Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0220%/8h= −24.0% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended−0.003%7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

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

costs, in and out, $10k−$180.177% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days+0.031%+$3 · spread now −0.003%, 7d avg +0.053%

Together, before fees−0.072%+ Points / potential airdropExtended: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.056% cheaper against Extended than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.053%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.103% in total (about -5.4% 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	Extended SOL-USD	116.36	0.0104	pay 0.0013% / 1h	34m 39s	$8.0M	$39.0M	50x
Short	Bybit SOLUSDT	116.35	−0.0116	pay 0.0116% / 8h	1h 34m	$739.9M	$1.44B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$46.1
Price spread: −0.003% → +0.053%: −$5.64
Slippage, 4 orders: −$1.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.45
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Bybit: live order book, 5 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 Extended live order book, 4 min ago	0.43 bp	2.9 bp −$3	2.9 bp −$29	6.1 bp −$612	doesn't fit
Sell Bybit live order book, 5 min ago	0.43 bp	5.9 bp −$6	7.0 bp −$70	9.6 bp −$962	22.3 bp −$11.1K

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	−0.0136%	1h	116.39	+0.030%	$96K	$688K	20x	as long as short
Bybit SOLUSDTshort	−0.0116%	8h	116.35	−0.003%	$739.9M	$1.44B	100x
Hotstuff SOL-PERP	−0.0080%	1h	116.42	+0.051%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.43	+0.062%	$33.0M	$105.3M	100x	as long as short
Derive SOL-PERP	−0.0053%	1h	116.33	−0.024%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0019%	1h	116.37	+0.009%	—	$628K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.40	+0.040%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.43	+0.065%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.43	+0.062%	$110K	$3.6M	8.3x	as long as short
dYdX SOL-USD	+0.0017%	1h	116.41	+0.047%	$4.3M	$23.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0024%	1h	116.38	+0.021%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.44	+0.073%	$100K	$177K	20x	as long as short
Bitget SOLUSDT	+0.0046%	8h	116.39	+0.032%	$479.4M	$461.0M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.42	+0.054%	$8.0M	$403.8M	50x	as long as short
Aster SOLUSDT	+0.0085%	8h	116.39	+0.030%	$175.7M	$173.6M	100x	as long as short
SoDEX SOL-USD	+0.0088%	1h	116.38	+0.021%	$6.1M	$10.9M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	116.38	+0.021%	$1.0M	$6.0M	100x	as long as short
Paradex SOL-USD-PERP	+0.0095%	8h	116.43	+0.062%	$1.0M	$551K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.41	+0.043%	$13.1M	$60.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.40	+0.034%	$351K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.38	+0.021%	$64K	$906K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.35	−0.006%	$5.5M	$41.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.50	+0.124%	$697.2M	$409.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.44	+0.072%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.41	+0.047%	$966.5M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.36	+0.004%	$367.9M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.39	+0.030%	$216K	$884K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.42	+0.054%	$899K	$8.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.39	+0.030%	$843.0M	$667.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.41	+0.047%	$361.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.39	+0.032%	$129.7M	$232.8M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.36	+0.002%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.40	+0.038%	$23.0M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.35	−0.001%	$24.9M	$111.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.44	+0.070%	$93.5M	$410.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.41	+0.044%	$47.6M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.52	+0.142%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.41	+0.047%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.36	+0.004%	$312K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.38	+0.019%	$237K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.39	+0.028%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.36	+0.008%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.36	+0.007%	$225.4M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.39	+0.030%	$45.3M	$105.4M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	+0.167%	$124.9M	$24.9M	20x	as long as short
Extended SOL-USDlong	+0.0104%	1h	116.36	long leg	$8.0M	$39.0M	50x
Deribit SOL_USDC-PERPETUAL	+0.0108%	1h	116.46	+0.092%	$26.4M	$21.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.42	+0.053%	—	$237.1M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.50	+0.124%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.55	+0.167%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.36	+0.002%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.38	+0.021%	$52.1M	$67.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.41	+0.050%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.48	+0.110%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0497%	1h	116.49	+0.120%	$25K	$56K	20x	as long as short