Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0110%/8h= −12.1% APRpaid last 24h −0.032%

Price spread now: Derive against Paradex−0.128%7-day average −0.039% · you buy dearer than you sell

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

Long on Paradex Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)−0.426%−$43 · spread now −0.128%, 7d avg −0.039%

Together, before fees−0.479%+ Points / potential airdropParadex: Active · farm board−$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Derive is 0.089% cheaper against Paradex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex SOL-USD-PERP	117.73	0.0100	pay 0.0100% / 8h	5h 12m	$1.0M	$516K	50x
Short	Derive SOL-PERP	117.58	−0.0010	pay 0.0001% / 1h	12m 08s	$1.9M	$2.8M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Paradex. 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 ParadexbpFee DerivebpOrdersPrice spread, now −0.128%Rate

Funding earned: −$23.14
Price spread: −0.128% → −0.039%: −$8.91
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Derive: 3 bp × 2 orders: −$6
Net: −$42.04
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Paradex: live order book, 2 min ago; Derive: no order-book sample. 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 Paradex live order book, 2 min ago	1.95 bp	4.0 bp −$4	10.0 bp −$100	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Bluefin SOL-PERP	−0.0086%	1h	117.66	−0.065%	$25K	$28K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.73	0.000%	$921	$8K	25x	as long as short
Vest SOL-PERP	−0.0070%	1h	117.65	−0.071%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.65	−0.068%	$31.5M	$98.8M	100x	as long as short
Derive SOL-PERPshort	−0.0010%	1h	117.58	−0.128%	$1.9M	$2.8M	13x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.67	−0.055%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.74	+0.002%	$4.5M	$24.1M	20x	as long as short
Hibachi SOL/USDT-P	+0.0040%	1h	117.85	+0.094%	$105K	$696K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.71	−0.021%	$100K	$165K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.67	−0.051%	$7.9M	$403.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0069%	1h	117.70	−0.029%	$26.4M	$24.9M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.66	−0.061%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.65	−0.070%	$13.2M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.64	−0.081%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.65	−0.071%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.69	−0.038%	$54K	$852K	20x	as long as short
Paradex SOL-USD-PERPlong	+0.0100%	8h	117.73	long leg	$1.0M	$516K	50x
Nado SOL-PERP	+0.0100%	1h	117.73	0.000%	$5.8M	$38.8M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.66	−0.066%	$177.2M	$180.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.76	+0.019%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.63	−0.085%	$969.8M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.67	−0.055%	$830.8M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.64	−0.080%	$366.0M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.80	+0.056%	$239K	$864K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.72	−0.009%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.195%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.63	−0.089%	$857.8M	$654.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.65	−0.072%	$425.3M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.70	−0.031%	$130.6M	$213.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.64	−0.077%	$487.5M	$431.3M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.66	−0.062%	—	$363.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.65	−0.072%	$23.7M	$37.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.04	+0.261%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.86	+0.108%	$94.7M	$394.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.96	+0.191%	$48.3M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.83	+0.081%	$1.7M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.86	+0.107%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.67	−0.055%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.68	−0.047%	$199K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.67	−0.054%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.65	−0.072%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.81	+0.062%	$228.8M	$45.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.68	−0.046%	$45.9M	$100.5M	50x	as long as short
Kalshi KXSOLPERP	+0.0103%	8h	117.72	−0.012%	$1.4M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.61	−0.105%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.70	−0.030%	—	$215.6M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.89	+0.132%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.77	+0.030%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0173%	1h	117.77	+0.030%	$720.6M	$390.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.64	−0.080%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.207%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.69	−0.038%	$51.8M	$71.5M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.76	+0.020%	$127K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.68	−0.042%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0412%	1h	117.85	+0.098%	$25K	$51K	20x	as long as short