Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against Binance+0.035%7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Binance Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days−0.897%−$90 · spread now +0.035%, 7d avg +0.110%

Together, before fees−0.820%−$82 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 0.075% cheaper against Binance than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SOLUSDT	116.60	0.0100	pay 0.0100% / 8h	43m 03s	$965.3M	$3.86B	100x
Short	Backpack SOL_USDC_PERP	116.64	0.0100	get 0.0013% / 1h	43m 03s	$23.1M	$35.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → +0.110%: −$7.47
Slippage, 4 orders: −$2.91
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$30.38
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; Backpack: 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 Binance live order book, 16 min ago	0.43 bp	5.4 bp −$5	5.6 bp −$56	9.2 bp −$924	19.4 bp −$9,703
Sell Backpack live order book, 1 min ago	0.43 bp	6.6 bp −$7	8.2 bp −$82	10.8 bp −$1,080	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	−0.0153%	1h	116.66	+0.049%	$32.3M	$106.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0152%	1h	116.75	+0.130%	$96K	$681K	20x	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.59	−0.006%	$736.7M	$1.43B	100x	as long as short
Derive SOL-PERP	−0.0093%	1h	116.59	−0.010%	$1.9M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.67	+0.064%	$1K	$8K	25x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.85	+0.215%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0047%	1h	116.67	+0.062%	—	$631K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.69	+0.078%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.73	+0.112%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.67	+0.059%	$106K	$3.5M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0008%	1h	116.62	+0.015%	$2.2M	$16.7M	25x	as long as short
dYdX SOL-USD	+0.0009%	1h	116.70	+0.084%	$4.3M	$23.6M	20x	as long as short
Bitget SOLUSDT	+0.0028%	8h	116.61	+0.008%	$481.1M	$457.8M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0031%	1h	116.71	+0.098%	$26.4M	$21.9M	50x	as long as short
SoDEX SOL-USD	+0.0034%	1h	116.63	+0.027%	$6.1M	$11.0M	20x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.73	+0.113%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.66	+0.050%	$8.0M	$401.8M	50x	as long as short
Aster SOLUSDT	+0.0061%	8h	116.60	+0.002%	$177.0M	$168.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0076%	8h	116.65	+0.042%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.70	+0.087%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.64	+0.035%	$13.2M	$60.4M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.63	+0.026%	$351K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.67	+0.061%	$66K	$909K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.69	+0.083%	$5.4M	$41.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.75	+0.130%	$703.9M	$408.1M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	+0.111%	$15.7M	$130.4M	20x	as long as short
Binance SOLUSDTlong	+0.0100%	8h	116.60	long leg	$965.3M	$3.86B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.62	+0.018%	$368.2M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.65	+0.044%	$217K	$832K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.72	+0.106%	$901K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.041%	$125.5M	$25.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.64	+0.035%	$850.4M	$659.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.62	+0.018%	$367.5M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.65	+0.042%	$132.4M	$233.7M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.63	+0.023%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	116.64	+0.035%	$23.1M	$35.9M	50x
Variational Omni SOL	+0.0100%	8h	116.71	+0.097%	$25.0M	$108.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.73	+0.108%	$93.7M	$406.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.72	+0.101%	$47.8M	$29.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.70	+0.090%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.70	+0.087%	$1.3M	$11.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.69	+0.078%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.68	+0.071%	$243K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.68	+0.070%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.67	+0.064%	$190K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.64	+0.036%	$225.8M	$50.6M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.65	+0.044%	$45.4M	$104.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.61	+0.013%	$8.2M	$37.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.71	+0.099%	—	$233.7M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.80	+0.173%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.65	+0.045%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.66	+0.053%	$52.1M	$66.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.70	+0.090%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0482%	1h	116.74	+0.118%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.76	+0.137%	$2.1M	$4.8M	20x	as long as short