Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%

Price spread now: Phemex against BingX+0.026%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on BingX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.177%−$18 · spread now +0.026%, 7d avg +0.032%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDC	117.02	0.0100	pay 0.0100% / 8h	3h 53m	—	$10.5M	—
Short	Phemex SOLUSDT	117.05	0.0100	get 0.0100% / 8h	3h 53m	$45.8M	$102.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BingX. 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 BingXbpFee PhemexbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → +0.032%: −$0.56
Slippage, 4 orders: −$5.59
Fee BingX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$28.16
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Phemex: live order book, 6 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 BingX live order book, 10 min ago	0.30 bp	5.8 bp −$6	8.4 bp −$84	12.9 bp −$1,287	24.7 bp −$12.3K
Sell Phemex live order book, 6 min ago	0.43 bp	8.5 bp −$9	9.0 bp −$90	19.0 bp −$1,901	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
Kraken Futures PF_SOLUSD	−0.0192%	1h	117.08	+0.049%	$31.2M	$100.8M	100x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	116.92	−0.081%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0095%	1h	116.92	−0.088%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.84	−0.149%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.04	+0.017%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.80	−0.185%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0006%	1h	116.94	−0.068%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	117.00	−0.014%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	117.09	+0.060%	$7.5M	$405.9M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	117.08	+0.050%	$1.0M	$5.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SOL	+0.0096%	1h	117.07	+0.044%	$13.1M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.07	+0.044%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.00	−0.016%	$99K	$174K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.07	+0.045%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.89	−0.110%	$50K	$882K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.98	−0.032%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.94	−0.066%	$5.5M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.16	+0.120%	$707.4M	$393.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.05	+0.026%	$175.3M	$182.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.96	−0.047%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.07	+0.041%	$976.9M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.98	−0.036%	$775.8M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.06	+0.035%	$368.9M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.77	−0.213%	$231K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.97	−0.039%	$926K	$8.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.06	+0.035%	$849.7M	$655.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.07	+0.044%	$367.6M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.05	+0.029%	$129.4M	$222.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.02	−0.002%	$480.9M	$442.3M	100x	as long as short
BingX SOL-USDClong	+0.0100%	8h	117.02	long leg	—	$10.5M	—
Backpack SOL_USDC_PERP	+0.0100%	1h	117.08	+0.052%	$23.3M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.63	−0.329%	$24.5M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.75	−0.226%	$93.7M	$398.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.61	−0.350%	$47.7M	$30.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.90	−0.099%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.86	−0.136%	$1.3M	$12.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.00	−0.016%	$323K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.03	+0.011%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.05	+0.026%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.04	+0.016%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.06	+0.035%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.98	−0.031%	$226.9M	$47.7M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.05	+0.026%	$45.8M	$102.6M	50x
Bulk SOL-USD	+0.0100%	1h	116.90	−0.102%	$134.0M	$22.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.99	−0.023%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	−0.256%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.76	−0.225%	—	$231.4M	500x	as long as short
Phoenix SOL	+0.0151%	1h	117.05	+0.026%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.98	−0.032%	$1.1M	$541K	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0203%	1h	117.11	+0.078%	$26.4M	$23.3M	50x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.08	+0.052%	$52.1M	$67.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	117.04	+0.016%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.98	−0.029%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0533%	1h	116.84	−0.149%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	117.03	+0.013%	$1.9M	$4.8M	20x	as long as short