Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.036%

Price spread now: BloFin against Backpack+0.009%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.161%+$16 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.009%, 7d avg −0.007%

Together, before fees+0.050%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.007%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	116.49	0.0100	pay 0.0013% / 1h	16m 25s	$23.0M	$38.1M	50x
Short	BloFin SOL-USDT	116.50	0.0220	get 0.0220% / 8h	2h 16m	$51.8M	$68.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.009%Rate

Funding earned: $25.2
Price spread: +0.009% → −0.007%: $1.52
Slippage, 4 orders: −$3.88
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $0.84
Costs to cover: 0.259%
Break-even: 6.8 days

Slippage from Backpack: live order book, 3 min ago; BloFin: 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 Backpack live order book, 3 min ago	0.43 bp	5.4 bp −$5	5.4 bp −$54	6.9 bp −$692	1550.8 bp −$775.4K
Sell BloFin live order book, 3 min ago	0.86 bp	6.9 bp −$7	8.4 bp −$84	12.1 bp −$1,205	18.3 bp −$9,172

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
Kraken Futures PF_SOLUSD	−0.0240%	1h	116.53	+0.031%	$31.9M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0120%	1h	116.54	+0.042%	$104K	$693K	20x	as long as short
BingX SOL-USDC	−0.0112%	8h	116.47	−0.021%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0107%	8h	116.52	+0.026%	$740.8M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.52	+0.027%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0050%	1h	116.52	+0.026%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0011%	1h	116.45	−0.033%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.52	+0.026%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.55	+0.051%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.53	+0.030%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0009%	1h	116.49	−0.003%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.56	+0.060%	$100K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.54	+0.045%	$7.7M	$405.6M	50x	as long as short
Bitget SOLUSDT	+0.0064%	8h	116.51	+0.019%	$480.0M	$460.5M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	116.53	+0.038%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.50	+0.009%	$13.0M	$61.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.49	−0.003%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.52	+0.023%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.49	0.000%	$64K	$912K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.54	+0.044%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.52	+0.026%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.64	+0.125%	$696.8M	$406.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.54	+0.043%	$175.7M	$176.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.54	+0.044%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.54	+0.043%	$972.2M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.53	+0.034%	$364.3M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.40	−0.077%	$217K	$878K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.54	+0.045%	$912K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.85	−0.548%	$123.9M	$22.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.50	+0.009%	$842.8M	$673.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.54	+0.043%	$354.1M	$1.09B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.53	+0.033%	$126.7M	$230.6M	75x	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	116.49	long leg	$23.0M	$38.1M	50x
Variational Omni SOL	+0.0100%	8h	115.99	−0.425%	$24.8M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.07	−0.364%	$93.2M	$407.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.40	−0.076%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.44	−0.039%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.51	+0.017%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.52	+0.026%	$319K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.51	+0.014%	$167K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.54	+0.039%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.52	+0.023%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.52	+0.026%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.53	+0.036%	$225.7M	$50.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.50	+0.009%	$45.3M	$105.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.47	−0.014%	$8.0M	$39.3M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0108%	1h	116.58	+0.077%	$26.3M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.53	+0.030%	—	$239.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.713%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.37	−0.103%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	116.51	+0.015%	$1.1M	$543K	25x	as long as short
BloFin SOL-USDTshort	+0.0220%	8h	116.50	+0.009%	$51.8M	$68.2M	125x
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.51	+0.019%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.60	+0.091%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0553%	1h	116.25	−0.208%	$25K	$55K	20x	as long as short