Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0079%/8h= −8.6% APRpaid last 24h −0.021%

Price spread now: edgeX against Phoenix−0.144%7-day average −0.149% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 7 days−0.031%−$3 · spread now −0.144%, 7d avg −0.149%

Together, before fees−0.294%+ Points / potential airdropedgeX: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.149%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SOL	116.11	0.0179	pay 0.0022% / 1h	35m 28s	$6.4M	$13.7M	25x
Short	edgeX SOLUSDC	115.94	0.0100	get 0.0050% / 4h	2h 35m	$93.1M	$405.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phoenix. 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 PhoenixbpFee edgeXbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$16.51
Price spread: −0.144% → −0.149%: $0.51
Slippage, 4 orders: −$7.42
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$39.42
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from Phoenix: live order book, 4 min ago; edgeX: 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 Phoenix live order book, 4 min ago	0.86 bp	4.6 bp −$5	5.7 bp −$57	15.4 bp −$1,539	doesn't fit
Sell edgeX live order book, 4 min ago	2.59 bp	7.1 bp −$7	7.1 bp −$71	7.2 bp −$717	10.7 bp −$5,355

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
Kraken Futures PF_SOLUSD	−0.0241%	1h	116.09	−0.015%	$31.8M	$103.8M	100x	as long as short
Hibachi SOL/USDT-P	−0.0216%	1h	116.01	−0.088%	$104K	$706K	20x	as long as short
Derive SOL-PERP	−0.0132%	1h	115.96	−0.127%	$1.9M	$2.9M	13x	as long as short
Bybit SOLUSDT	−0.0116%	8h	116.14	+0.026%	$742.0M	$1.41B	100x	as long as short
BingX SOL-USDT	−0.0115%	8h	116.17	+0.047%	—	$368.5M	—	as long as short
Vest SOL-PERP	−0.0109%	1h	116.12	+0.013%	—	$625K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.37	+0.220%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.17	+0.054%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.13	+0.013%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.18	+0.058%	$113K	$3.7M	8.3x	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	+0.0008%	1h	116.16	+0.043%	$99K	$177K	20x	as long as short
dYdX SOL-USD	+0.0013%	1h	116.13	+0.018%	$4.3M	$24.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.12	+0.011%	$7.8M	$405.0M	50x	as long as short
Bitget SOLUSDT	+0.0070%	8h	116.14	+0.030%	$481.0M	$454.9M	100x	as long as short
Bullet SOL-USD	+0.0078%	1h	116.17	+0.047%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	116.07	−0.031%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.14	+0.025%	$13.0M	$60.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.13	+0.015%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.07	−0.037%	$349K	$247K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0097%	1h	116.12	+0.006%	$26.3M	$22.0M	50x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.10	−0.009%	$65K	$906K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	116.21	+0.082%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.13	+0.015%	$5.3M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.23	+0.103%	$688.8M	$398.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.16	+0.039%	$174.3M	$184.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.19	+0.066%	$15.6M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.18	+0.064%	$964.8M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.15	+0.034%	$361.6M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.07	−0.034%	$216K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.19	+0.065%	$917K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.24	+0.110%	$130.1M	$16.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.16	+0.043%	$840.4M	$665.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.19	+0.069%	$358.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.13	+0.016%	$123.9M	$229.0M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.10	−0.009%	$22.9M	$40.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.00	−0.097%	$24.8M	$114.4M	—	as long as short
edgeX SOLUSDCshort	+0.0100%	4h	115.94	−0.144%	$93.1M	$405.7M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	115.99	−0.103%	$47.5M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.00	−0.096%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.96	−0.129%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.14	+0.026%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.06	−0.041%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.05	−0.052%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.07	−0.034%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.03	−0.069%	$224.8M	$49.9M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.14	+0.026%	$45.2M	$104.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.13	+0.013%	$7.9M	$38.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.16	+0.039%	—	$239.1M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.379%	$4K	$2K	12x	as long as short
Phoenix SOLlong	+0.0179%	1h	116.11	long leg	$6.4M	$13.7M	25x
Reya SOLRUSDPERP	+0.0193%	1h	116.14	+0.024%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.96	−0.129%	$51.9M	$67.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.17	+0.051%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.21	+0.084%	$2.0M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0600%	1h	116.15	+0.034%	$25K	$52K	20x	as long as short