Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Paradex against Backpack−0.085%7-day average −0.118% · 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−$15as in the Price arb table

costs, in and out, $10k−$180.185% of the position

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 7 days+0.335%+$33 · spread now −0.085%, 7d avg −0.118%

Together, before fees+0.328%+ Points / potential airdropParadex: Active · farm board+$33 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: Paradex is 0.034% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	117.08	0.0100	pay 0.0013% / 1h	53m 00s	$23.3M	$39.1M	50x
Short	Paradex SOL-USD-PERP	116.98	0.0100	get 0.0100% / 8h	3h 53m	$1.0M	$550K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$0.04
Price spread: −0.085% → −0.118%: $3.39
Slippage, 4 orders: −$4.48
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$15.14
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Backpack: live order book, 6 min ago; Paradex: live order book, 1 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, 6 min ago	0.43 bp	5.4 bp −$5	6.7 bp −$67	8.7 bp −$865	1987.4 bp −$993.7K
Sell Paradex live order book, 1 min ago	1.58 bp	3.6 bp −$4	8.8 bp −$88	doesn't fit	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
Kraken Futures PF_SOLUSD	−0.0192%	1h	117.08	−0.003%	$31.2M	$100.8M	100x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	116.92	−0.133%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0095%	1h	116.92	−0.140%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.84	−0.201%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.04	−0.035%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.80	−0.237%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0006%	1h	116.94	−0.120%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	117.00	−0.066%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	117.09	+0.008%	$7.5M	$405.9M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	117.08	−0.002%	$1.0M	$5.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SOL	+0.0096%	1h	117.07	−0.009%	$13.1M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.07	−0.009%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.00	−0.068%	$99K	$174K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.07	−0.007%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.89	−0.162%	$50K	$882K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0100%	8h	116.98	−0.085%	$1.0M	$550K	50x
Nado SOL-PERP	+0.0100%	1h	116.94	−0.118%	$5.5M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.16	+0.068%	$707.4M	$393.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.05	−0.026%	$175.3M	$182.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.96	−0.099%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.07	−0.011%	$976.9M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.98	−0.088%	$775.8M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.06	−0.017%	$368.9M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.77	−0.265%	$231K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.97	−0.091%	$926K	$8.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.06	−0.017%	$849.7M	$655.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.07	−0.009%	$367.6M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.05	−0.023%	$129.4M	$222.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.02	−0.054%	$480.9M	$442.3M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.02	−0.052%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	117.08	long leg	$23.3M	$39.1M	50x
Variational Omni SOL	+0.0100%	8h	116.63	−0.380%	$24.5M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.75	−0.278%	$93.7M	$398.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.61	−0.401%	$47.7M	$30.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.90	−0.151%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.86	−0.188%	$1.3M	$12.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.00	−0.068%	$323K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.03	−0.041%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.05	−0.026%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.04	−0.036%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.06	−0.017%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.98	−0.083%	$226.9M	$47.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.05	−0.026%	$45.8M	$102.6M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.90	−0.154%	$134.0M	$22.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.99	−0.075%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	−0.307%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.76	−0.277%	—	$231.4M	500x	as long as short
Phoenix SOL	+0.0151%	1h	117.05	−0.026%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.98	−0.084%	$1.1M	$541K	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0203%	1h	117.11	+0.026%	$26.4M	$23.3M	50x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.08	0.000%	$52.1M	$67.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	117.04	−0.036%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.98	−0.081%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0533%	1h	116.84	−0.201%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	117.03	−0.039%	$1.9M	$4.8M	20x	as long as short