Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against MEXC+0.151%7-day average +0.090% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$150.147% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days−0.771%−$77 · spread now +0.151%, 7d avg +0.090%

Together, before fees−0.693%−$69 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.061% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SOL_USDT	119.18	0.0100	pay 0.0100% / 8h	7h 08m	$433.5M	$1.13B	300x
Short	Backpack SOL_USDC_PERP	119.36	0.0100	get 0.0013% / 1h	8m 43s	$24.1M	$36.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.151%Rate

Funding earned: $0
Price spread: +0.151% → +0.090%: $6.12
Slippage, 4 orders: −$2.67
Fee MEXC: 1 bp × 2 orders: −$2
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$8.55
Costs to cover: 0.147%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Backpack: 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 MEXC live order book, 5 min ago	0.42 bp	1.4 bp −$1	1.4 bp −$14	2.6 bp −$261	5.9 bp −$2,967
Sell Backpack live order book, 5 min ago	0.42 bp	6.4 bp −$6	7.3 bp −$73	9.4 bp −$941	doesn't fit

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	+0.107%	$2.0M	$2.7M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.36	+0.155%	$933	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	119.33	+0.123%	—	$608K	20x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	119.41	+0.191%	$109K	$670K	20x	as long as short
HTX SOL-USDT	−0.0029%	8h	119.30	+0.104%	$232.1M	$43.9M	75x	as long as short
dYdX SOL-USD	−0.0017%	1h	119.22	+0.034%	$4.9M	$25.5M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.37	+0.156%	$32.4M	$97.1M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.40	+0.187%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.40	+0.186%	$1.2M	$20.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.45	+0.230%	$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	+0.193%	$104K	$160K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0037%	1h	119.43	+0.208%	$26.8M	$24.8M	50x	as long as short
Gate SOL_USDT	+0.0074%	8h	119.28	+0.084%	$855.9M	$673.2M	100x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.19	+0.008%	—	$366.1M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.40	+0.182%	$1.1M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.38	+0.170%	$8.2M	$410.6M	50x	as long as short
ApeX Omni SOLUSDT	+0.0090%	1h	119.16	−0.017%	$1.5M	$6.0M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.22	+0.030%	$13.7M	$57.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.17	−0.008%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.40	+0.181%	$350K	$253K	20x	as long as short
Bluefin SOL-PERP	+0.0097%	1h	119.39	+0.173%	$37K	$17K	25x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.17	−0.004%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.37	+0.159%	$46K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.36	+0.154%	$6.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.39	+0.176%	$731.3M	$394.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.29	+0.092%	$180.3M	$176.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.24	+0.047%	$12.3M	$125.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.21	+0.023%	$981.6M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.21	+0.028%	$828.7M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.15	−0.025%	$372.6M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.34	+0.134%	$234K	$834K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.17	−0.004%	$2.1M	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.354%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDTlong	+0.0100%	8h	119.18	long leg	$433.5M	$1.13B	300x
KuCoin SOLUSDTM	+0.0100%	8h	119.25	+0.063%	$139.2M	$203.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.18	−0.002%	$494.7M	$438.2M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	119.36	+0.151%	$24.1M	$36.7M	50x
Variational Omni SOL	+0.0100%	8h	119.19	+0.004%	$24.9M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.20	+0.013%	$95.7M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	−0.039%	$48.8M	$29.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.20	+0.017%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.39	+0.176%	$361K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.40	+0.182%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.38	+0.170%	$194K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.37	+0.159%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.38	+0.168%	$46.8M	$99.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.27	+0.074%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.28	+0.084%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.32	+0.116%	—	$225.6M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.20	+0.014%	$1.8M	$4.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.143%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	119.37	+0.158%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.39	+0.176%	$52.1M	$74.3M	125x	as long as short
Aftermath Perps SOLUSD	+0.0224%	1h	119.28	+0.086%	$25K	$51K	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	119.40	+0.185%	$3.7M	—	200x	as long as short