1.7M	20x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	119.00	long leg	$193K	$1.8M	30x
SoDEX SOL-USD	+0.0100%	1h	118.81	−0.161%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	118.81	−0.161%	$46.6M	$99.6M	50x
Extended SOL-USD	+0.0104%	1h	118.70	−0.256%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	118.95	−0.043%	$6.5M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.04	+0.031%	—	$219.4M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.96	−0.031%	$1.8M	$4.5M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	118.99	−0.011%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	+0.007%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	118.99	−0.010%	$1.1M	$524K	25x	as long as short
Aftermath Perps SOLUSD	+0.0192%	1h	119.05	+0.038%	$25K	$50K	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.78	−0.186%	$51.8M	$74.8M	125x	as long as short