Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Ondo Perps against Backpack−0.060%7-day average −0.134% · you buy dearer than you sell

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

Long on Backpack Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days+0.060%+$6 · spread now −0.060%, 7d avg −0.134%

Together, before fees+0.056%+ Points / potential airdropOndo Perps: Active · farm board+$6 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: Ondo Perps is 0.074% dearer against Backpack than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.134%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	116.54	0.0100	pay 0.0013% / 1h	49m 39s	$23.3M	$37.6M	50x
Short	Ondo Perps SOL-USD.P	116.47	0.0100	get 0.0013% / 1h	49m 39s	$232K	$852K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → −0.134%: $7.36
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$7.64
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 5 min ago; Ondo Perps: 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 Backpack live order book, 5 min ago	0.43 bp	5.9 bp −$6	6.9 bp −$69	9.6 bp −$961	2072.7 bp −$1.04M
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Vest SOL-PERP	−0.0081%	1h	116.56	+0.017%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.73	+0.163%	$913	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0024%	1h	116.63	+0.081%	$103K	$700K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.60	+0.051%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.61	+0.063%	$1.4M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.56	+0.017%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.51	−0.025%	$1.9M	$2.8M	13x	as long as short
ApeX Omni SOLUSDT	+0.0017%	1h	116.69	+0.129%	$1.7M	$6.0M	50x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.61	+0.060%	$99K	$168K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.58	+0.031%	$7.6M	$403.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.56	+0.019%	$30.9M	$100.4M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0084%	1h	116.62	+0.068%	$26.3M	$25.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.59	+0.042%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.55	+0.006%	$13.0M	$59.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.53	−0.009%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.57	+0.029%	$342K	$236K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.61	+0.056%	$994K	$530K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.55	+0.009%	$48K	$858K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.55	+0.006%	$5.5M	$39.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.62	+0.069%	$706.3M	$395.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.53	−0.009%	$175.1M	$181.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.59	+0.044%	$15.7M	$129.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.55	+0.009%	$963.2M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.48	−0.051%	$792.2M	$1.33B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.51	−0.026%	$364.0M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.Pshort	+0.0100%	1h	116.47	−0.060%	$232K	$852K	10x
Arcus SOL-USD	+0.0100%	1h	116.54	−0.003%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	+0.101%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.54	0.000%	$846.8M	$653.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.54	0.000%	$415.0M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.53	−0.004%	$126.2M	$216.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.49	−0.040%	$481.2M	$439.3M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.53	−0.004%	—	$365.3M	—	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	116.54	long leg	$23.3M	$37.6M	50x
Variational Omni SOL	+0.0100%	8h	116.54	+0.004%	$24.4M	$114.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.65	+0.095%	$93.7M	$396.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.72	+0.151%	$47.7M	$29.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.62	+0.069%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.58	+0.034%	$331K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.59	+0.046%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.56	+0.017%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.59	+0.044%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.57	+0.026%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.64	+0.089%	$226.2M	$46.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.58	+0.034%	$45.6M	$101.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.47	−0.063%	$8.0M	$36.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.61	+0.057%	—	$221.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.875%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.76	+0.189%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.56	+0.015%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.67	+0.112%	$51.9M	$71.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.61	+0.057%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.61	+0.057%	$141K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0480%	1h	116.72	+0.154%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.67	+0.115%	$1.9M	$4.9M	20x	as long as short