Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h −0.032%

Price spread now: Binance against GMX−0.082%7-day average −0.035% · you buy dearer than you sell

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.115%−$12 on $10k

Price spread, last 3 days (all we have)+0.089%+$9 · spread now −0.082%, 7d avg −0.035%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.047% cheaper against GMX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	119.45	L +0.0171% / S −0.0090%	pay 0.0021% / 1h	10m 05s	$3.6M	—	200x
Short	Binance SOLUSDT	119.35	0.0100	get 0.0100% / 8h	2h 10m	$977.1M	$3.78B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.082%Rate

Funding earned: −$14.95
Price spread: −0.082% → −0.035%: −$4.67
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$41.62
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 4 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	0.42 bp	5.8 bp −$6	6.9 bp −$69	10.7 bp −$1,065	19.2 bp −$9,589

GMX: 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 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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.248%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.27	−0.145%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0071%	1h	119.34	−0.086%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.21	−0.199%	$2.0M	$3.1M	13x	as long as short
dYdX SOL-USD	−0.0007%	1h	119.42	−0.025%	$4.9M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.45	0.000%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.44	−0.007%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.39	−0.048%	$179K	$4.0M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0041%	1h	119.47	+0.021%	$24K	$47K	20x	as long as short
HTX SOL-USDT	+0.0054%	8h	119.37	−0.064%	$232.5M	$44.7M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0062%	8h	119.43	−0.013%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.31	−0.111%	$120K	$633K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.41	−0.030%	$104K	$153K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0080%	1h	119.46	+0.014%	$26.8M	$27.7M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.34	−0.090%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.36	−0.072%	$871.0M	$688.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.39	−0.047%	$13.7M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.38	−0.056%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.38	−0.053%	$354K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.36	−0.070%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.40	−0.039%	$49K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.37	−0.066%	$6.3M	$42.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.47	+0.020%	$720.8M	$415.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.38	−0.055%	$179.1M	$176.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.43	−0.015%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	119.35	−0.082%	$977.1M	$3.78B	100x
Bybit SOLUSDT	+0.0100%	8h	119.33	−0.098%	$824.8M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.30	−0.123%	$372.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.40	−0.039%	$234K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.43	−0.015%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.25	−0.164%	$133.7M	$10.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.38	−0.056%	$451.3M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.38	−0.058%	$140.8M	$198.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.31	−0.110%	$497.7M	$453.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.39	−0.047%	$24.3M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.41	−0.029%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.43	−0.012%	$95.9M	$402.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.33	−0.097%	$48.8M	$33.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.38	−0.052%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.41	−0.030%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.42	−0.022%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.42	−0.019%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.42	−0.026%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.42	−0.026%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.40	−0.039%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.42	−0.022%	$46.7M	$101.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.30	−0.125%	$8.7M	$36.6M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.45	+0.001%	$8.2M	$417.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.38	−0.054%	—	$221.7M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.39	−0.047%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0171% / S −0.0090%	1h	119.45	long leg	$3.6M	—	200x
RISEx SOL/USDC	+0.0175%	1h	119.43	−0.017%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.42	−0.020%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.37	−0.064%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.43	−0.010%	$35.5M	$91.2M	100x	as long as short