Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0135%/8h= +14.8% APRpaid last 24h +0.042%

Price spread now: SunX against Derive+0.059%7-day average +0.028% · you sell dearer than you buy

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

Long on Derive Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.059%, 7d avg +0.028%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and SunX is 0.032% dearer against Derive than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive SOL-PERP	117.19	−0.0035	get 0.0004% / 1h	8m 07s	$1.8M	$2.5M	13x
Short	SunX SOL-USDT	117.26	0.0100	get 0.0100% / 8h	4h 08m	$190K	$1.4M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Derive. 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 DerivebpFee SunXbpOrdersPrice spread, now +0.059%Rate

Funding earned: $28.37
Price spread: +0.059% → +0.028%: $3.17
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: $17.54
Costs to cover: 0.140%
Break-even: 2.7 days

Slippage unknown: Derive: no order-book sample; SunX: live order book, 10 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 Derive no order-book sample	—	—	—	—	—
Sell SunX live order book, 10 min ago	4.31 bp	17.8 bp −$18	29.5 bp −$295	doesn't fit	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SOL on 55 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
Hibachi SOL/USDT-P	−0.0184%	1h	117.37	+0.161%	$102K	$651K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.27	+0.070%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0042%	8h	117.23	+0.037%	$724.2M	$1.19B	100x	as long as short
Derive SOL-PERPlong	−0.0035%	1h	117.19	long leg	$1.8M	$2.5M	13x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.27	+0.070%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.34	+0.128%	$1.3M	$14.9M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.28	+0.082%	$99K	$2.5M	8.3x	as long as short
Vest SOL-PERP	+0.0008%	1h	117.27	+0.074%	—	$243K	20x	as long as short
Bitget SOLUSDT	+0.0013%	8h	117.24	+0.048%	$481.2M	$383.5M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0024%	1h	117.28	+0.081%	$8.6M	$359.7M	50x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0029%	8h	117.24	+0.046%	$981K	$4.8M	100x	as long as short
Injective SOL/USDC PERP	+0.0033%	1h	116.85	−0.286%	$4K	$113	12x	as long as short
Aster SOLUSDT	+0.0049%	8h	117.25	+0.055%	$177.3M	$155.1M	100x	as long as short
Aevo SOL-PERP	+0.0056%	1h	117.20	+0.016%	$343K	$256K	20x	as long as short
MEXC SOL_USDT	+0.0058%	8h	117.26	+0.063%	$431.8M	$971.4M	300x	as long as short
Binance SOLUSDT	+0.0058%	8h	117.25	+0.051%	$973.3M	$3.33B	100x	as long as short
SoDEX SOL-USD	+0.0061%	1h	117.25	+0.055%	$6.1M	$11.3M	20x	as long as short
dYdX SOL-USD	+0.0067%	1h	117.27	+0.070%	$9.2M	$16.1M	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.31	+0.106%	$103K	$189K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0075%	1h	117.32	+0.116%	$26.4M	$17.1M	50x	as long as short
Gate SOL_USDT	+0.0084%	8h	117.26	+0.063%	$843.0M	$586.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.26	+0.064%	$13.2M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.25	+0.055%	$2.2M	$13.1M	25x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.25	+0.055%	$24K	$908K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.26	+0.060%	$1.0M	$554K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.23	+0.037%	$5.6M	$38.5M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.31	+0.104%	$15.9M	$116.0M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.22	+0.029%	$362.3M	$1.53B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.27	+0.072%	$223K	$754K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.30	+0.098%	$1.2M	$7.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.37	+0.158%	$128.5M	$9.1M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.25	+0.057%	$132.9M	$227.8M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.19	+0.007%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.25	+0.055%	$23.1M	$33.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.22	+0.032%	$25.0M	$93.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.35	+0.138%	$94.2M	$353.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.29	+0.089%	$48.0M	$25.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.28	+0.081%	$1.0M	$4.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.35	+0.140%	$1.3M	$9.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.26	+0.063%	$323K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.26	+0.063%	$285K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.38	+0.162%	$26K	$34K	25x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	117.26	+0.059%	$190K	$1.4M	30x
HTX SOL-USDT	+0.0100%	8h	117.30	+0.096%	$227.0M	$39.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.31	+0.106%	$45.6M	$97.6M	50x	as long as short
Phoenix SOL	+0.0103%	1h	117.38	+0.166%	$6.8M	$11.6M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.20	+0.011%	$8.4M	$32.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	117.32	+0.111%	—	$207.5M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0128%	1h	117.29	+0.088%	$33.5M	$90.2M	100x	as long as short
BloFin SOL-USDT	+0.0179%	8h	117.37	+0.157%	$51.9M	$55.2M	125x	as long as short
Hyperliquid SOL	+0.0196%	1h	117.44	+0.217%	$738.5M	$366.6M	20x	as long as short
Reya SOLRUSDPERP	+0.0202%	1h	117.20	+0.016%	$1.1M	$91K	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0240% / S −0.0186%	1h	117.27	+0.069%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0250%	1h	117.30	+0.097%	$2.2M	$3.6M	20x	as long as short
Aftermath Perps SOLUSD	+0.0417%	1h	117.32	+0.115%	$25K	$45K	20x	as long as short