Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.009%

Price spread now: Bullet against BingX−0.001%7-day average — · 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−$22as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on BingX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDC	117.59	0.0080	pay 0.0080% / 8h	5h 32m	—	$10.5M	—
Short	Bullet SOL-USD	117.59	0.0100	get 0.0013% / 1h	32m 49s	$200K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against BingX. 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 BingXbpFee BulletbpOrdersPrice spread, now −0.001%Rate

Funding earned: $4.2
Price spread: −0.001% → 0.000%: −$0.06
Slippage, 4 orders: −$3.85
Fee BingX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$17.71
Costs to cover: 0.219%
Break-even: 36.5 days

Slippage from BingX: live order book, 5 min ago; Bullet: 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 BingX live order book, 5 min ago	0.34 bp	6.0 bp −$6	7.7 bp −$77	12.0 bp −$1,202	21.5 bp −$10.7K
Sell Bullet live order book, 1 min ago	0.17 bp	5.3 bp −$5	9.0 bp −$90	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
Hotstuff SOL-PERP	−0.0080%	1h	117.60	+0.006%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0062%	1h	117.51	−0.074%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.61	+0.013%	$31.7M	$98.4M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.52	−0.068%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.61	+0.011%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.51	−0.075%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.59	−0.006%	$1.4M	$19.3M	3.1x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.58	−0.013%	$100K	$163K	20x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	117.50	−0.083%	$104K	$695K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.62	+0.024%	$8.0M	$404.2M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0066%	1h	117.65	+0.044%	$26.4M	$24.9M	50x	as long as short
BingX SOL-USDClong	+0.0080%	8h	117.59	long leg	—	$10.5M	—
HTX SOL-USDT	+0.0081%	8h	117.39	−0.173%	$228.0M	$45.5M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.61	+0.010%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.61	+0.013%	$13.1M	$59.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.60	+0.002%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.60	+0.005%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.53	−0.055%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.61	+0.013%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.51	−0.072%	$5.8M	$39.1M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.64	+0.038%	$176.4M	$178.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.59	−0.001%	$14.5M	$128.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.63	+0.030%	$967.6M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.65	+0.048%	$825.5M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.64	+0.038%	$366.6M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.51	−0.072%	$237K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.57	−0.023%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.44	−0.130%	$135.1M	$16.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.59	−0.004%	$859.2M	$649.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.62	+0.021%	$426.8M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.61	+0.013%	$130.0M	$212.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.62	+0.020%	$487.5M	$432.9M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.62	+0.021%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.44	−0.130%	$24.3M	$116.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.39	−0.175%	$94.3M	$399.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.46	−0.112%	$48.1M	$28.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.45	−0.121%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.42	−0.149%	$1.3M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.60	+0.004%	$353K	$2.4M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	117.59	−0.001%	$200K	$1.6M	20x
Bluefin SOL-PERP	+0.0100%	1h	117.59	−0.004%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.50	−0.081%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.61	+0.013%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.61	+0.013%	$45.8M	$100.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.56	−0.033%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.53	−0.055%	—	$218.8M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.65	+0.047%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.66	+0.052%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0171%	1h	117.75	+0.132%	$719.4M	$392.3M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.59	−0.008%	$1.1M	$526K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	−0.183%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.60	+0.004%	$51.8M	$71.4M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.60	+0.003%	$127K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.60	+0.001%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0390%	1h	117.44	−0.134%	$25K	$51K	20x	as long as short