Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Backpack against Arcus−0.040%7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Arcus Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.688%−$69 · spread now −0.040%, 7d avg +0.053%

Together, before fees−0.689%−$69 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: Backpack is 0.093% cheaper against Arcus than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus SOL-USD	118.57	0.0100	pay 0.0013% / 1h	46m 07s	$2.0M	$8.9M	20x
Short	Backpack SOL_USDC_PERP	118.52	0.0100	get 0.0013% / 1h	46m 07s	$24.3M	$37.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Arcus. 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 ArcusbpFee BackpackbpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → +0.053%: −$9.3
Slippage, 4 orders: −$4.17
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$27.97
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Arcus: live order book, 3 min ago; Backpack: live order book, 3 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 Arcus live order book, 3 min ago	0.38 bp	3.4 bp −$3	4.5 bp −$45	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.42 bp	6.9 bp −$7	8.6 bp −$86	11.7 bp −$1,170	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
Vest SOL-PERP	−0.0104%	1h	118.44	−0.109%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.46	−0.094%	$840	$8K	25x	as long as short
Derive SOL-PERP	−0.0045%	1h	118.45	−0.100%	$1.9M	$3.0M	13x	as long as short
dYdX SOL-USD	−0.0043%	1h	118.54	−0.024%	$4.6M	$26.0M	20x	as long as short
Aftermath Perps SOLUSD	−0.0014%	1h	118.44	−0.108%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.53	−0.032%	$57K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.51	−0.046%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.51	−0.046%	$167K	$4.0M	8.3x	as long as short
01 Exchange SOLUSD	+0.0008%	1h	118.52	−0.040%	$106K	$143K	20x	as long as short
HTX SOL-USDT	+0.0041%	8h	118.46	−0.092%	$231.0M	$42.2M	75x	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	+0.0052%	8h	118.53	−0.030%	$1.1M	$5.7M	100x	as long as short
BingX SOL-USDT	+0.0056%	8h	118.51	−0.047%	—	$362.7M	—	as long as short
KuCoin SOLUSDTM	+0.0058%	8h	118.50	−0.058%	$141.3M	$174.3M	75x	as long as short
Bitget SOLUSDT	+0.0072%	8h	118.50	−0.062%	$496.3M	$440.4M	100x	as long as short
Gate SOL_USDT	+0.0080%	8h	118.49	−0.066%	$861.6M	$663.5M	100x	as long as short
OKX SOL-USDT-SWAP	+0.0095%	8h	118.49	−0.066%	$367.8M	$1.68B	100x	as long as short
Lighter SOL	+0.0096%	1h	118.51	−0.046%	$13.3M	$50.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.51	−0.052%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.51	−0.047%	$352K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0096%	8h	118.49	−0.062%	$1.0M	$438K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.50	−0.057%	$43K	$736K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.50	−0.062%	$5.5M	$39.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.61	+0.035%	$714.1M	$424.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.51	−0.049%	$178.5M	$169.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.53	−0.029%	$13.3M	$107.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.50	−0.054%	$971.3M	$3.66B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.53	−0.032%	$819.4M	$1.23B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.38	−0.159%	$234K	$849K	10x	as long as short
Arcus SOL-USDlong	+0.0100%	1h	118.57	long leg	$2.0M	$8.9M	20x
Bulk SOL-USD	+0.0100%	1h	118.34	−0.191%	$131.6M	$15.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.50	−0.057%	$486.8M	$1.03B	300x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	118.52	−0.040%	$24.3M	$37.4M	50x
Variational Omni SOL	+0.0100%	8h	118.52	−0.044%	$28.0M	$118.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.45	−0.095%	$95.1M	$387.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.43	−0.115%	$48.5M	$32.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.41	−0.133%	$1.5M	$6.3M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.43	−0.116%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.51	−0.049%	$358K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.49	−0.062%	$202K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.52	−0.043%	$37K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.50	−0.056%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.50	−0.057%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.53	−0.032%	$46.2M	$96.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.49	−0.069%	$8.6M	$37.2M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	118.56	−0.008%	$8.0M	$403.4M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	118.47	−0.081%	$121K	$562K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.52	−0.041%	—	$208.4M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0131%	1h	118.53	−0.030%	$34.0M	$85.6M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0135%	1h	118.58	+0.012%	$26.7M	$27.2M	50x	as long as short
Phoenix SOL	+0.0149%	1h	118.57	+0.002%	$7.2M	$11.3M	25x	as long as short
RISEx SOL/USDC	+0.0160%	1h	118.57	+0.004%	$1.6M	$6.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	118.50	−0.062%	$1.1M	$554K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.45	−0.100%	$51.6M	$88.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0179%	1h	118.53	−0.035%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0533%	1h	118.29	−0.234%	$4K	$2K	12x	as long as short