Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.022%

Price spread now: Deribit against Bitget−0.042%7-day average +0.029% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$260.256% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$3 on $10k

Price spread, last 4 days (all we have)−0.290%−$29 · spread now −0.042%, 7d avg +0.029%

Together, before fees−0.325%−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.071% cheaper against Bitget than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SOLUSDT	117.34	0.0100	pay 0.0100% / 8h	5h 40m	$486.4M	$433.6M	100x
Short	Deribit SOL_USDC-PERPETUAL	117.29	0.0034	get 0.0004% / 1h	40m 53s	$26.3M	$25.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$13.86
Price spread: −0.042% → +0.029%: −$7.08
Slippage, 4 orders: −$6.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$46.52
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Deribit: 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 Bitget live order book, 3 min ago	0.04 bp	8.0 bp −$8	8.6 bp −$86	12.7 bp −$1,270	doesn't fit
Sell Deribit live order book, 3 min ago	1.62 bp	5.7 bp −$6	6.1 bp −$61	25.7 bp −$2,574	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
Hotstuff SOL-PERP	−0.0080%	1h	117.33	−0.004%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.27	−0.054%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.24	−0.084%	$31.6M	$98.4M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.19	−0.127%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.28	−0.049%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.32	−0.015%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.33	−0.004%	$1.4M	$19.4M	3.1x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0034%	1h	117.29	−0.042%	$26.3M	$25.2M	50x
01 Exchange SOLUSD	+0.0056%	1h	117.31	−0.023%	$100K	$163K	20x	as long as short
HTX SOL-USDT	+0.0056%	8h	117.26	−0.065%	$227.8M	$45.6M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.30	−0.028%	$8.0M	$402.6M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.52	+0.158%	$100K	$691K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.37	+0.026%	—	$362.9M	—	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.27	−0.056%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.25	−0.076%	$13.0M	$59.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.26	−0.062%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.23	−0.095%	$343K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.30	−0.032%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.28	−0.047%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.34	+0.003%	$5.8M	$39.5M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.35	+0.011%	$176.1M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.32	−0.013%	$14.5M	$127.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.35	+0.011%	$965.9M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.38	+0.037%	$819.5M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.36	+0.020%	$365.3M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.38	+0.037%	$238K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.32	−0.018%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	+0.096%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.38	+0.037%	$857.2M	$647.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.37	+0.028%	$423.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.39	+0.042%	$129.9M	$212.5M	75x	as long as short
Bitget SOLUSDTlong	+0.0100%	8h	117.34	long leg	$486.4M	$433.6M	100x
Backpack SOL_USDC_PERP	+0.0100%	1h	117.29	−0.040%	$23.6M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.24	−0.081%	$24.3M	$117.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.40	+0.054%	$94.3M	$398.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.46	+0.105%	$48.1M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.39	+0.042%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.52	+0.156%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.29	−0.040%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.28	−0.050%	$200K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.25	−0.077%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.28	−0.049%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.24	−0.083%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.28	−0.049%	$45.6M	$100.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.34	0.000%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.50	+0.135%	—	$220.8M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.38	+0.037%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.39	+0.041%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0162%	1h	117.41	+0.062%	$717.2M	$393.4M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.27	−0.056%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	+0.037%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.24	−0.083%	$51.8M	$70.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.28	−0.047%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0381%	1h	117.41	+0.063%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.33	−0.006%	$127K	$3.8M	8.3x	as long as short