SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.6% APRnext payment −$0.08 per $10,000 · paid last 24h −0.021%

Price spread now: Deribit against Backpack+0.009%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Backpack Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$15 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now +0.009%, 7d avg +0.018%

Together, before fees−0.229%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	118.81	0.0100	pay 0.0013% / 1h	3m 03s	$24.1M	$38.6M	50x
Short	Deribit SOL_USDC-PERPETUAL	118.82	0.0040	get 0.0005% / 1h	3m 03s	$26.6M	$25.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$12.68
Price spread: +0.009% → +0.018%: −$0.94
Slippage, 4 orders: −$4.03
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$34.65
Costs to cover: 0.210%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; Deribit: live order book, 1 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, 1 min ago	0.42 bp	5.4 bp −$5	6.1 bp −$61	8.2 bp −$819	1568.7 bp −$784.3K
Sell Deribit live order book, 1 min ago	0.17 bp	5.1 bp −$5	5.9 bp −$59	19.1 bp −$1,911	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
Derive SOL-PERP	−0.0100%	1h	118.69	−0.102%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.76	−0.044%	$842	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	118.71	−0.082%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0019%	1h	118.76	−0.039%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.79	−0.018%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.81	+0.003%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.77	−0.032%	$175K	$3.9M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0002%	1h	118.55	−0.219%	$1.5M	$6.1M	50x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0040%	1h	118.82	+0.009%	$26.6M	$25.7M	50x
Gate SOL_USDT	+0.0065%	8h	118.75	−0.051%	$860.1M	$689.7M	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	+0.0077%	8h	118.78	−0.024%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0079%	8h	118.69	−0.103%	$231.0M	$45.1M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.78	−0.025%	$104K	$158K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.73	−0.064%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.79	−0.013%	$122K	$642K	20x	as long as short
Lighter SOL	+0.0096%	1h	118.76	−0.040%	$13.4M	$56.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.75	−0.049%	$2.1M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.79	−0.018%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.80	−0.008%	$8.1M	$416.5M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.76	−0.041%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.74	−0.059%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.75	−0.050%	$5.8M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.86	+0.042%	$718.8M	$407.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.76	−0.042%	$178.4M	$177.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.79	−0.016%	$12.2M	$122.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.76	−0.038%	$979.8M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.79	−0.019%	$823.3M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.77	−0.034%	$370.7M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.44	−0.311%	$230K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.79	−0.017%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.65	−0.137%	$133.6M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.77	−0.034%	$426.8M	$1.14B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.78	−0.029%	$137.5M	$206.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.75	−0.047%	$492.7M	$458.7M	100x	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	118.81	long leg	$24.1M	$38.6M	50x
Variational Omni SOL	+0.0100%	8h	118.48	−0.279%	$27.0M	$128.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.60	−0.178%	$95.3M	$403.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.57	−0.205%	$48.6M	$30.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.79	−0.017%	$1.4M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.78	−0.025%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.77	−0.035%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.77	−0.030%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.74	−0.062%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.76	−0.042%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.75	−0.051%	$46.5M	$102.5M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.64	−0.143%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.74	−0.059%	$8.7M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.77	−0.035%	$32.6M	$97.1M	100x	as long as short
Aftermath Perps SOLUSD	+0.0117%	1h	118.67	−0.117%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.78	−0.028%	—	$225.8M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0166% / S −0.0070%	1h	118.78	−0.027%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.66	−0.126%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0185%	1h	118.77	−0.034%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.76	−0.042%	$51.8M	$80.1M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.76	−0.041%	$1.8M	$4.8M	20x	as long as short