Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.001%

Price spread now: Phemex against 01 Exchange0.000%7-day average −0.028% · 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−$26as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now 0.000%, 7d avg −0.028%

Together, before fees−0.156%−$16 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 Phemex is 0.028% dearer against 01 Exchange than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange SOLUSD	116.57	0.0048	pay 0.0006% / 1h	2m 34s	$99K	$177K	20x
Short	Phemex SOLUSDT	116.57	0.0100	get 0.0100% / 8h	1h 02m	$45.4M	$104.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.92
Price spread: 0.000% → −0.028%: $2.82
Slippage, 4 orders: −$9.64
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$14.9
Costs to cover: 0.286%
Break-even: 16.5 days

Slippage from 01 Exchange: live order book, 42 min ago; Phemex: live order book, 7 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 01 Exchange live order book, 42 min ago	0.43 bp	6.2 bp −$6	10.2 bp −$102	doesn't fit	doesn't fit
Sell Phemex live order book, 7 min ago	0.43 bp	7.1 bp −$7	7.5 bp −$75	15.2 bp −$1,517	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
Hibachi SOL/USDT-P	−0.0208%	1h	116.60	+0.022%	$97K	$678K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.50	−0.059%	$737.7M	$1.44B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.54	−0.029%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.61	+0.034%	$32.3M	$106.1M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.51	−0.053%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0047%	1h	116.55	−0.021%	—	$633K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.61	+0.031%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.63	+0.051%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.59	+0.021%	$106K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0017%	1h	116.58	+0.007%	$4.3M	$23.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0036%	8h	116.52	−0.044%	$480.4M	$459.2M	100x	as long as short
01 Exchange SOLUSDlong	+0.0048%	1h	116.57	long leg	$99K	$177K	20x
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.61	+0.035%	$8.0M	$402.4M	50x	as long as short
Lighter RH SOL	+0.0056%	1h	116.53	−0.035%	$2.2M	$17.0M	25x	as long as short
SoDEX SOL-USD	+0.0070%	1h	116.56	−0.009%	$6.1M	$11.0M	20x	as long as short
Aster SOLUSDT	+0.0073%	8h	116.51	−0.049%	$176.5M	$169.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0082%	8h	116.56	−0.012%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.57	−0.003%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.52	−0.043%	$13.1M	$61.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.55	−0.021%	$353K	$254K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.52	−0.043%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.57	−0.001%	$5.3M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.64	+0.060%	$701.1M	$408.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.58	+0.006%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.52	−0.043%	$965.7M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.54	−0.026%	$367.1M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.57	0.000%	$217K	$825K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.56	−0.013%	$899K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.017%	$125.4M	$26.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.53	−0.034%	$849.0M	$676.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.52	−0.043%	$369.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.54	−0.028%	$133.0M	$233.0M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.53	−0.039%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.56	−0.009%	$23.0M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.69	+0.107%	$25.1M	$110.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.63	+0.054%	$93.6M	$408.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.62	+0.046%	$47.7M	$29.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.66	+0.075%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.63	+0.051%	$1.3M	$11.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.55	−0.017%	$312K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.55	−0.014%	$241K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.58	+0.005%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.57	0.000%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.57	0.000%	$225.7M	$50.4M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.57	0.000%	$45.4M	$104.9M	50x
Extended SOL-USD	+0.0104%	1h	116.49	−0.069%	$8.0M	$38.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.60	+0.026%	—	$233.7M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0133%	1h	116.64	+0.062%	$26.4M	$21.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.62	+0.043%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.73	+0.137%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.52	−0.042%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.53	−0.034%	$52.1M	$66.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.56	−0.007%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.61	+0.034%	$2.1M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0488%	1h	116.65	+0.071%	$25K	$57K	20x	as long as short