Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Phemex against Bybit+0.005%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.374%−$37 · spread now +0.005%, 7d avg +0.002%

Together, before fees−0.352%−$35 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	117.84	0.0100	pay 0.0100% / 8h	5h 10m	$831.0M	$1.25B	100x
Short	Phemex SOLUSDT	117.85	0.0100	get 0.0100% / 8h	5h 10m	$45.9M	$100.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.005%Rate

Funding earned: $0
Price spread: +0.005% → +0.002%: $0.33
Slippage, 4 orders: −$6.54
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$29.21
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: 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	0.42 bp	5.9 bp −$6	5.9 bp −$59	9.9 bp −$993	21.8 bp −$10.9K
Sell Phemex live order book, 4 min ago	0.42 bp	9.3 bp −$9	10.0 bp −$100	17.6 bp −$1,762	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	118.00	+0.128%	$923	$8K	25x	as long as short
Bluefin SOL-PERP	−0.0071%	1h	117.83	−0.011%	$25K	$28K	25x	as long as short
Vest SOL-PERP	−0.0071%	1h	117.82	−0.020%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.86	+0.009%	$31.6M	$98.9M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.79	−0.049%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.86	+0.013%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.99	+0.121%	$4.5M	$24.1M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0022%	1h	117.90	+0.050%	$26.5M	$24.9M	50x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	117.86	+0.014%	$105K	$696K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	118.00	+0.132%	$100K	$165K	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	117.89	+0.042%	$7.9M	$404.7M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.87	+0.020%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.86	+0.009%	$13.2M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.84	−0.002%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.84	−0.003%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.97	+0.107%	$54K	$852K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.01	+0.140%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.95	+0.094%	$5.8M	$38.8M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.84	−0.002%	$177.4M	$180.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.99	+0.125%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.82	−0.020%	$971.3M	$3.72B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	117.84	long leg	$831.0M	$1.25B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	117.81	−0.029%	$366.4M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.91	+0.056%	$234K	$864K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.99	+0.126%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.102%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.84	−0.003%	$860.6M	$654.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.78	−0.054%	$425.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.84	−0.001%	$130.9M	$213.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.78	−0.052%	$488.2M	$431.6M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.84	−0.003%	—	$363.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.85	+0.005%	$23.7M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.77	−0.061%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.84	−0.006%	$94.6M	$391.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.69	−0.132%	$48.2M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.83	−0.012%	$1.7M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.80	−0.037%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.91	+0.056%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.86	+0.016%	$200K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.85	+0.006%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.86	+0.014%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.92	+0.063%	$229.0M	$45.5M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.85	+0.005%	$45.9M	$100.5M	50x
Kalshi KXSOLPERP	+0.0102%	8h	117.98	+0.115%	$1.4M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.76	−0.072%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.97	+0.103%	—	$215.6M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.89	+0.039%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	118.06	+0.181%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0174%	1h	117.97	+0.107%	$721.8M	$390.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.84	−0.007%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.300%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.85	+0.005%	$52.0M	$71.6M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.92	+0.068%	$128K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.86	+0.009%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0402%	1h	117.85	+0.007%	$25K	$52K	20x	as long as short