Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0089%/8h= −9.7% APRpaid last 24h −0.035%

Price spread now: Derive against Variational Omni−0.050%7-day average −0.035% · you buy dearer than you sell

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

Long on Variational Omni Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.056%−$6 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.050%, 7d avg −0.035%

Together, before fees−0.036%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, 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	Variational Omni SOL	116.73	0.0100	pay 0.0100% / 8h	3h 34m	$24.5M	$113.5M	—
Short	Derive SOL-PERP	116.68	0.0011	get 0.0001% / 1h	34m 12s	$1.9M	$2.9M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DerivebpOrdersPrice spread, now −0.050%Rate

Funding earned: −$18.68
Price spread: −0.050% → −0.035%: −$1.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: −$26.17
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Derive: no order-book sample. 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, 5 min ago	1.24 bp	doesn't fit	1.8 bp −$18	9.3 bp −$929	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.73	−0.003%	$31.0M	$101.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0152%	1h	116.83	+0.082%	$103K	$699K	20x	as long as short
Vest SOL-PERP	−0.0087%	1h	116.74	+0.009%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.91	+0.153%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.77	+0.026%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.87	+0.115%	$1.5M	$19.0M	3.1x	as long as short
dYdX SOL-USD	+0.0007%	1h	116.87	+0.116%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERPshort	+0.0011%	1h	116.68	−0.050%	$1.9M	$2.9M	13x
Bybit SOLUSDT	+0.0040%	8h	116.67	−0.058%	$763.8M	$1.38B	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.76	+0.021%	$7.6M	$404.9M	50x	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	+0.0080%	1h	116.79	+0.047%	$99K	$174K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.75	+0.013%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.73	−0.003%	$13.1M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.72	−0.009%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.76	+0.019%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.77	+0.030%	$61K	$893K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.84	+0.093%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.78	+0.037%	$5.5M	$40.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.84	+0.090%	$705.3M	$394.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.77	+0.028%	$174.9M	$183.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.87	+0.112%	$15.8M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.72	−0.012%	$974.4M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.73	−0.004%	$366.9M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.88	+0.125%	$229K	$846K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.83	+0.082%	$922K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.05	+0.269%	$134.1M	$22.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.74	+0.005%	$852.6M	$661.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.71	−0.021%	$366.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	+0.003%	$129.1M	$223.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.70	−0.027%	$481.7M	$445.5M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.71	−0.024%	—	$366.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.73	−0.004%	$23.1M	$39.2M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	116.73	long leg	$24.5M	$113.5M	—
edgeX SOLUSDC	+0.0100%	4h	116.91	+0.146%	$93.9M	$399.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.75	+0.013%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.97	+0.204%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.88	+0.125%	$1.3M	$12.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.75	+0.013%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.75	+0.012%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.76	+0.021%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.81	+0.067%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.73	−0.004%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.74	+0.007%	$226.3M	$48.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.76	+0.022%	$45.8M	$103.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.68	−0.048%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.99	+0.219%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.88	+0.128%	—	$231.5M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0137%	1h	116.79	+0.044%	$26.3M	$23.3M	50x	as long as short
Phoenix SOL	+0.0151%	1h	117.04	+0.262%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.72	−0.009%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.90	+0.142%	$52.1M	$67.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.76	+0.019%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.82	+0.076%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0524%	1h	116.88	+0.124%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.86	+0.111%	$1.9M	$4.8M	20x	as long as short