Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0213%/8h= +23.3% APRpaid last 24h −0.001%

Price spread now: Bullet against Bybit+0.029%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Bybit Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days−0.027%−$3 · spread now +0.029%, 7d avg +0.020%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.006% in total (about 0.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	116.62	−0.0113	get 0.0113% / 8h	1h 05m	$738.8M	$1.43B	100x
Short	Bullet SOL-USD	116.65	0.0100	get 0.0013% / 1h	5m 13s	$242K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Bybit. 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 BybitbpFee BulletbpOrdersPrice spread, now +0.029%Rate

Funding earned: $44.71
Price spread: +0.029% → +0.020%: $0.95
Slippage, 4 orders: −$5.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bullet: 4 bp × 2 orders: −$8
Net: $21.51
Costs to cover: 0.241%
Break-even: 3.6 days

Slippage from Bybit: live order book, 4 min ago; Bullet: live order book, 4 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 Bybit live order book, 4 min ago	0.43 bp	5.9 bp −$6	6.5 bp −$65	10.4 bp −$1,042	22.9 bp −$11.4K
Sell Bullet live order book, 4 min ago	0.43 bp	6.0 bp −$6	10.5 bp −$105	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
Hibachi SOL/USDT-P	−0.0208%	1h	116.77	+0.128%	$97K	$678K	20x	as long as short
Bybit SOLUSDTlong	−0.0113%	8h	116.62	long leg	$738.8M	$1.43B	100x
Hotstuff SOL-PERP	−0.0080%	1h	116.75	+0.115%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.66	+0.035%	$32.3M	$106.2M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.70	+0.065%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0046%	1h	116.64	+0.017%	—	$634K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.66	+0.034%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.73	+0.093%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.68	+0.053%	$106K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0016%	1h	116.70	+0.066%	$4.3M	$23.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0037%	8h	116.62	−0.002%	$480.7M	$459.2M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.68	+0.051%	$99K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.66	+0.037%	$8.0M	$402.7M	50x	as long as short
Lighter RH SOL	+0.0056%	1h	116.62	0.000%	$2.2M	$17.0M	25x	as long as short
SoDEX SOL-USD	+0.0075%	1h	116.63	+0.009%	$6.1M	$11.0M	20x	as long as short
Aster SOLUSDT	+0.0075%	8h	116.63	+0.009%	$176.5M	$169.6M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	116.63	+0.009%	$1.0M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0085%	1h	116.71	+0.074%	$26.4M	$21.7M	50x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.63	+0.009%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.64	+0.019%	$13.2M	$61.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.62	−0.002%	$351K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.61	−0.009%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.63	+0.009%	$5.6M	$41.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.76	+0.120%	$701.7M	$408.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.69	+0.058%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.63	+0.008%	$966.8M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.64	+0.017%	$367.7M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.64	+0.017%	$217K	$837K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.66	+0.035%	$900K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.060%	$125.4M	$26.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.64	+0.017%	$850.0M	$676.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.63	+0.009%	$370.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.64	+0.015%	$133.0M	$233.1M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.63	+0.011%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.64	+0.017%	$23.1M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.69	+0.064%	$25.1M	$110.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.57	−0.046%	$93.6M	$408.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.63	+0.008%	$47.7M	$29.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.65	+0.026%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.66	+0.034%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.64	+0.017%	$313K	$2.8M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	116.65	+0.029%	$242K	$1.7M	20x
Bluefin SOL-PERP	+0.0100%	1h	116.65	+0.024%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.64	+0.018%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.62	−0.002%	$225.8M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.64	+0.017%	$45.4M	$104.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.59	−0.028%	$8.0M	$38.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.67	+0.045%	—	$233.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.62	0.000%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.73	+0.094%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.61	−0.007%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.63	+0.009%	$52.1M	$66.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.66	+0.033%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.72	+0.086%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0488%	1h	116.72	+0.082%	$25K	$57K	20x	as long as short