Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: Phemex against 01 Exchange+0.017%7-day average −0.026% · 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−$29as in the Price arb table

costs, in and out, $10k−$340.335% of the position

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$3 on $10k

Price spread, last 3 days (all we have)−0.136%−$14 · spread now +0.017%, 7d avg −0.026%

Together, before fees−0.161%−$16 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 0.043% dearer against 01 Exchange than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange SOLUSD	117.49	0.0096	pay 0.0012% / 1h	7m 36s	$104K	$157K	20x
Short	Phemex SOLUSDT	117.51	0.0100	get 0.0100% / 8h	6h 07m	$45.7M	$101.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0.84
Price spread: +0.017% → −0.026%: $4.33
Slippage, 4 orders: −$14.52
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$28.35
Costs to cover: 0.335%
Break-even: 243.2 days

Slippage from 01 Exchange: live order book, 62 min ago; Phemex: live order book, 7 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 01 Exchange live order book, 62 min ago	1.26 bp	7.9 bp −$8	15.3 bp −$153	doesn't fit	doesn't fit
Sell Phemex live order book, 7 min ago	1.27 bp	7.6 bp −$8	9.4 bp −$94	17.3 bp −$1,732	doesn't fit

SOL on 54 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	117.58	+0.078%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0061%	1h	117.37	−0.102%	—	$607K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.52	+0.026%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.53	+0.034%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.53	+0.036%	$1.4M	$20.6M	3.1x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0018%	1h	117.57	+0.071%	$26.4M	$25.5M	50x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.54	+0.041%	$1.9M	$4.8M	20x	as long as short
Derive SOL-PERP	+0.0021%	1h	117.47	−0.021%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-P	+0.0040%	1h	117.43	−0.055%	$100K	$690K	20x	as long as short
HTX SOL-USDT	+0.0046%	8h	117.46	−0.027%	$228.1M	$45.4M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.47	−0.015%	$31.5M	$98.7M	100x	as long as short
Gate SOL_USDT	+0.0051%	8h	117.55	+0.051%	$847.7M	$666.7M	100x	as long as short
ApeX Omni SOLUSDT	+0.0056%	1h	117.47	−0.017%	$1.5M	$6.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.48	−0.007%	$8.0M	$406.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.50	+0.008%	—	$369.1M	—	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.55	+0.047%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.54	+0.045%	$13.1M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.54	+0.043%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSDlong	+0.0096%	1h	117.49	long leg	$104K	$157K	20x
Aevo SOL-PERP	+0.0096%	1h	117.53	+0.036%	$344K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.48	−0.006%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.48	−0.009%	$67K	$846K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.38	−0.089%	$5.8M	$41.1M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.52	+0.026%	$176.4M	$178.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.56	+0.064%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.53	+0.036%	$968.7M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.53	+0.037%	$820.6M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.49	0.000%	$366.5M	$1.65B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.31	−0.153%	$238K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.51	+0.020%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.53	+0.030%	$134.5M	$13.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.51	+0.017%	$423.6M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.55	+0.053%	$130.5M	$211.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.49	−0.003%	$487.0M	$437.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.53	+0.034%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.49	+0.004%	$24.3M	$121.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.52	+0.026%	$94.4M	$403.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.53	+0.033%	$48.1M	$28.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.40	−0.077%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.44	−0.043%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.52	+0.023%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.52	+0.025%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.45	−0.031%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.53	+0.034%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.51	+0.017%	$45.7M	$101.1M	50x
Phoenix SOL	+0.0101%	1h	117.64	+0.128%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.48	−0.010%	$8.1M	$36.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.47	−0.020%	—	$224.4M	500x	as long as short
Hyperliquid SOL	+0.0117%	1h	117.65	+0.136%	$719.5M	$393.6M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.45	−0.033%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	+0.323%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.51	+0.017%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0348%	1h	117.57	+0.071%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.40	−0.079%	$128K	$3.8M	8.3x	as long as short