Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0131%/8h= −14.4% APRpaid last 24h −0.026%

Price spread now: KuCoin against GMX−0.005%7-day average −0.022% · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.128%−$13 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.005%, 7d avg −0.022%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	116.79	L +0.0231% / S −0.0169%	pay 0.0029% / 1h	20m 01s	$3.5M	—	200x
Short	KuCoin SOLUSDTM	116.78	0.0100	get 0.0100% / 8h	1h 20m	$130.3M	$232.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$27.6
Price spread: −0.005% → −0.022%: $1.72
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.88
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	0.04 bp	6.5 bp −$6	9.1 bp −$91	19.8 bp −$1,982	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 54 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	−0.0168%	1h	116.74	−0.042%	$97K	$692K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.68	−0.090%	$740.2M	$1.44B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.71	−0.066%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.80	+0.014%	$32.3M	$106.3M	100x	as long as short
Vest SOL-PERP	−0.0037%	1h	116.76	−0.020%	—	$628K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.72	−0.053%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.79	+0.008%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.83	+0.034%	$110K	$3.6M	8.3x	as long as short
dYdX SOL-USD	+0.0018%	1h	116.83	+0.038%	$4.3M	$23.7M	20x	as long as short
Lighter RH SOL	+0.0040%	1h	116.76	−0.021%	$2.2M	$16.9M	25x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0042%	8h	116.70	−0.073%	$480.7M	$460.5M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.82	+0.030%	$99K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.81	+0.022%	$8.0M	$404.8M	50x	as long as short
Aster SOLUSDT	+0.0082%	8h	116.72	−0.056%	$176.8M	$170.2M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	116.78	−0.009%	$1.0M	$6.0M	100x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.76	−0.020%	$1.0M	$553K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.78	−0.005%	$13.1M	$60.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.78	−0.006%	$352K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.73	−0.047%	$64K	$908K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.73	−0.045%	$5.5M	$41.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.80	+0.013%	$699.2M	$407.9M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.80	+0.015%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.70	−0.070%	$968.4M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.71	−0.064%	$368.4M	$1.78B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.66	−0.107%	$217K	$860K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.79	+0.004%	$902K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.74	−0.042%	$125.3M	$26.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.76	−0.022%	$851.9M	$673.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.73	−0.047%	$367.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTMshort	+0.0100%	8h	116.78	−0.005%	$130.3M	$232.9M	75x
BingX SOL-USDT	+0.0100%	8h	116.68	−0.087%	—	$374.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.74	−0.039%	$23.1M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.65	−0.112%	$25.1M	$111.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.70	−0.069%	$93.7M	$409.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.71	−0.064%	$47.7M	$30.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.69	−0.081%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.72	−0.056%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.80	+0.013%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.79	+0.003%	$243K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.80	+0.015%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.78	−0.009%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.77	−0.013%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.78	−0.003%	$226.1M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.78	−0.004%	$45.4M	$105.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.73	−0.045%	$8.0M	$38.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.70	−0.076%	—	$236.8M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0126%	1h	116.85	+0.055%	$26.5M	$21.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.69	−0.081%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.84	+0.047%	$6.6M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.77	−0.013%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.70	−0.073%	$52.0M	$67.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0231% / S −0.0169%	1h	116.79	long leg	$3.5M	—	200x
RISEx SOL/USDC	+0.0451%	1h	116.86	+0.062%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0499%	1h	116.77	−0.016%	$25K	$57K	20x	as long as short