Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0127%/8h= −14.0% APRpaid last 24h −0.037%

Price spread now: Bullet against BloFin−0.153%108s7-day average +0.002% · 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—prices read too far apart to compare

costs, in and out, $10k−$240.236% of the position

Long on BloFin Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.122%−$12 on $10k

Price spread, last 4 days (all we have)+0.280%+$28 · spread now −0.153%, 7d avg +0.002%

Together, before fees+0.158%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bullet is 0.155% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.002%). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SOL-USDT	115.73	0.0220	pay 0.0220% / 8h	2h 27m	$51.5M	$67.7M	125x
Short	Bullet SOL-USD	115.55	0.0093	get 0.0012% / 1h	27m 27s	$147K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against BloFin. 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 BloFinbpFee BulletbpOrdersPrice spread, now −0.153%Rate

Funding earned: −$26.77
Price spread: −0.153% → +0.002%: −$15.51
Slippage, 4 orders: −$3.61
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$65.9
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Bullet: 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 BloFin live order book, 7 min ago	0.43 bp	6.4 bp −$6	6.4 bp −$64	10.2 bp −$1,015	21.5 bp −$10.8K
Sell Bullet live order book, 2 min ago	0.30 bp	5.4 bp −$5	8.7 bp −$87	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	−0.0242%	1h	115.63	−0.087%	$31.6M	$103.2M	100x	as long as short
Hibachi SOL/USDT-P	−0.0176%	1h	115.63	−0.088%	$103K	$693K	20x	as long as short
BingX SOL-USDC	−0.0116%	8h	115.50	−0.196%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0115%	8h	115.52	−0.181%	$738.2M	$1.42B	100x	as long as short
Vest SOL-PERP	−0.0085%	1h	115.58	−0.128%	—	$625K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.02	+0.247%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0073%	1h	115.53	−0.172%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.57	−0.140%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.66	−0.056%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.61	−0.107%	$112K	$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	+0.0012%	1h	115.60	−0.111%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0016%	1h	115.59	−0.121%	$98K	$177K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0027%	1h	115.67	−0.051%	$26.2M	$22.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.66	−0.065%	$7.8M	$402.5M	50x	as long as short
Bitget SOLUSDT	+0.0067%	8h	115.54	−0.162%	$478.0M	$456.0M	100x	as long as short
Bullet SOL-USDshort	+0.0093%	1h	115.55	−0.153%	$147K	$1.6M	20x
Orderly PERP_SOL_USDC	+0.0096%	8h	115.57	−0.139%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.59	−0.118%	$12.9M	$61.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.58	−0.125%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.63	−0.091%	$348K	$247K	20x	as long as short
Aster SOLUSDT	+0.0099%	8h	115.57	−0.138%	$173.9M	$185.0M	100x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.56	−0.147%	$62K	$911K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	115.63	−0.087%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.58	−0.128%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.67	−0.052%	$684.5M	$400.8M	20x	as long as short
Pacifica SOL	+0.0100%	1h	115.63	−0.089%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.55	−0.152%	$960.8M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.53	−0.173%	$360.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.57	−0.138%	$215K	$869K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.59	−0.122%	$912K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.84	+0.096%	$125.6M	$19.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.53	−0.173%	$837.5M	$668.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.57	−0.138%	$353.9M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.56	−0.143%	$124.3M	$229.5M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.65	−0.069%	$22.8M	$39.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.67	−0.054%	$24.7M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.81	+0.066%	$93.0M	$406.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.69	−0.035%	$47.4M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.86	+0.117%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.65	−0.069%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.55	−0.156%	$318K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.55	−0.152%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.63	−0.090%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.62	−0.095%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.60	−0.112%	$223.9M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	115.65	−0.069%	$45.0M	$104.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	115.54	−0.166%	$7.9M	$38.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	115.56	−0.143%	—	$240.0M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.709%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	115.87	+0.121%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.52	−0.178%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	115.73	long leg	$51.5M	$67.7M	125x
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.61	−0.106%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.63	−0.090%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0595%	1h	115.82	+0.076%	$25K	$53K	20x	as long as short