Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.054%

Price spread now: Hotstuff against Aster−0.022%52s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Hotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.022% cheaper against Aster than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SOLUSDT	118.66	0.0100	pay 0.0100% / 8h	7m 46s	$178.4M	$177.2M	100x
Short	Hotstuff SOL-PERP	118.64	−0.0080	pay 0.0010% / 1h	7m 46s	$841	$8K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Aster. 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 AsterbpFee HotstuffbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$37.8
Price spread: −0.022% → 0.000%: −$2.22
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$53.02
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 1 min ago; Hotstuff: 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 Aster live order book, 1 min ago	0.42 bp	4.4 bp −$4	4.4 bp −$44	7.2 bp −$718	32.9 bp −$16.5K
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Derive SOL-PERP	−0.0100%	1h	118.62	−0.034%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERPshort	−0.0080%	1h	118.64	−0.022%	$841	$8K	25x
Vest SOL-PERP	−0.0077%	1h	118.61	−0.049%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	118.67	+0.008%	$4.8M	$28.0M	20x	as long as short
ApeX Omni SOLUSDT	−0.0014%	1h	118.53	−0.113%	$1.5M	$6.2M	50x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.72	+0.048%	$113K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.68	+0.018%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.65	−0.015%	$175K	$3.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0048%	1h	118.75	+0.075%	$26.6M	$25.7M	50x	as long as short
Gate SOL_USDT	+0.0069%	8h	118.67	+0.006%	$866.0M	$687.5M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0076%	8h	118.72	+0.045%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0078%	8h	118.62	−0.033%	$230.9M	$45.1M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.72	+0.048%	$104K	$158K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.67	+0.006%	—	$372.7M	—	as long as short
Lighter SOL	+0.0096%	1h	118.62	−0.039%	$13.4M	$56.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.61	−0.043%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.68	+0.018%	$120K	$631K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.70	+0.034%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.73	+0.060%	$8.1M	$416.1M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.66	−0.004%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.67	+0.006%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.61	−0.041%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.75	+0.073%	$718.1M	$407.2M	20x	as long as short
Aster SOLUSDTlong	+0.0100%	8h	118.66	long leg	$178.4M	$177.2M	100x
Pacifica SOL	+0.0100%	1h	118.67	+0.009%	$12.2M	$122.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.62	−0.033%	$978.2M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.67	+0.006%	$822.8M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.63	−0.028%	$370.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.55	−0.095%	$229K	$877K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.68	+0.014%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.65	−0.014%	$133.6M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.68	+0.014%	$426.7M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.68	+0.017%	$137.9M	$206.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.62	−0.036%	$492.1M	$458.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.73	+0.056%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.156%	$26.9M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.54	−0.102%	$95.2M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.48	−0.151%	$48.5M	$30.8M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.62	−0.037%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.68	+0.014%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.69	+0.025%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.68	+0.012%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.63	−0.032%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.70	+0.031%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.72	+0.048%	$46.4M	$102.4M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.69	+0.022%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.68	+0.011%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.72	+0.047%	$32.5M	$97.0M	100x	as long as short
Aftermath Perps SOLUSD	+0.0118%	1h	118.64	−0.017%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.66	−0.002%	—	$226.0M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0070%	1h	118.71	+0.036%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.208%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.67	+0.002%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.63	−0.028%	$51.8M	$80.0M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.66	−0.006%	$1.8M	$4.9M	20x	as long as short