Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:05 UTC+0.0235%/8h= +25.7% APRpaid last 24h +0.008%

Price spread now: Perpl against ApeX Omni−0.067%65s7-day average −0.018% · you buy dearer than you sell

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

Long on ApeX Omni Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.067%, 7d avg −0.018%

Together, before fees+0.076%+ Points / potential airdropPerpl: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Perpl is 0.049% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.018%). If the spread goes back, that is −$5 on $10k: about 17 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.004% in total) that is about 3 months. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.004% in total (about 0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SOLUSDT	116.81	0.0100	pay 0.0013% / 1h	22m 23s	$1.3M	$6.7M	50x
Short	Perpl SOL	116.73	0.0335	get 0.0030% / 43m	36m 23s	$139K	$3.7M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against ApeX 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 ApeX OmnibpFee PerplbpOrdersPrice spread, now −0.067%Rate

Funding earned: $49.33
Price spread: −0.067% → −0.018%: −$4.91
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $20.61
Costs to cover: 0.238%
Break-even: 4.1 days

Slippage unknown: ApeX Omni: live order book, 2 min ago; Perpl: 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 ApeX Omni live order book, 2 min ago	0.86 bp	5.9 bp −$6	8.4 bp −$84	69.0 bp −$6,902	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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
Hibachi SOL/USDT-P	−0.0128%	1h	116.68	−0.111%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.67	−0.121%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.68	−0.113%	$912	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.69	−0.103%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.71	−0.082%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.70	−0.094%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0022%	1h	116.63	−0.151%	$1.9M	$2.9M	13x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.79	−0.017%	$99K	$172K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.70	−0.097%	$7.5M	$405.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.69	−0.103%	$31.1M	$100.2M	100x	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	+0.0091%	8h	116.68	−0.108%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.70	−0.098%	$13.1M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.69	−0.106%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.68	−0.111%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.70	−0.094%	$51K	$868K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.77	−0.036%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.68	−0.113%	$5.3M	$39.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.84	+0.026%	$705.3M	$395.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.73	−0.072%	$174.9M	$182.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	−0.067%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.70	−0.094%	$970.1M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.63	−0.154%	$782.7M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.75	−0.051%	$369.5M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.71	−0.086%	$231K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.77	−0.037%	$929K	$9.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.68	−0.111%	$842.3M	$662.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.72	−0.077%	$388.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	−0.057%	$128.0M	$219.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.73	−0.070%	$479.6M	$441.5M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.67	−0.117%	—	$365.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.68	−0.111%	$23.3M	$38.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.61	−0.168%	$24.3M	$113.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.72	−0.076%	$93.7M	$398.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.73	−0.072%	$47.7M	$30.0M	20x	as long as short
ApeX Omni SOLUSDTlong	+0.0100%	1h	116.81	long leg	$1.3M	$6.7M	50x
StandX SOL-USD	+0.0100%	1h	116.69	−0.103%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.74	−0.060%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.67	−0.116%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.66	−0.127%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.64	−0.143%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.69	−0.103%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.60	−0.178%	$226.3M	$47.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.69	−0.103%	$45.6M	$102.1M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	−0.094%	$133.2M	$21.0M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.70	−0.092%	$8.3M	$37.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.75	−0.054%	—	$231.0M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0123%	1h	116.74	−0.057%	$26.4M	$25.4M	50x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.73	−0.068%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.83	+0.017%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.69	−0.100%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.69	−0.103%	$51.8M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0181%	1h	116.69	−0.105%	$3.6M	—	200x	as long as short
Perpl SOLshort	+0.0335%	43m	116.73	−0.067%	$139K	$3.7M	8.3x
Aftermath Perps SOLUSD	+0.0526%	1h	116.76	−0.040%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.82	+0.009%	$1.9M	$4.9M	20x	as long as short