Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: edgeX against Backpack+0.074%7-day average −0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

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

costs, in and out, $10k−$250.249% of the position

Long on Backpack Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 7 days+0.636%+$64 · spread now +0.074%, 7d avg −0.105%

Together, before fees+0.616%+ Points / potential airdropedgeX: Active · farm board+$62 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: edgeX is 0.179% dearer against Backpack than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	119.62	0.0100	pay 0.0013% / 1h	38m 32s	$24.2M	$38.7M	50x
Short	edgeX SOLUSDC	119.71	0.0100	get 0.0050% / 4h	1h 38m	$96.1M	$398.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → −0.105%: $17.87
Slippage, 4 orders: −$5.85
Fee Backpack: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$6.98
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; edgeX: 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	6.7 bp −$67	8.5 bp −$849	1574.0 bp −$787.0K
Sell edgeX live order book, 1 min ago	2.51 bp	7.0 bp −$7	7.0 bp −$70	7.1 bp −$709	10.2 bp −$5,090

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
Bluefin SOL-PERP	−0.0358%	1h	119.58	−0.033%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0095%	1h	119.49	−0.111%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.58	−0.029%	$848	$8K	25x	as long as short
Vest SOL-PERP	−0.0062%	1h	119.63	+0.007%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0002%	1h	119.62	+0.004%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.61	−0.006%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.65	+0.028%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.61	−0.008%	$178K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0010%	1h	119.64	+0.015%	$26.8M	$27.6M	50x	as long as short
Hibachi SOL/USDT-P	+0.0016%	1h	119.81	+0.157%	$120K	$611K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SOL	+0.0054%	1h	119.84	+0.184%	$6.6M	$13.6M	25x	as long as short
Aftermath Perps SOLUSD	+0.0065%	1h	119.56	−0.052%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	119.60	−0.017%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0077%	8h	119.56	−0.049%	$232.9M	$44.6M	75x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.65	+0.022%	—	$373.9M	—	as long as short
Gate SOL_USDT	+0.0086%	8h	119.58	−0.033%	$872.1M	$680.1M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.61	−0.010%	$13.6M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.56	−0.049%	$2.1M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	119.73	+0.092%	$105K	$153K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.56	−0.053%	$354K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.58	−0.035%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.63	+0.008%	$45K	$790K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.65	+0.025%	$6.2M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.67	+0.042%	$721.5M	$414.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.63	+0.012%	$179.1M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.62	+0.003%	$12.4M	$117.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.68	+0.050%	$990.0M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.71	+0.075%	$827.4M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.70	+0.067%	$372.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.74	+0.100%	$234K	$889K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.69	+0.063%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.60	−0.017%	$456.2M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.61	−0.008%	$141.3M	$200.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.63	+0.011%	$496.8M	$454.8M	100x	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	119.62	long leg	$24.2M	$38.7M	50x
Variational Omni SOL	+0.0100%	8h	119.76	+0.118%	$27.8M	$127.8M	—	as long as short
edgeX SOLUSDCshort	+0.0100%	4h	119.71	+0.074%	$96.1M	$398.7M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	119.74	+0.102%	$49.0M	$31.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.73	+0.091%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.78	+0.134%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.58	−0.033%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.59	−0.022%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.56	−0.049%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.60	−0.017%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.64	+0.017%	$46.7M	$101.7M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.75	+0.107%	$134.3M	$8.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.61	−0.005%	$8.7M	$36.2M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.64	+0.017%	$8.2M	$415.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.64	+0.018%	—	$222.2M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.61	−0.009%	$32.6M	$95.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.60	−0.019%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.58	−0.031%	$1.1M	$558K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.68	+0.053%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.410%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.62	0.000%	$52.1M	$82.9M	125x	as long as short