Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.015%

Price spread now: Coinbase International against Bybit+0.049%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.242% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)−0.219%−$22 · spread now +0.049%, 7d avg +0.011%

Together, before fees−0.137%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.038% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	117.02	−0.0047	get 0.0047% / 8h	6h 19m	$733.6M	$1.27B	100x
Short	Coinbase International SOL-PERP-INTX	117.08	0.0040	get 0.0005% / 1h	19m 22s	$8.4M	$374.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.049%Rate

Funding earned: $18.18
Price spread: +0.049% → +0.011%: $3.81
Slippage, 4 orders: −$3.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$2.23
Costs to cover: 0.242%
Break-even: 7.9 days

Slippage from Bybit: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	0.43 bp	5.9 bp −$6	6.3 bp −$63	9.8 bp −$976	20.6 bp −$10.3K
Sell Coinbase International live order book, 3 min ago	0.04 bp	7.2 bp −$7	10.9 bp −$109	17.7 bp −$1,773	doesn't fit

SOL on 54 exchanges

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
Bluefin SOL-PERP	−0.0773%	1h	117.05	+0.026%	$27K	$35K	25x	as long as short
Hibachi SOL/USDT-P	−0.0176%	1h	117.12	+0.081%	$99K	$649K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.16	+0.119%	$1K	$8K	25x	as long as short
Bybit SOLUSDTlong	−0.0047%	8h	117.02	long leg	$733.6M	$1.27B	100x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.05	+0.022%	$39K	—	150x	as long as short
Perpl SOL	0.0000%	43m	117.08	+0.053%	$100K	$2.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.10	+0.067%	$26.3M	$18.7M	50x	as long as short
Vest SOL-PERP	0.0000%	1h	117.06	+0.035%	—	$284K	20x	as long as short
Bitget SOLUSDT	+0.0027%	8h	117.03	+0.007%	$482.5M	$409.0M	100x	as long as short
Injective SOL/USDC PERP	+0.0033%	1h	116.85	−0.146%	$4K	$122	12x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTXshort	+0.0040%	1h	117.08	+0.049%	$8.4M	$374.8M	50x
Aster SOLUSDT	+0.0044%	8h	117.04	+0.014%	$177.6M	$158.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	117.03	+0.011%	$1.0M	$5.3M	100x	as long as short
SoDEX SOL-USD	+0.0067%	1h	117.04	+0.016%	$6.2M	$11.1M	20x	as long as short
Gate SOL_USDT	+0.0071%	8h	117.05	+0.025%	$850.4M	$599.8M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.09	+0.059%	$101K	$181K	20x	as long as short
Binance SOLUSDT	+0.0093%	8h	117.05	+0.025%	$966.6M	$3.49B	100x	as long as short
MEXC SOL_USDT	+0.0093%	8h	117.05	+0.025%	$430.6M	$993.4M	300x	as long as short
ApeX Omni SOLUSDT	+0.0095%	1h	117.18	+0.136%	$1.1M	$6.7M	50x	as long as short
Lighter SOL	+0.0096%	1h	117.08	+0.053%	$13.2M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.06	+0.032%	$2.2M	$13.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.99	−0.023%	$349K	$257K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.05	+0.023%	$1.0M	$557K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.07	+0.042%	$45K	$864K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.07	+0.044%	$5.6M	$39.4M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.11	+0.076%	$15.9M	$116.6M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.04	+0.016%	$360.6M	$1.58B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.18	+0.136%	$222K	$776K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.12	+0.083%	$900K	$7.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.25	+0.198%	$127.0M	$16.9M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.05	+0.021%	$133.9M	$229.5M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.03	+0.011%	—	$342.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.10	+0.068%	$23.2M	$35.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.07	+0.043%	$25.1M	$100.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.16	+0.120%	$94.1M	$383.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.14	+0.105%	$47.9M	$25.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.14	+0.102%	$1.3M	$10.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.04	+0.016%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.06	+0.037%	$285K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.05	+0.021%	$190K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.21	+0.163%	$226.8M	$41.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.13	+0.093%	$45.5M	$101.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0101%	8h	117.12	+0.082%	$1.3M	$16.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.00	−0.021%	$8.5M	$33.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.09	+0.063%	—	$213.5M	500x	as long as short
dYdX SOL-USD	+0.0126%	1h	117.12	+0.082%	$9.3M	$18.3M	20x	as long as short
Phoenix SOL	+0.0129%	1h	117.26	+0.204%	$6.6M	$12.8M	25x	as long as short
Hyperliquid SOL	+0.0159%	1h	117.19	+0.144%	$718.5M	$374.8M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0185%	1h	117.08	+0.048%	$32.5M	$93.6M	100x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.08	+0.048%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0214%	8h	117.11	+0.076%	$51.6M	$57.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0170%	1h	117.06	+0.033%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0273%	1h	117.17	+0.127%	$2.2M	$4.5M	20x	as long as short
Aftermath Perps SOLUSD	+0.0403%	1h	117.13	+0.096%	$25K	$54K	20x	as long as short