Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.036%

Price spread now: BloFin against Backpack+0.026%66s7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.240% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.161%+$16 on $10k

Price spread, last 4 days (all we have)−0.163%−$16 · spread now +0.026%, 7d avg −0.006%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.032% dearer against Backpack than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.006%. The two prices were read 66 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	Backpack SOL_USDC_PERP	116.39	0.0100	pay 0.0013% / 1h	9m 32s	$23.0M	$40.2M	50x
Short	BloFin SOL-USDT	116.42	0.0220	get 0.0220% / 8h	3h 09m	$51.9M	$67.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.026%Rate

Funding earned: $25.2
Price spread: +0.026% → −0.006%: $3.2
Slippage, 4 orders: −$2.02
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $4.38
Costs to cover: 0.240%
Break-even: 5.8 days

Slippage from Backpack: live order book, 5 min ago; BloFin: live order book, 5 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, 5 min ago	0.43 bp	5.4 bp −$5	6.3 bp −$63	8.5 bp −$848	1926.8 bp −$963.4K
Sell BloFin live order book, 5 min ago	0.43 bp	6.7 bp −$7	7.2 bp −$72	8.5 bp −$847	11.4 bp −$5,700

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	116.43	+0.034%	$104K	$703K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.42	+0.024%	$31.4M	$102.3M	100x	as long as short
Vest SOL-PERP	−0.0106%	1h	116.33	−0.049%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.41	+0.015%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0069%	8h	116.27	−0.103%	$749.2M	$1.40B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.31	−0.066%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.38	−0.009%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.40	+0.013%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0010%	1h	116.43	+0.034%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.42	+0.026%	$7.6M	$404.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0062%	1h	116.35	−0.031%	$147K	$1.6M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.38	−0.009%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0089%	8h	116.35	−0.033%	$480.2M	$447.0M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.39	+0.002%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.44	+0.045%	$13.1M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.41	+0.019%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.38	−0.005%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.36	−0.026%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.46	+0.059%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.42	+0.030%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.52	+0.112%	$701.8M	$394.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.35	−0.031%	$174.3M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.45	+0.048%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.37	−0.016%	$970.1M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.34	−0.043%	$367.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.017%	$224K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.42	+0.022%	$920K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.46	+0.060%	$132.4M	$15.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.44	+0.043%	$855.2M	$668.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.39	0.000%	$368.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.42	+0.027%	$128.7M	$224.3M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.39	+0.003%	—	$365.2M	—	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	116.39	long leg	$23.0M	$40.2M	50x
Variational Omni SOL	+0.0100%	8h	116.28	−0.092%	$25.0M	$114.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.48	+0.076%	$93.5M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.47	+0.068%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.54	+0.125%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.40	+0.009%	$1.3M	$12.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.36	−0.026%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.38	−0.010%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.36	−0.021%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.39	0.000%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.35	−0.037%	$225.4M	$48.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.40	+0.009%	$45.3M	$103.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.32	−0.057%	$8.3M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.266%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.38	−0.006%	—	$235.8M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0125%	1h	116.44	+0.040%	$26.2M	$23.1M	50x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.180%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.33	−0.050%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDTshort	+0.0220%	8h	116.42	+0.026%	$51.9M	$67.2M	125x
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0179%	1h	116.36	−0.027%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.38	−0.012%	$129K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.44	+0.045%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0575%	1h	116.52	+0.109%	$25K	$52K	20x	as long as short