Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.015%

Price spread now: Variational Omni against Deribit−0.062%7-day average −0.026% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.084%+$8 on $10k

Price spread, last 4 days (all we have)+0.307%+$31 · spread now −0.062%, 7d avg −0.026%

Together, before fees+0.391%+ Points / potential airdropVariational Omni: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.036% cheaper against Deribit than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of −0.026%). If the spread goes back, that is −$4 on $10k: about 3.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	116.52	0.0060	pay 0.0007% / 1h	49m 08s	$26.2M	$21.8M	50x
Short	Variational Omni SOL	116.45	0.0100	get 0.0100% / 8h	7h 49m	$24.9M	$105.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.062%Rate

Funding earned: $8.42
Price spread: −0.062% → −0.026%: −$3.62
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$2.2
Costs to cover: 0.070%
Break-even: 8.8 days

Slippage unknown: Deribit: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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 Deribit live order book, 5 min ago	0.04 bp	4.8 bp −$5	5.4 bp −$54	14.3 bp −$1,429	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	1.21 bp	doesn't fit	2.2 bp −$22	8.7 bp −$869	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
Phemex SOLUSDT	−0.0233%	8h	116.44	−0.067%	$45.3M	$103.5M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.47	−0.040%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.48	−0.029%	$32.3M	$106.5M	100x	as long as short
Vest SOL-PERP	−0.0012%	1h	116.44	−0.065%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	−0.030%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.48	−0.033%	$4.3M	$23.4M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.44	−0.066%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.46	−0.050%	$99K	$3.4M	8.3x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.38	−0.118%	$1.9M	$3.0M	13x	as long as short
Bitget SOLUSDT	+0.0026%	8h	116.43	−0.074%	$480.2M	$453.8M	100x	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	+0.0040%	1h	116.48	−0.030%	$7.8M	$395.7M	50x	as long as short
Aster SOLUSDT	+0.0054%	8h	116.44	−0.066%	$177.1M	$169.3M	100x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0060%	1h	116.52	long leg	$26.2M	$21.8M	50x
Bybit SOLUSDT	+0.0062%	8h	116.42	−0.081%	$732.3M	$1.41B	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	116.52	−0.002%	$103K	$681K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0069%	8h	116.46	−0.047%	$1.0M	$6.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.46	−0.053%	$13.1M	$55.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.44	−0.071%	$2.2M	$14.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.45	−0.059%	$351K	$255K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.49	−0.020%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.44	−0.067%	$64K	$903K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.46	−0.050%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.55	+0.028%	$696.2M	$406.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.50	−0.014%	$15.7M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.44	−0.067%	$963.1M	$3.84B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.43	−0.075%	$366.6M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.127%	$219K	$850K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.50	−0.019%	$920K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.33	−0.164%	$125.6M	$25.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.46	−0.050%	$848.5M	$607.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.45	−0.058%	$370.5M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.47	−0.042%	$129.8M	$237.2M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.42	−0.087%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.46	−0.050%	$22.9M	$36.2M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	116.45	−0.062%	$24.9M	$105.3M	—
edgeX SOLUSDC	+0.0100%	4h	116.30	−0.190%	$93.4M	$405.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.39	−0.110%	$47.6M	$29.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.38	−0.118%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.47	−0.041%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.50	−0.015%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.47	−0.042%	$283K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.47	−0.039%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.45	−0.058%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.45	−0.058%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.45	−0.059%	$225.5M	$50.6M	75x	as long as short
Extended SOL-USD	+0.0104%	1h	116.41	−0.092%	$8.3M	$36.6M	50x	as long as short
01 Exchange SOLUSD	+0.0120%	1h	116.54	+0.019%	$100K	$181K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.39	−0.112%	—	$231.3M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.45	−0.058%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.153%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.42	−0.080%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.46	−0.050%	$52.2M	$64.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.48	−0.037%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0416%	1h	116.41	−0.089%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.55	+0.024%	$2.1M	$4.8M	20x	as long as short