SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0051%/8h= +5.5% APRnext payment +$0.06 per $10,000 · paid last 24h +0.023%

Price spread now: Phoenix against Polymarket Perps+0.291%7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs+$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.336%+$34 on $10k

Price spread, last 7 days−0.171%−$17 · spread now +0.291%, 7d avg +0.126%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.166% dearer against Polymarket Perps than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SOL-USD	116.71	0.0100	pay 0.0013% / 1h	49m 21s	$321K	$2.6M	20x
Short	Phoenix SOL	117.05	0.0151	get 0.0019% / 1h	49m 21s	$6.5M	$13.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.291%Rate

Funding earned: $10.63
Price spread: +0.291% → +0.126%: $16.57
Slippage, 4 orders: −$3.9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $8.29
Costs to cover: 0.189%
Break-even: 1.5 days

Slippage from Polymarket Perps: live order book, 5 min ago; Phoenix: 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, 5 min ago	0.43 bp	4.4 bp −$4	6.1 bp −$61	17.1 bp −$1,715	doesn't fit
Sell Phoenix live order book, 5 min ago	0.86 bp	4.6 bp −$5	5.7 bp −$57	12.6 bp −$1,256	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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.79	+0.073%	$31.2M	$100.8M	100x	as long as short
Hibachi SOL/USDT-P	−0.0160%	1h	116.77	+0.053%	$103K	$699K	20x	as long as short
Vest SOL-PERP	−0.0091%	1h	116.70	−0.010%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.81	+0.087%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.76	+0.042%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.98	+0.234%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0004%	1h	116.74	+0.026%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.69	−0.020%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.78	+0.056%	$7.4M	$404.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.77	+0.049%	$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
Lighter SOL	+0.0096%	1h	116.72	+0.004%	$13.0M	$59.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.71	−0.001%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.78	+0.060%	$99K	$174K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.76	+0.045%	$347K	$244K	20x	as long as short
Bybit SOLUSDT	+0.0096%	8h	116.66	−0.045%	$769.5M	$1.37B	100x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.70	−0.009%	$50K	$882K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.78	+0.061%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.70	−0.009%	$5.4M	$40.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.82	+0.094%	$705.1M	$393.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.71	0.000%	$174.7M	$183.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.74	+0.027%	$15.8M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.76	+0.043%	$975.4M	$3.81B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.76	+0.043%	$367.7M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.90	+0.163%	$230K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.75	+0.032%	$920K	$8.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.71	0.000%	$850.5M	$657.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.74	+0.026%	$365.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	+0.026%	$129.1M	$222.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.68	−0.026%	$480.1M	$443.0M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.72	+0.012%	—	$365.9M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.75	+0.034%	$23.1M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.95	+0.210%	$24.6M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.88	+0.147%	$93.8M	$398.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.05	+0.291%	$47.8M	$30.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.99	+0.243%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.77	+0.051%	$1.3M	$12.8M	30x	as long as short
Polymarket Perps SOL-USDlong	+0.0100%	1h	116.71	long leg	$321K	$2.6M	20x
Bullet SOL-USD	+0.0100%	1h	116.74	+0.029%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.75	+0.033%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.96	+0.213%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.78	+0.060%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.80	+0.078%	$226.4M	$47.8M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.83	+0.103%	$45.8M	$102.7M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.90	+0.163%	$134.0M	$22.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.67	−0.038%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	+0.009%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.84	+0.114%	—	$231.4M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0143%	1h	116.82	+0.095%	$26.4M	$23.3M	50x	as long as short
Phoenix SOLshort	+0.0151%	1h	117.05	+0.291%	$6.5M	$13.8M	25x
Reya SOLRUSDPERP	+0.0191%	1h	116.68	−0.027%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.00	+0.248%	$52.0M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.74	+0.030%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.76	+0.045%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0520%	1h	116.85	+0.124%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.80	+0.073%	$1.9M	$4.8M	20x	as long as short