Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Phemex against Polymarket Perps0.000%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 3 days (all we have)−0.197%−$20 · spread now 0.000%, 7d avg +0.002%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SOL-USD	119.16	0.0100	pay 0.0013% / 1h	4m 19s	$365K	$2.4M	20x
Short	Phemex SOLUSDT	119.16	0.0100	get 0.0100% / 8h	2h 04m	$46.5M	$102.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.002%: −$0.22
Slippage, 4 orders: −$7.28
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$27.51
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Phemex: live order book, 5 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 Polymarket Perps live order book, 4 min ago	0.42 bp	6.6 bp −$7	11.5 bp −$115	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	0.42 bp	7.1 bp −$7	8.1 bp −$81	15.1 bp −$1,506	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
Injective SOL/USDC PERP	−0.0151%	1h	119.41	+0.210%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.14	−0.013%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0069%	1h	119.10	−0.053%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.07	−0.074%	$2.0M	$3.1M	13x	as long as short
dYdX SOL-USD	−0.0005%	1h	119.18	+0.019%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.19	+0.022%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.19	+0.024%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.16	+0.001%	$178K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0008%	1h	119.21	+0.041%	$26.7M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0042%	1h	119.29	+0.111%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0059%	8h	119.05	−0.089%	$231.9M	$44.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.19	+0.023%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.13	−0.028%	$120K	$633K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.19	+0.025%	$103K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.17	+0.013%	—	$374.9M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.13	−0.025%	$869.1M	$689.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.15	−0.011%	$13.6M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.13	−0.029%	$2.1M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.14	−0.017%	$353K	$748K	20x	as long as short
ApeX Omni SOLUSDT	+0.0099%	1h	119.21	+0.043%	$1.5M	$6.2M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.14	−0.019%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.17	+0.008%	$48K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.15	−0.008%	$6.3M	$42.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.26	+0.084%	$719.4M	$414.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.14	−0.016%	$178.7M	$176.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.18	+0.016%	$12.4M	$115.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.16	0.000%	$976.5M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.20	+0.034%	$824.3M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.15	−0.008%	$371.2M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.06	−0.084%	$233K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.22	+0.048%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.25	+0.076%	$133.7M	$10.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.16	0.000%	$442.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.16	−0.003%	$140.5M	$198.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.14	−0.018%	$497.0M	$453.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.12	−0.034%	$24.2M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.15	−0.009%	$27.5M	$127.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.32	+0.131%	$95.8M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.29	+0.113%	$48.8M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.14	−0.017%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USDlong	+0.0100%	1h	119.16	long leg	$365K	$2.4M	20x
Bullet SOL-USD	+0.0100%	1h	119.16	−0.003%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.15	−0.005%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.14	−0.013%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.15	−0.008%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	119.16	0.000%	$46.5M	$102.0M	50x
Extended SOL-USD	+0.0104%	1h	119.14	−0.013%	$8.7M	$36.6M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.18	+0.018%	$8.2M	$416.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.12	−0.032%	—	$222.0M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.18	+0.017%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.18	+0.016%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.21	+0.040%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.15	−0.011%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.10	−0.050%	$52.0M	$86.7M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.16	+0.003%	$35.4M	$91.3M	100x	as long as short