Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Arcus against Phemex−0.073%7-day average +0.029% · 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−$32as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%$0 on $10k

Price spread, last 3 days (all we have)+0.182%+$18 · spread now −0.073%, 7d avg +0.029%

Together, before fees+0.187%+$19 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: Arcus is 0.102% cheaper against Phemex than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	118.56	0.0100	pay 0.0100% / 8h	25m 04s	$46.3M	$103.0M	50x
Short	Arcus SOL-USD	118.47	0.0100	get 0.0013% / 1h	25m 04s	$1.9M	$9.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → +0.029%: −$10.23
Slippage, 4 orders: −$5.32
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$32.05
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Arcus: 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 Phemex live order book, 4 min ago	0.42 bp	7.9 bp −$8	8.7 bp −$87	17.2 bp −$1,716	doesn't fit
Sell Arcus live order book, 4 min ago	0.25 bp	2.6 bp −$3	2.7 bp −$27	5.7 bp −$565	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	118.62	+0.054%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0075%	1h	118.49	−0.061%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0069%	1h	118.48	−0.070%	$2.0M	$2.8M	13x	as long as short
dYdX SOL-USD	−0.0015%	1h	118.43	−0.110%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.55	−0.009%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.61	+0.040%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.51	−0.044%	$175K	$4.0M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0019%	1h	118.84	+0.236%	$1.5M	$6.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0032%	1h	118.63	+0.059%	$26.6M	$26.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0075%	8h	118.55	−0.008%	$1.0M	$5.9M	100x	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	+0.0080%	1h	118.49	−0.059%	$103K	$158K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.54	−0.019%	—	$372.6M	—	as long as short
Gate SOL_USDT	+0.0081%	8h	118.55	−0.008%	$860.5M	$681.6M	100x	as long as short
HTX SOL-USDT	+0.0084%	8h	118.44	−0.102%	$230.6M	$45.1M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.56	+0.002%	$13.4M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.56	−0.003%	$2.2M	$17.0M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.72	+0.138%	$119K	$629K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.54	−0.019%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.58	+0.019%	$8.1M	$415.3M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.43	−0.110%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.38	−0.152%	$45K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.49	−0.055%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.62	+0.051%	$717.9M	$412.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.54	−0.020%	$177.5M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.48	−0.065%	$12.2M	$121.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.52	−0.034%	$978.1M	$3.83B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.52	−0.034%	$822.3M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.49	−0.059%	$368.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.38	−0.152%	$232K	$872K	10x	as long as short
Arcus SOL-USDshort	+0.0100%	1h	118.47	−0.073%	$1.9M	$9.0M	20x
Bulk SOL-USD	+0.0100%	1h	118.93	+0.313%	$133.7M	$5.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.55	−0.008%	$428.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.54	−0.020%	$137.9M	$205.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.50	−0.053%	$491.1M	$460.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.55	−0.008%	$24.1M	$38.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.69	+0.111%	$27.1M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.84	+0.239%	$95.5M	$400.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.79	+0.191%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.73	+0.143%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.48	−0.067%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.53	−0.025%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.53	−0.026%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.51	−0.039%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.56	0.000%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	118.56	long leg	$46.3M	$103.0M	50x
Phoenix SOL	+0.0100%	1h	118.92	+0.304%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.53	−0.027%	$8.7M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.59	+0.025%	$32.4M	$97.4M	100x	as long as short
Aftermath Perps SOLUSD	+0.0111%	1h	118.88	+0.266%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.66	+0.085%	—	$226.2M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0168% / S −0.0066%	1h	118.54	−0.015%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.295%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.48	−0.070%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.57	+0.008%	$52.2M	$80.4M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.45	−0.089%	$1.6M	$5.2M	20x	as long as short