Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Bulk against Arcus−0.111%7-day average −0.021% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on Arcus Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days+0.056%+$6 · spread now −0.111%, 7d avg −0.021%

Together, before fees+0.055%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.090% cheaper against Arcus than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus SOL-USD	116.68	0.0100	pay 0.0013% / 1h	40m 59s	$899K	$8.5M	20x
Short	Bulk SOL-USD	116.55	0.0100	get 0.0013% / 1h	40m 59s	$125.5M	$25.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Arcus. 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 ArcusbpFee BulkbpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → −0.021%: −$8.98
Slippage, 4 orders: −$9.85
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$30.33
Costs to cover: 0.214%
Break-even: never at this rate

Slippage from Arcus: live order book, 3 min ago; Bulk: live order book, 3 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 Arcus live order book, 3 min ago	0.43 bp	3.0 bp −$3	4.4 bp −$44	9.9 bp −$987	doesn't fit
Sell Bulk live order book, 3 min ago	4.29 bp	7.8 bp −$8	7.8 bp −$78	7.8 bp −$779	12.2 bp −$6,089

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	−0.0153%	1h	116.74	+0.052%	$32.5M	$106.3M	100x	as long as short
Hibachi SOL/USDT-P	−0.0144%	1h	116.76	+0.067%	$96K	$681K	20x	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.66	−0.017%	$737.2M	$1.43B	100x	as long as short
Derive SOL-PERP	−0.0095%	1h	116.63	−0.046%	$1.9M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.65	−0.025%	$1K	$8K	25x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.85	+0.146%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0047%	1h	116.66	−0.016%	—	$633K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.73	+0.043%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.73	+0.043%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.67	−0.010%	$106K	$3.5M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0008%	1h	116.71	+0.023%	$4.3M	$23.6M	20x	as long as short
Lighter RH SOL	+0.0016%	1h	116.69	+0.006%	$2.2M	$16.7M	25x	as long as short
Bitget SOLUSDT	+0.0027%	8h	116.68	−0.003%	$481.5M	$457.8M	100x	as long as short
SoDEX SOL-USD	+0.0030%	1h	116.69	+0.009%	$6.1M	$11.0M	20x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.72	+0.034%	$99K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.73	+0.047%	$8.0M	$402.0M	50x	as long as short
Aster SOLUSDT	+0.0060%	8h	116.68	0.000%	$177.2M	$168.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0075%	8h	116.69	+0.009%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.65	−0.023%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.70	+0.021%	$13.2M	$60.4M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.70	+0.016%	$352K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.64	−0.034%	$66K	$909K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.64	−0.034%	$5.4M	$41.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.83	+0.129%	$704.4M	$408.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.70	+0.021%	$15.7M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.68	+0.003%	$966.9M	$3.86B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.68	0.000%	$369.1M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.64	−0.034%	$218K	$832K	10x	as long as short
Arcus SOL-USDlong	+0.0100%	1h	116.68	long leg	$899K	$8.5M	20x
Bulk SOL-USDshort	+0.0100%	1h	116.55	−0.111%	$125.5M	$25.2M	20x
Gate SOL_USDT	+0.0100%	8h	116.69	+0.009%	$851.6M	$660.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.70	+0.017%	$368.2M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.69	+0.009%	$132.4M	$233.9M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.69	+0.010%	—	$373.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.70	+0.017%	$23.1M	$35.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.71	+0.028%	$25.0M	$108.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.64	−0.033%	$93.6M	$405.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.72	+0.031%	$47.8M	$29.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.70	+0.021%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.67	−0.009%	$1.3M	$11.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.68	0.000%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.68	−0.001%	$242K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.70	+0.016%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.65	−0.023%	$190K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.70	+0.020%	$225.9M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.70	+0.017%	$45.4M	$104.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.66	−0.018%	$8.2M	$37.6M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0106%	1h	116.77	+0.081%	$26.5M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.68	−0.004%	—	$233.7M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.80	+0.103%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.66	−0.016%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.64	−0.034%	$52.1M	$66.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.72	+0.034%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0479%	1h	116.74	+0.052%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.73	+0.043%	$2.1M	$4.8M	20x	as long as short