Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Phemex against Nado−0.121%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$250.253% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.297%−$30 · spread now −0.121%, 7d avg +0.006%

Together, before fees−0.298%+ Points / potential airdropNado: Active · farm board−$30 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: Phemex is 0.127% cheaper against Nado than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado SOL-PERP	117.23	0.0100	pay 0.0012% / 1h	5m 39s	$5.8M	$38.9M	40x
Short	Phemex SOLUSDT	117.09	0.0100	get 0.0100% / 8h	5h 05m	$45.8M	$100.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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 NadobpFee PhemexbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → +0.006%: −$12.72
Slippage, 4 orders: −$6.29
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$38.01
Costs to cover: 0.253%
Break-even: 3904854317645935.0 days

Slippage from Nado: live order book, 3 min ago; Phemex: live order book, 4 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 Nado live order book, 3 min ago	0.43 bp	3.9 bp −$4	4.8 bp −$48	10.0 bp −$996	31.3 bp −$15.7K
Sell Phemex live order book, 4 min ago	0.43 bp	10.4 bp −$10	10.6 bp −$106	19.3 bp −$1,934	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
Hotstuff SOL-PERP	−0.0080%	1h	117.25	+0.013%	$917	$8K	25x	as long as short
Vest SOL-PERP	−0.0073%	1h	117.23	−0.005%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.07	−0.138%	$31.4M	$98.7M	100x	as long as short
Bluefin SOL-PERP	−0.0037%	1h	117.09	−0.118%	$25K	$28K	25x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.03	−0.177%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.19	−0.037%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.80	−0.371%	$4.5M	$24.1M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0014%	1h	117.11	−0.103%	$26.4M	$25.0M	50x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	117.51	+0.233%	$104K	$695K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.23	−0.002%	$100K	$166K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.06	−0.144%	$7.8M	$402.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.11	−0.103%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.75	−0.410%	$13.1M	$60.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.76	−0.405%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.07	−0.135%	$343K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.22	−0.010%	$56K	$840K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.82	−0.353%	$1.0M	$516K	50x	as long as short
Nado SOL-PERPlong	+0.0100%	1h	117.23	long leg	$5.8M	$38.9M	40x
Aster SOLUSDT	+0.0100%	8h	116.88	−0.297%	$175.9M	$181.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.80	−0.368%	$14.4M	$128.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.76	−0.403%	$962.1M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.76	−0.401%	$810.7M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.80	−0.369%	$363.7M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.91	−0.275%	$234K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.93	−0.258%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.624%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.92	−0.266%	$852.1M	$657.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.82	−0.352%	$419.9M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.78	−0.390%	$129.7M	$212.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.82	−0.353%	$484.8M	$432.4M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.90	−0.287%	—	$363.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.99	−0.207%	$23.5M	$37.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.16	−0.060%	$24.7M	$115.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.75	+0.444%	$94.6M	$391.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.66	+0.365%	$48.2M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.69	+0.390%	$1.7M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.50	+0.228%	$1.3M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.22	−0.010%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.23	0.000%	$199K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.10	−0.110%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.07	−0.138%	$6.2M	$10.7M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.05	−0.155%	$227.3M	$45.5M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.09	−0.121%	$45.8M	$100.6M	50x
Kalshi KXSOLPERP	+0.0102%	8h	117.35	+0.098%	$1.4M	$18.5M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	116.91	−0.275%	$8.1M	$36.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.29	+0.048%	—	$215.4M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.99	+0.646%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.29	+0.051%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0164%	1h	116.95	−0.241%	$714.5M	$389.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.20	−0.024%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.56	+0.280%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.45	+0.186%	$51.7M	$71.4M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.25	+0.018%	$131K	$3.7M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.22	−0.010%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0411%	1h	117.68	+0.378%	$25K	$50K	20x	as long as short