Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0133%/8h= −14.6% APRpaid last 24h −0.028%

Price spread now: Bitget against GMX−0.104%7-day average −0.045% · you buy dearer than you sell

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

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.111%−$11 on $10k

Price spread, last 3 days (all we have)+0.080%+$8 · spread now −0.104%, 7d avg −0.045%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.059% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	119.40	L +0.0233% / S −0.0167%	pay 0.0029% / 1h	8m 52s	$3.7M	—	200x
Short	Bitget SOLUSDT	119.28	0.0100	get 0.0100% / 8h	7h 08m	$495.1M	$438.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$27.98
Price spread: −0.104% → −0.045%: −$5.87
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$57.85
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.13 bp	6.5 bp −$6	9.7 bp −$97	14.4 bp −$1,444	doesn't fit

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
Derive SOL-PERP	−0.0082%	1h	119.31	−0.077%	$2.0M	$2.7M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.36	−0.030%	$933	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	119.33	−0.062%	—	$608K	20x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	119.41	+0.007%	$109K	$670K	20x	as long as short
HTX SOL-USDT	−0.0029%	8h	119.30	−0.080%	$232.1M	$43.9M	75x	as long as short
dYdX SOL-USD	−0.0018%	1h	119.40	0.000%	$4.9M	$25.5M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.37	−0.028%	$32.4M	$97.1M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.40	+0.002%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.40	+0.001%	$1.2M	$20.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.45	+0.045%	$125K	$3.9M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0032%	1h	119.41	+0.008%	$104K	$160K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0037%	1h	119.43	+0.023%	$26.8M	$24.8M	50x	as long as short
Gate SOL_USDT	+0.0074%	8h	119.28	−0.101%	$855.9M	$673.2M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.27	−0.112%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.40	−0.003%	$1.1M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.38	−0.015%	$8.2M	$410.6M	50x	as long as short
ApeX Omni SOLUSDT	+0.0090%	1h	119.16	−0.201%	$1.5M	$6.0M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.36	−0.034%	$13.7M	$57.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.36	−0.035%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.40	−0.004%	$350K	$253K	20x	as long as short
Bluefin SOL-PERP	+0.0097%	1h	119.39	−0.012%	$37K	$17K	25x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.40	+0.001%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.37	−0.025%	$46K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.36	−0.031%	$6.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.47	+0.061%	$731.8M	$394.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.34	−0.054%	$180.4M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.40	+0.001%	$12.3M	$125.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.31	−0.079%	$982.4M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.32	−0.065%	$829.4M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.27	−0.109%	$372.9M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.38	−0.017%	$234K	$834K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.30	−0.082%	$2.1M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.538%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.31	−0.076%	$434.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.31	−0.075%	$139.3M	$203.4M	75x	as long as short
Bitget SOLUSDTshort	+0.0100%	8h	119.28	−0.104%	$495.1M	$438.3M	100x
Backpack SOL_USDC_PERP	+0.0100%	1h	119.36	−0.034%	$24.1M	$36.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.19	−0.180%	$24.9M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.20	−0.172%	$95.7M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	−0.223%	$48.8M	$29.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.20	−0.168%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.39	−0.009%	$361K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.40	−0.003%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.38	−0.015%	$194K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.37	−0.025%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.38	−0.017%	$46.8M	$99.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.27	−0.111%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.28	−0.101%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.32	−0.069%	—	$225.6M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.41	+0.008%	$1.8M	$4.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.327%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	119.37	−0.026%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.39	−0.009%	$52.1M	$74.3M	125x	as long as short
Aftermath Perps SOLUSD	+0.0224%	1h	119.28	−0.099%	$25K	$51K	20x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0233% / S −0.0167%	1h	119.40	long leg	$3.7M	—	200x