Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.003%

Price spread now: Paradex against Bulk−0.380%7-day average −0.007% · 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−$61as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Bulk Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.434%+$43 · spread now −0.380%, 7d avg −0.007%

Together, before fees+0.429%+ Points / potential airdropParadex: Active · farm board+$43 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 0.373% cheaper against Bulk than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk SOL-USD	118.93	0.0100	pay 0.0013% / 1h	24m 33s	$133.7M	$5.4M	20x
Short	Paradex SOL-USD-PERP	118.48	0.0099	get 0.0099% / 8h	24m 33s	$1.0M	$522K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Bulk. 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 BulkbpFee ParadexbpOrdersPrice spread, now −0.380%Rate

Funding earned: −$0.13
Price spread: −0.380% → −0.007%: −$37.29
Slippage, 4 orders: −$12.28
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$60.71
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from Bulk: live order book, 5 min ago; Paradex: 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 Bulk live order book, 5 min ago	4.21 bp	7.7 bp −$8	7.7 bp −$77	7.7 bp −$771	11.1 bp −$5,530
Sell Paradex live order book, 5 min ago	1.93 bp	3.9 bp −$4	10.3 bp −$103	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	118.44	−0.411%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.42	−0.433%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0069%	1h	118.48	−0.381%	$2.0M	$2.8M	13x	as long as short
dYdX SOL-USD	−0.0014%	1h	118.51	−0.351%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.55	−0.321%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.61	−0.271%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.45	−0.400%	$175K	$4.0M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0019%	1h	118.84	−0.076%	$1.5M	$6.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0032%	1h	118.63	−0.253%	$26.6M	$26.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0075%	8h	118.55	−0.320%	$1.0M	$5.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SOL_USDT	+0.0079%	8h	118.47	−0.387%	$860.1M	$681.8M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.48	−0.379%	$103K	$157K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.45	−0.407%	—	$372.7M	—	as long as short
HTX SOL-USDT	+0.0084%	8h	118.44	−0.413%	$230.6M	$45.1M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.50	−0.362%	$13.4M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.46	−0.394%	$2.2M	$17.0M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.72	−0.174%	$119K	$629K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.54	−0.331%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.58	−0.292%	$8.1M	$415.3M	50x	as long as short
Paradex SOL-USD-PERPshort	+0.0099%	8h	118.48	−0.380%	$1.0M	$522K	50x
Katana Perps SOL-USD	+0.0100%	8h	118.40	−0.446%	$45K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.48	−0.375%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.53	−0.337%	$717.3M	$408.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.42	−0.428%	$177.3M	$178.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.49	−0.371%	$12.2M	$121.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.43	−0.418%	$977.4M	$3.83B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.44	−0.412%	$821.6M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.40	−0.446%	$368.0M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.42	−0.429%	$232K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.48	−0.379%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USDlong	+0.0100%	1h	118.93	long leg	$133.7M	$5.4M	20x
MEXC SOL_USDT	+0.0100%	8h	118.53	−0.337%	$428.4M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.44	−0.409%	$137.6M	$205.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.41	−0.438%	$490.7M	$460.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.55	−0.320%	$24.1M	$38.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.69	−0.201%	$27.1M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.84	−0.073%	$95.5M	$400.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.79	−0.121%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.73	−0.169%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.41	−0.438%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.44	−0.416%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.53	−0.338%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.51	−0.350%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.56	−0.312%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.56	−0.312%	$46.3M	$103.0M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.92	−0.009%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.41	−0.441%	$8.7M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.59	−0.287%	$32.4M	$97.4M	100x	as long as short
Aftermath Perps SOLUSD	+0.0111%	1h	118.88	−0.046%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.66	−0.226%	—	$226.2M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0168% / S −0.0066%	1h	118.54	−0.326%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	−0.017%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.40	−0.442%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.57	−0.303%	$52.2M	$80.4M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.46	−0.393%	$1.6M	$5.2M	20x	as long as short