Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0053%/8h= −5.9% APRpaid last 24h −0.022%

Price spread now: Deribit against Variational Omni+0.030%7-day average +0.027% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.082%−$8 on $10k

Price spread, last 4 days (all we have)−0.275%−$28 · spread now +0.030%, 7d avg +0.027%

Together, before fees−0.357%+ Points / potential airdropVariational Omni: Active · farm board−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SOL	116.68	0.0100	pay 0.0100% / 8h	4h 54m	$24.4M	$115.2M	—
Short	Deribit SOL_USDC-PERPETUAL	116.71	0.0047	get 0.0006% / 1h	54m 55s	$26.3M	$25.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$11.22
Price spread: +0.030% → +0.027%: $0.37
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$17.85
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Deribit: live order book, 4 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 4 min ago	1.24 bp	doesn't fit	3.8 bp −$38	9.5 bp −$947	doesn't fit
Sell Deribit live order book, 4 min ago	0.30 bp	5.2 bp −$5	5.7 bp −$57	15.0 bp −$1,504	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
ApeX Omni SOLUSDT	−0.0435%	1h	116.33	−0.296%	$1.7M	$6.0M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.77	+0.084%	$913	$8K	25x	as long as short
Vest SOL-PERP	−0.0075%	1h	116.59	−0.075%	—	$605K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.69	+0.008%	$54K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.76	+0.073%	$4.4M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.69	+0.013%	$1.4M	$18.8M	3.1x	as long as short
Hibachi SOL/USDT-P	0.0000%	1h	116.76	+0.070%	$103K	$700K	20x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.63	−0.036%	$1.9M	$2.8M	13x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0047%	1h	116.71	+0.030%	$26.3M	$25.2M	50x
01 Exchange SOLUSD	+0.0056%	1h	116.72	+0.038%	$100K	$168K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.66	−0.012%	$7.6M	$404.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.65	−0.024%	$30.8M	$100.0M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.70	+0.022%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.66	−0.015%	$13.0M	$59.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.65	−0.025%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.66	−0.016%	$342K	$228K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.66	−0.013%	$50K	$845K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.75	+0.062%	$1.0M	$521K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.62	−0.048%	$5.6M	$39.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.77	+0.081%	$707.7M	$396.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.67	−0.007%	$175.3M	$182.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.76	+0.074%	$15.5M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.70	+0.021%	$962.2M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.65	−0.022%	$795.3M	$1.32B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.70	+0.021%	$365.0M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.75	+0.064%	$232K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.77	+0.081%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.86	+0.154%	$134.6M	$18.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.67	−0.005%	$848.7M	$651.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	+0.012%	$416.0M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.68	+0.003%	$126.6M	$216.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.69	+0.011%	$481.8M	$439.0M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.67	−0.002%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.68	+0.004%	$23.3M	$37.6M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	116.68	long leg	$24.4M	$115.2M	—
edgeX SOLUSDC	+0.0100%	4h	116.36	−0.269%	$93.5M	$396.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.56	−0.097%	$47.6M	$29.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.76	+0.072%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.65	−0.022%	$336K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.69	+0.008%	$148K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.61	−0.054%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.65	−0.022%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.65	−0.024%	$226.4M	$46.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.72	+0.038%	$45.6M	$101.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.65	−0.026%	$8.0M	$36.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.76	+0.068%	—	$221.3M	500x	as long as short
Phoenix SOL	+0.0129%	1h	116.77	+0.081%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.758%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.61	−0.056%	$1.1M	$538K	25x	as long as short
Bluefin SOL-PERP	+0.0205%	1h	116.66	−0.012%	$25K	$29K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.62	−0.048%	$51.8M	$71.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.70	+0.019%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.67	−0.004%	$128K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0453%	1h	116.81	+0.114%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.81	+0.119%	$1.9M	$4.9M	20x	as long as short