Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Arcus against Backpack+0.069%7-day average −0.085% · 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−$1as in the Price arb table

costs, in and out, $10k−$170.169% of the position

Long on Backpack Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.634%+$63 · spread now +0.069%, 7d avg −0.085%

Together, before fees+0.635%+$63 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: Arcus is 0.155% dearer against Backpack than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	116.67	0.0100	pay 0.0013% / 1h	22m 28s	$22.9M	$37.0M	50x
Short	Arcus SOL-USD	116.75	0.0100	get 0.0013% / 1h	22m 28s	$943K	$8.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Backpack. 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 BackpackbpFee ArcusbpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → −0.085%: $15.48
Slippage, 4 orders: −$2.44
Fee Backpack: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$1.45
Costs to cover: 0.169%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; Arcus: live order book, 2 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 Backpack live order book, 2 min ago	0.43 bp	5.4 bp −$5	6.1 bp −$61	8.8 bp −$883	2022.3 bp −$1.01M
Sell Arcus live order book, 2 min ago	0.04 bp	2.3 bp −$2	3.5 bp −$35	7.6 bp −$760	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	116.67	+0.003%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	115.82	−0.725%	$1.8M	$2.9M	13x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.74	+0.058%	$32.4M	$103.8M	100x	as long as short
Bybit SOLUSDT	−0.0029%	8h	116.68	+0.010%	$730.1M	$1.37B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.64	−0.026%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.66	−0.007%	$1.4M	$19.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.64	−0.022%	$100K	$3.2M	8.3x	as long as short
Vest SOL-PERP	+0.0003%	1h	116.67	−0.004%	—	$640K	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.69	+0.020%	$481.9M	$438.9M	100x	as long as short
dYdX SOL-USD	+0.0039%	1h	116.76	+0.077%	$7.6M	$24.4M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.72	+0.047%	$7.8M	$389.8M	50x	as long as short
Aster SOLUSDT	+0.0052%	8h	116.73	+0.051%	$177.1M	$168.9M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	116.66	−0.009%	$1.0M	$5.7M	100x	as long as short
Phemex SOLUSDT	+0.0069%	8h	116.65	−0.017%	$45.3M	$102.9M	50x	as long as short
Gate SOL_USDT	+0.0079%	8h	116.73	+0.051%	$845.0M	$617.5M	100x	as long as short
SoDEX SOL-USD	+0.0087%	1h	116.69	+0.017%	$6.0M	$11.1M	20x	as long as short
Lighter SOL	+0.0096%	1h	116.73	+0.053%	$13.2M	$56.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.71	+0.034%	$2.2M	$14.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.64	−0.029%	$352K	$240K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	116.73	+0.054%	$1.0M	$553K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.70	+0.026%	$59K	$897K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.73	+0.056%	$5.4M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.84	+0.146%	$701.8M	$387.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.77	+0.085%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.72	+0.043%	$962.8M	$3.79B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.71	+0.034%	$366.3M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.67	0.000%	$217K	$847K	10x	as long as short
Arcus SOL-USDshort	+0.0100%	1h	116.75	+0.069%	$943K	$8.4M	20x
MEXC SOL_USDT	+0.0100%	8h	116.72	+0.043%	$410.2M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	+0.059%	$130.2M	$236.8M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.72	+0.039%	—	$368.2M	—	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	116.67	long leg	$22.9M	$37.0M	50x
Variational Omni SOL	+0.0100%	8h	115.98	−0.589%	$24.7M	$104.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.15	−0.450%	$93.3M	$405.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.18	−0.417%	$47.6M	$27.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.01	−0.569%	$1.1M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.31	−0.309%	$1.3M	$10.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.74	+0.060%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.77	+0.086%	$282K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.51	−0.134%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.63	−0.031%	$225.8M	$50.2M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.76	−0.783%	$125.0M	$25.2M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.70	+0.024%	$8.1M	$35.5M	50x	as long as short
01 Exchange SOLUSD	+0.0104%	1h	116.76	+0.077%	$100K	$184K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.55	−0.099%	—	$227.4M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.08	−0.506%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0138%	1h	116.75	+0.069%	$26.2M	$21.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0144%	1h	116.67	−0.004%	$104K	$677K	20x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.283%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.69	+0.021%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.66	−0.009%	$52.3M	$62.3M	125x	as long as short
Bluefin SOL-PERP	+0.0229%	1h	116.64	−0.022%	$27K	$36K	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.66	−0.011%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0403%	1h	116.24	−0.368%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.77	+0.089%	$2.2M	$4.8M	20x	as long as short