Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:23 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Perpl against SunX+0.051%7-day average −0.009% · you sell dearer than you buy

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

Long on SunX Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.323%−$32 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now +0.051%, 7d avg −0.009%

Together, before fees−0.451%+ Points / potential airdropPerpl: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Perpl is 0.060% dearer against SunX than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.009%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SOL-USDT	116.32	0.0100	pay 0.0100% / 8h	7h 53m	$189K	$1.7M	30x
Short	Perpl SOL	116.38	0	get 0.0000% / 43m	25m 48s	$99K	$3.4M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against SunX. 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 SunXbpFee PerplbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$21
Price spread: +0.051% → −0.009%: $5.97
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$36.83
Costs to cover: 0.218%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 12 min ago; Perpl: 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 SunX live order book, 12 min ago	2.69 bp	21.5 bp −$22	29.2 bp −$292	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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 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
Phemex SOLUSDT	−0.0206%	8h	116.32	0.000%	$45.2M	$103.8M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.37	+0.043%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.32	−0.002%	$32.2M	$106.8M	100x	as long as short
Vest SOL-PERP	−0.0016%	1h	116.31	−0.008%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.31	−0.010%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.38	+0.051%	$4.3M	$23.4M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.36	+0.031%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	116.38	+0.051%	$99K	$3.4M	8.3x
Derive SOL-PERP	+0.0007%	1h	116.38	+0.053%	$1.9M	$3.0M	13x	as long as short
Bybit SOLUSDT	+0.0012%	8h	116.30	−0.021%	$731.5M	$1.41B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0025%	8h	116.30	−0.015%	$479.8M	$455.1M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.32	−0.003%	$7.8M	$396.1M	50x	as long as short
Hibachi SOL/USDT-P	+0.0048%	1h	116.22	−0.086%	$103K	$679K	20x	as long as short
Aster SOLUSDT	+0.0053%	8h	116.33	+0.012%	$176.8M	$169.2M	100x	as long as short
Lighter RH SOL	+0.0064%	1h	116.28	−0.035%	$2.1M	$14.6M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0067%	1h	116.35	+0.029%	$26.2M	$21.9M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0069%	8h	116.30	−0.014%	$1.0M	$6.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.30	−0.021%	$13.1M	$55.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.28	−0.037%	$351K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.32	+0.003%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.32	0.000%	$64K	$903K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.33	+0.010%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.42	+0.086%	$695.4M	$406.3M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.37	+0.047%	$15.7M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.33	+0.006%	$962.4M	$3.85B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.30	−0.017%	$366.4M	$1.76B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.07	−0.215%	$219K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.33	+0.012%	$919K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.33	+0.006%	$125.6M	$25.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.34	+0.017%	$847.8M	$605.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.33	+0.009%	$369.4M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.34	+0.016%	$129.6M	$237.3M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.32	+0.003%	—	$374.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.28	−0.034%	$22.8M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.26	−0.055%	$24.8M	$105.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.34	+0.016%	$93.4M	$404.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.27	−0.044%	$47.6M	$29.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.27	−0.040%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.35	+0.026%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.38	+0.052%	$318K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.35	+0.029%	$282K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.31	−0.013%	$27K	$36K	25x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	116.32	long leg	$189K	$1.7M	30x
SoDEX SOL-USD	+0.0100%	1h	116.29	−0.026%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.30	−0.017%	$225.2M	$50.6M	75x	as long as short
Extended SOL-USD	+0.0104%	1h	116.29	−0.030%	$8.2M	$36.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.27	−0.041%	—	$231.7M	500x	as long as short
01 Exchange SOLUSD	+0.0128%	1h	116.41	+0.077%	$100K	$181K	20x	as long as short
Phoenix SOL	+0.0130%	1h	116.35	+0.026%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	+0.017%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.31	−0.005%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.16	−0.137%	$52.4M	$64.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.33	+0.007%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0420%	1h	116.34	+0.013%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.40	+0.071%	$2.1M	$4.7M	20x	as long as short