Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Paradex against Backpack−0.024%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$190.194% of the position

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now −0.024%, 7d avg 0.000%

Together, before fees+0.010%+ Points / potential airdropParadex: Active · farm board+$1 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: Paradex is 0.024% cheaper against Backpack than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SOL_USDC_PERP	118.14	0.0100	pay 0.0013% / 1h	25m 39s	$23.8M	$37.4M	50x
Short	Paradex SOL-USD-PERP	118.11	0.0100	get 0.0100% / 8h	6h 25m	$1.0M	$519K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$0.08
Price spread: −0.024% → 0.000%: −$2.37
Slippage, 4 orders: −$5.36
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$21.82
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Paradex: live order book, 3 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, 4 min ago	0.42 bp	6.0 bp −$6	7.5 bp −$75	9.7 bp −$970	2095.7 bp −$1.05M
Sell Paradex live order book, 3 min ago	1.95 bp	4.0 bp −$4	10.3 bp −$103	doesn't fit	doesn't fit

SOL on 54 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
Hotstuff SOL-PERP	−0.0080%	1h	118.07	−0.058%	$923	$8K	25x	as long as short
Vest SOL-PERP	−0.0069%	1h	118.01	−0.112%	—	$607K	20x	as long as short
Derive SOL-PERP	−0.0049%	1h	118.06	−0.065%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	117.98	−0.138%	$92K	$682K	20x	as long as short
ApeX Omni SOLUSDT	−0.0003%	1h	117.89	−0.207%	$1.5M	$6.0M	50x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.13	−0.009%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.03	−0.093%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.99	−0.130%	$1.4M	$21.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.12	−0.014%	$129K	$3.9M	8.3x	as long as short
RISEx SOL/USDC	+0.0018%	1h	118.07	−0.060%	$2.0M	$4.7M	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0044%	8h	118.10	−0.034%	$229.5M	$45.5M	75x	as long as short
Gate SOL_USDT	+0.0046%	8h	118.06	−0.068%	$854.1M	$662.0M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	118.15	+0.008%	$31.7M	$98.7M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	118.16	+0.019%	$8.0M	$410.7M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.08	−0.050%	—	$369.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	118.16	+0.014%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.02	−0.098%	$13.1M	$59.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.00	−0.114%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	118.08	−0.051%	$104K	$159K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.15	+0.007%	$346K	$256K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0100%	8h	118.11	−0.024%	$1.0M	$519K	50x
Katana Perps SOL-USD	+0.0100%	8h	118.00	−0.119%	$65K	$853K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.01	−0.106%	$5.7M	$41.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.07	−0.063%	$177.3M	$179.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.05	−0.073%	$14.4M	$128.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.05	−0.076%	$972.9M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.09	−0.046%	$823.2M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.08	−0.051%	$366.6M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.01	−0.110%	$239K	$894K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.07	−0.060%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.00	−0.119%	$135.1M	$14.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.06	−0.068%	$425.4M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.02	−0.104%	$131.7M	$210.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.05	−0.080%	$488.9M	$440.7M	100x	as long as short
Backpack SOL_USDC_PERPlong	+0.0100%	1h	118.14	long leg	$23.8M	$37.4M	50x
Variational Omni SOL	+0.0100%	8h	118.14	−0.004%	$24.5M	$122.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.87	−0.225%	$94.7M	$403.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.78	−0.301%	$48.2M	$29.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.02	−0.102%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.12	−0.017%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.12	−0.015%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.11	−0.025%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.05	−0.079%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.15	+0.008%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.11	−0.025%	$46.0M	$101.5M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.98	−0.135%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.04	−0.087%	$8.1M	$36.2M	50x	as long as short
Hyperliquid SOL	+0.0107%	1h	118.12	−0.017%	$721.8M	$402.8M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	118.05	−0.072%	—	$226.3M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0122%	1h	118.19	+0.042%	$26.5M	$25.5M	50x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	118.10	−0.032%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	−0.229%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	118.12	−0.015%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0323%	1h	117.90	−0.207%	$25K	$51K	20x	as long as short