Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Phemex against SoDEX+0.008%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.008%, 7d avg +0.014%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SOL-USD	117.70	0.0100	pay 0.0013% / 1h	19m 08s	$6.2M	$10.8M	20x
Short	Phemex SOLUSDT	117.71	0.0100	get 0.0100% / 8h	6h 19m	$45.9M	$101.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.014%: −$0.56
Slippage, 4 orders: −$3.93
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$24.49
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from SoDEX: live order book, 5 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 SoDEX live order book, 5 min ago	0.42 bp	4.4 bp −$4	5.0 bp −$50	17.9 bp −$1,790	doesn't fit
Sell Phemex live order book, 5 min ago	0.42 bp	7.7 bp −$8	8.8 bp −$88	16.6 bp −$1,662	doesn't fit

SOL on 54 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	117.72	+0.014%	$921	$8K	25x	as long as short
Vest SOL-PERP	−0.0066%	1h	117.65	−0.042%	—	$607K	20x	as long as short
Derive SOL-PERP	−0.0027%	1h	117.62	−0.068%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-P	−0.0008%	1h	117.78	+0.071%	$100K	$691K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.67	−0.024%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.67	−0.025%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.72	+0.017%	$1.4M	$20.8M	3.1x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.71	+0.005%	$2.0M	$4.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0028%	1h	117.71	+0.008%	$1.5M	$6.0M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0041%	1h	117.74	+0.034%	$26.4M	$25.5M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.69	−0.008%	$31.6M	$98.9M	100x	as long as short
HTX SOL-USDT	+0.0057%	8h	117.66	−0.034%	$228.7M	$45.5M	75x	as long as short
Gate SOL_USDT	+0.0058%	8h	117.68	−0.017%	$851.8M	$663.6M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.72	+0.015%	$8.0M	$409.0M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.75	+0.044%	—	$370.7M	—	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.69	−0.007%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.69	−0.008%	$13.1M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.69	−0.009%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.70	0.000%	$103K	$158K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.69	−0.006%	$345K	$258K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.69	−0.010%	$1.0M	$519K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.66	−0.034%	$64K	$855K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.67	−0.021%	$5.7M	$41.5M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.73	+0.022%	$176.7M	$179.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.69	−0.005%	$14.4M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.77	+0.059%	$970.7M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.78	+0.068%	$821.2M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.76	+0.051%	$366.0M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	−0.076%	$239K	$891K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.69	−0.011%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.00	+0.254%	$135.1M	$14.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.71	+0.008%	$426.4M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.69	−0.006%	$131.3M	$210.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.73	+0.024%	$487.7M	$441.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.74	+0.034%	$23.8M	$37.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.74	+0.037%	$24.4M	$122.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.77	+0.058%	$94.6M	$404.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.96	+0.222%	$48.3M	$28.8M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.57	−0.110%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.72	+0.017%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.65	−0.039%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.68	−0.014%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.68	−0.020%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USDlong	+0.0100%	1h	117.70	long leg	$6.2M	$10.8M	20x
Phemex SOLUSDTshort	+0.0100%	8h	117.71	+0.008%	$45.9M	$101.5M	50x
Phoenix SOL	+0.0101%	1h	117.70	0.000%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.66	−0.030%	$8.1M	$36.2M	50x	as long as short
Hyperliquid SOL	+0.0105%	1h	117.84	+0.119%	$720.7M	$400.5M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.68	−0.013%	—	$225.5M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.71	+0.005%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	+0.144%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.65	−0.042%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0340%	1h	117.82	+0.103%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.69	−0.005%	$129K	$3.9M	8.3x	as long as short