Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Binance against Backpack+0.149%7-day average −0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs+$1as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days+0.539%+$54 · spread now +0.149%, 7d avg −0.081%

Together, before fees+0.461%+$46 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: Binance is 0.231% dearer against Backpack than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	118.97	0.0100	pay 0.0013% / 1h	37m 23s	$24.3M	$38.0M	50x
Short	Binance SOLUSDT	119.15	0.0100	get 0.0100% / 8h	2h 37m	$973.2M	$3.74B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now +0.149%Rate

Funding earned: $0
Price spread: +0.149% → −0.081%: $23.07
Slippage, 4 orders: −$1.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $1.39
Costs to cover: 0.217%
Break-even: from the start

Slippage from Backpack: live order book, 2 min ago; Binance: 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 Backpack live order book, 2 min ago	0.42 bp	5.4 bp −$5	7.1 bp −$71	10.3 bp −$1,035	2210.0 bp −$1.11M
Sell Binance live order book, 7 min ago	0.42 bp	5.4 bp −$5	5.6 bp −$56	7.7 bp −$771	17.5 bp −$8,767

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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	−0.067%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	119.06	+0.076%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0080%	1h	119.02	+0.043%	—	$724K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.72	−0.208%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0025%	1h	118.87	−0.085%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.16	+0.158%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.86	−0.093%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.11	+0.119%	$180K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.19	+0.181%	$26.7M	$27.6M	50x	as long as short
dYdX SOL-USD	0.0000%	1h	119.09	+0.097%	$4.9M	$26.9M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0042%	1h	118.74	−0.193%	$1.5M	$6.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0060%	8h	119.16	+0.161%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0068%	8h	119.05	+0.064%	$231.9M	$43.6M	75x	as long as short
BingX SOL-USDC	+0.0070%	8h	119.10	+0.112%	—	$10.5M	—	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.18	+0.177%	$104K	$152K	20x	as long as short
Gate SOL_USDT	+0.0083%	8h	119.11	+0.118%	$860.1M	$679.1M	100x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.93	−0.035%	$123K	$600K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.07	+0.084%	$13.5M	$53.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.01	+0.036%	$2.0M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.14	+0.141%	$354K	$741K	20x	as long as short
KuCoin SOLUSDTM	+0.0098%	8h	119.14	+0.140%	$143.6M	$196.5M	75x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.10	+0.106%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.13	+0.134%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.10	+0.113%	$5.5M	$40.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.21	+0.202%	$718.6M	$412.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.12	+0.126%	$179.4M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.10	+0.107%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	119.15	+0.149%	$973.2M	$3.74B	100x
Bybit SOLUSDT	+0.0100%	8h	119.15	+0.152%	$823.6M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.10	+0.109%	$370.7M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.08	+0.092%	$233K	$863K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.18	+0.174%	$1.9M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.13	+0.134%	$468.0M	$1.08B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.12	+0.129%	$497.1M	$448.4M	100x	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	118.97	long leg	$24.3M	$38.0M	50x
Variational Omni SOL	+0.0100%	8h	118.76	−0.180%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.71	−0.219%	$95.3M	$397.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.74	−0.191%	$48.6M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.87	−0.084%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.14	+0.143%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.13	+0.134%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.13	+0.136%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.10	+0.109%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.12	+0.126%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.10	+0.109%	$46.5M	$99.9M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	−0.219%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.11	+0.117%	$8.6M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.16	+0.163%	$8.1M	$414.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.15	+0.147%	—	$217.3M	500x	as long as short
Phoenix SOL	+0.0154%	1h	118.79	−0.151%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.18	+0.180%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.13	+0.131%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.63	−0.286%	$51.6M	$86.7M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.12	+0.130%	$36.1M	$89.3M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	119.15	+0.149%	$3.6M	—	200x	as long as short