Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Backpack against Pacifica+0.059%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on Pacifica Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days−0.827%−$83 · spread now +0.059%, 7d avg +0.080%

Together, before fees−0.744%+ Points / potential airdropPacifica: Active · farm board−$74 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 0.021% cheaper against Pacifica than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica SOL	118.66	0.0100	pay 0.0013% / 1h	7m 31s	$12.2M	$122.3M	20x
Short	Backpack SOL_USDC_PERP	118.73	0.0100	get 0.0013% / 1h	7m 31s	$24.1M	$38.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → +0.080%: −$2.06
Slippage, 4 orders: −$4.23
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$24.29
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from Pacifica: live order book, 2 min ago; Backpack: live order book, 2 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 Pacifica live order book, 2 min ago	0.42 bp	4.9 bp −$5	6.1 bp −$61	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.42 bp	5.9 bp −$6	7.6 bp −$76	9.6 bp −$957	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	−0.0100%	1h	118.62	−0.031%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.67	+0.008%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.61	−0.046%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	118.67	+0.011%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.72	+0.051%	$113K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.68	+0.021%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.65	−0.012%	$175K	$3.9M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0003%	1h	118.58	−0.067%	$1.5M	$6.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0048%	1h	118.75	+0.078%	$26.6M	$25.7M	50x	as long as short
Gate SOL_USDT	+0.0067%	8h	118.61	−0.042%	$866.0M	$687.5M	100x	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	+0.0076%	8h	118.72	+0.048%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0078%	8h	118.62	−0.031%	$230.9M	$45.1M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.53	−0.110%	$104K	$158K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.59	−0.062%	—	$10.5M	—	as long as short
Lighter SOL	+0.0096%	1h	118.62	−0.036%	$13.4M	$56.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.61	−0.040%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.68	+0.021%	$120K	$631K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.70	+0.037%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.73	+0.063%	$8.1M	$416.1M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.63	−0.025%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.57	−0.076%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.61	−0.038%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.75	+0.076%	$718.1M	$407.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.61	−0.038%	$178.3M	$177.2M	100x	as long as short
Pacifica SOLlong	+0.0100%	1h	118.66	long leg	$12.2M	$122.3M	20x
Binance SOLUSDT	+0.0100%	8h	118.53	−0.110%	$977.4M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.63	−0.025%	$822.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.57	−0.076%	$370.4M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.55	−0.093%	$229K	$877K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.60	−0.053%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.65	−0.011%	$133.6M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.60	−0.051%	$426.4M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.65	−0.010%	$137.8M	$206.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.56	−0.088%	$491.8M	$458.6M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	118.73	+0.059%	$24.1M	$38.6M	50x
Variational Omni SOL	+0.0100%	8h	118.48	−0.154%	$26.9M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.58	−0.069%	$95.2M	$402.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.64	−0.017%	$48.6M	$30.8M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.62	−0.034%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.68	+0.017%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.69	+0.028%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.68	+0.015%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.63	−0.029%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.70	+0.034%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.72	+0.051%	$46.4M	$102.4M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.69	+0.025%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.54	−0.104%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.72	+0.050%	$32.5M	$97.0M	100x	as long as short
Aftermath Perps SOLUSD	+0.0118%	1h	118.64	−0.014%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.66	+0.001%	—	$226.0M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0070%	1h	118.71	+0.039%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.211%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.67	+0.005%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.63	−0.025%	$51.8M	$80.0M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.52	−0.115%	$1.8M	$4.8M	20x	as long as short