Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0195%/8h= −21.3% APRpaid last 24h −0.058%

Price spread now: Deribit against BloFin+0.048%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

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

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now +0.048%, 7d avg +0.023%

Together, before fees−0.234%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.025% dearer against BloFin than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of +0.023%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SOL-USDT	117.69	0.0220	pay 0.0220% / 8h	5h 09m	$51.9M	$71.6M	125x
Short	Deribit SOL_USDC-PERPETUAL	117.75	0.0025	get 0.0003% / 1h	9m 07s	$26.4M	$24.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$40.9
Price spread: +0.048% → +0.023%: $2.52
Slippage, 4 orders: −$4.58
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$61.96
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Deribit: live order book, 5 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, 5 min ago	0.42 bp	6.4 bp −$6	6.7 bp −$67	8.5 bp −$851	17.1 bp −$8,566
Sell Deribit live order book, 5 min ago	0.04 bp	5.2 bp −$5	5.6 bp −$56	14.3 bp −$1,428	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	117.81	+0.105%	$921	$8K	25x	as long as short
Vest SOL-PERP	−0.0071%	1h	117.69	+0.002%	—	$605K	20x	as long as short
Bluefin SOL-PERP	−0.0062%	1h	117.70	+0.006%	$25K	$28K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.70	+0.008%	$31.6M	$98.9M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.63	−0.050%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.71	+0.017%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.74	+0.042%	$4.5M	$24.1M	20x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0025%	1h	117.75	+0.048%	$26.4M	$24.9M	50x
Hibachi SOL/USDT-P	+0.0032%	1h	117.88	+0.161%	$105K	$696K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.75	+0.051%	$100K	$166K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.73	+0.032%	$7.9M	$404.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.71	+0.018%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.69	+0.003%	$13.2M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.67	−0.013%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.71	+0.017%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.72	+0.025%	$54K	$852K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.78	+0.077%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.78	+0.076%	$5.8M	$38.8M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.70	+0.006%	$177.2M	$180.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.78	+0.074%	$14.5M	$128.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.66	−0.026%	$970.0M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.68	−0.008%	$829.5M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.67	−0.017%	$366.0M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.91	+0.187%	$234K	$864K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.75	+0.053%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.233%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.69	0.000%	$859.6M	$655.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.69	0.000%	$424.8M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.72	+0.023%	$130.6M	$213.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.68	−0.009%	$487.7M	$431.7M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.69	+0.002%	—	$363.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.70	+0.008%	$23.7M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.77	+0.070%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.72	+0.023%	$94.6M	$391.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.93	+0.204%	$48.3M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.83	+0.119%	$1.7M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.96	+0.229%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.73	+0.034%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.74	+0.043%	$200K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.73	+0.036%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.70	+0.008%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.75	+0.051%	$228.7M	$45.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.72	+0.025%	$45.9M	$100.5M	50x	as long as short
Kalshi KXSOLPERP	+0.0103%	8h	117.78	+0.077%	$1.4M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.67	−0.018%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.78	+0.080%	—	$215.7M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.99	+0.255%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.80	+0.091%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0174%	1h	117.81	+0.102%	$720.8M	$387.4M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.69	−0.003%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.170%	$4K	$2K	12x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	117.69	long leg	$51.9M	$71.6M	125x
Perpl SOL	+0.0223%	43m	117.81	+0.099%	$128K	$3.7M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.73	+0.032%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0412%	1h	117.85	+0.139%	$25K	$52K	20x	as long as short