Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Phemex against Arcus+0.073%7-day average −0.029% · 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−$12as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Arcus Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%$0 on $10k

Price spread, last 3 days (all we have)−0.182%−$18 · spread now +0.073%, 7d avg −0.029%

Together, before fees−0.187%−$19 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 0.102% dearer against Arcus than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus SOL-USD	118.47	0.0100	pay 0.0013% / 1h	24m 56s	$1.9M	$9.0M	20x
Short	Phemex SOLUSDT	118.56	0.0100	get 0.0100% / 8h	24m 56s	$46.3M	$103.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → −0.029%: $10.24
Slippage, 4 orders: −$5.32
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$11.58
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from Arcus: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	0.25 bp	3.5 bp −$3	3.9 bp −$39	8.6 bp −$860	doesn't fit
Sell Phemex live order book, 4 min ago	0.42 bp	7.8 bp −$8	8.9 bp −$89	16.5 bp −$1,648	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
Hotstuff SOL-PERP	−0.0080%	1h	118.62	+0.127%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0075%	1h	118.49	+0.012%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0069%	1h	118.48	+0.003%	$2.0M	$2.8M	13x	as long as short
dYdX SOL-USD	−0.0015%	1h	118.43	−0.036%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.55	+0.064%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.61	+0.114%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.51	+0.030%	$175K	$4.0M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0019%	1h	118.84	+0.310%	$1.5M	$6.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0032%	1h	118.63	+0.132%	$26.6M	$26.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0075%	8h	118.55	+0.065%	$1.0M	$5.9M	100x	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	118.49	+0.014%	$103K	$158K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.48	+0.008%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0081%	8h	118.50	+0.023%	$860.3M	$681.7M	100x	as long as short
HTX SOL-USDT	+0.0084%	8h	118.44	−0.029%	$230.6M	$45.1M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.56	+0.075%	$13.4M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.56	+0.071%	$2.2M	$17.0M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.72	+0.211%	$119K	$629K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.54	+0.054%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.58	+0.093%	$8.1M	$415.3M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.43	−0.037%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.38	−0.078%	$45K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.49	+0.019%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.61	+0.112%	$717.7M	$408.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.51	+0.031%	$177.5M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.48	+0.008%	$12.2M	$121.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.53	+0.045%	$978.2M	$3.83B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.53	+0.051%	$822.4M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.49	+0.014%	$368.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.38	−0.078%	$232K	$872K	10x	as long as short
Arcus SOL-USDlong	+0.0100%	1h	118.47	long leg	$1.9M	$9.0M	20x
Bulk SOL-USD	+0.0100%	1h	118.93	+0.386%	$133.7M	$5.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.53	+0.048%	$428.4M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.50	+0.026%	$137.7M	$205.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.48	+0.003%	$491.0M	$460.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.55	+0.065%	$24.1M	$38.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.69	+0.184%	$27.1M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.84	+0.313%	$95.5M	$400.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.79	+0.265%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.73	+0.217%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.48	+0.006%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.53	+0.048%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.53	+0.047%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.51	+0.035%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.56	+0.073%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	118.56	+0.073%	$46.3M	$103.0M	50x
Phoenix SOL	+0.0100%	1h	118.92	+0.377%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.49	+0.018%	$8.7M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.59	+0.098%	$32.4M	$97.4M	100x	as long as short
Aftermath Perps SOLUSD	+0.0111%	1h	118.88	+0.340%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.66	+0.159%	—	$226.2M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0168% / S −0.0066%	1h	118.54	+0.059%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.369%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.48	+0.004%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.57	+0.082%	$52.2M	$80.4M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.45	−0.016%	$1.6M	$5.2M	20x	as long as short