Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.042%

Price spread now: Jupiter Perps against Phemex+0.029%7-day average −0.001% · you sell dearer than you buy

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

Long on Phemex Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.164%−$16 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now +0.029%, 7d avg −0.001%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Jupiter Perps is 0.030% dearer against Phemex than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.001%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	117.06	0.0100	pay 0.0100% / 8h	6h 18m	$45.4M	$101.4M	50x
Short	Jupiter Perps SOL-PERP	117.09	L +0.0112% / S +0.0056%	pay 0.0007% / 1h	18m 29s	—	$213.5M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps 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 Jupiter PerpsbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$32.76
Price spread: +0.029% → −0.001%: $3.04
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$53.72
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Jupiter Perps: 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 Phemex live order book, 4 min ago	0.43 bp	7.2 bp −$7	8.2 bp −$82	16.6 bp −$1,663	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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 54 exchanges

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	−0.0773%	1h	117.05	−0.008%	$27K	$35K	25x	as long as short
Hibachi SOL/USDT-P	−0.0184%	1h	117.05	−0.009%	$99K	$649K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.07	+0.009%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0044%	8h	117.19	+0.111%	$734.6M	$1.26B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.05	−0.011%	$39K	—	150x	as long as short
Perpl SOL	0.0000%	43m	117.19	+0.108%	$99K	$2.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.10	+0.034%	$26.3M	$18.7M	50x	as long as short
Vest SOL-PERP	+0.0001%	1h	117.17	+0.093%	—	$284K	20x	as long as short
Bitget SOLUSDT	+0.0027%	8h	117.21	+0.127%	$483.2M	$408.5M	100x	as long as short
Injective SOL/USDC PERP	+0.0033%	1h	116.85	−0.179%	$4K	$122	12x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.08	+0.015%	$8.4M	$374.8M	50x	as long as short
Aster SOLUSDT	+0.0044%	8h	117.18	+0.103%	$177.8M	$158.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	117.03	−0.022%	$1.0M	$5.3M	100x	as long as short
SoDEX SOL-USD	+0.0067%	1h	117.04	−0.017%	$6.2M	$11.1M	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.20	+0.120%	$101K	$181K	20x	as long as short
Gate SOL_USDT	+0.0077%	8h	117.11	+0.043%	$850.9M	$600.0M	100x	as long as short
MEXC SOL_USDT	+0.0092%	8h	117.21	+0.128%	$431.1M	$993.5M	300x	as long as short
Binance SOLUSDT	+0.0093%	8h	117.18	+0.103%	$967.7M	$3.49B	100x	as long as short
ApeX Omni SOLUSDT	+0.0095%	1h	117.18	+0.103%	$1.1M	$6.7M	50x	as long as short
Lighter SOL	+0.0096%	1h	117.10	+0.035%	$13.2M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.08	+0.017%	$2.2M	$13.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.99	−0.056%	$349K	$257K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.10	+0.036%	$1.0M	$557K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.15	+0.077%	$45K	$864K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.16	+0.081%	$5.6M	$39.4M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.13	+0.061%	$15.9M	$116.6M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.21	+0.128%	$360.9M	$1.58B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.18	+0.103%	$222K	$775K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.20	+0.118%	$901K	$7.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.25	+0.165%	$127.0M	$16.9M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.20	+0.117%	$134.1M	$229.5M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.14	+0.072%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.06	0.000%	$23.2M	$35.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.07	+0.009%	$25.1M	$100.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.16	+0.087%	$94.1M	$383.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.14	+0.071%	$47.9M	$25.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.14	+0.068%	$1.3M	$10.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.20	+0.120%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.22	+0.141%	$285K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.05	−0.012%	$190K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.10	+0.032%	$226.5M	$41.6M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	117.06	long leg	$45.4M	$101.4M	50x
Kalshi KXSOLPERP	+0.0101%	8h	117.11	+0.039%	$1.3M	$16.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.10	+0.034%	$8.5M	$33.4M	50x	as long as short
Jupiter Perps SOL-PERPshort	L +0.0112% / S +0.0056%	1h	117.09	+0.029%	—	$213.5M	500x
Phoenix SOL	+0.0129%	1h	117.26	+0.171%	$6.6M	$12.8M	25x	as long as short
dYdX SOL-USD	+0.0130%	1h	117.18	+0.103%	$9.3M	$18.1M	20x	as long as short
Hyperliquid SOL	+0.0163%	1h	117.35	+0.248%	$719.4M	$375.0M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0185%	1h	117.08	+0.014%	$32.5M	$93.6M	100x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.18	+0.104%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0213%	8h	117.04	−0.017%	$51.6M	$57.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0170%	1h	117.06	0.000%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0273%	1h	117.22	+0.136%	$2.2M	$4.5M	20x	as long as short
Aftermath Perps SOLUSD	+0.0403%	1h	117.18	+0.101%	$25K	$54K	20x	as long as short