Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.037%

Price spread now: Bullet against BloFin−0.055%168s7-day average −0.002% · 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—prices read too far apart to compare

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

Long on BloFin Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.127%−$13 on $10k

Price spread, last 3 days (all we have)+0.153%+$15 · spread now −0.055%, 7d avg −0.002%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bullet is 0.053% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.002%). Swap the legs. The two prices were read 168 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SOL-USDT	118.04	0.0220	pay 0.0220% / 8h	6h 46m	$52.1M	$74.3M	125x
Short	Bullet SOL-USD	117.97	0.0100	get 0.0013% / 1h	46m 22s	$201K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against BloFin. 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 BloFinbpFee BulletbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$25.2
Price spread: −0.055% → −0.002%: −$5.28
Slippage, 4 orders: −$4.89
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$55.37
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Bullet: 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 BloFin live order book, 3 min ago	0.42 bp	6.4 bp −$6	6.6 bp −$66	8.6 bp −$862	13.9 bp −$6,935
Sell Bullet live order book, 3 min ago	0.04 bp	6.1 bp −$6	8.8 bp −$88	doesn't fit	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
ApeX Omni SOLUSDT	−0.0218%	1h	118.08	+0.034%	$1.5M	$6.1M	50x	as long as short
Hibachi SOL/USDT-P	−0.0088%	1h	118.10	+0.052%	$92K	$706K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.11	+0.060%	$924	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	117.95	−0.077%	—	$610K	20x	as long as short
HTX SOL-USDT	−0.0036%	8h	117.97	−0.058%	$229.4M	$45.0M	75x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.91	−0.114%	$2.0M	$2.7M	13x	as long as short
Gate SOL_USDT	−0.0012%	8h	117.97	−0.059%	$852.9M	$653.2M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.98	−0.051%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.01	−0.025%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.12	+0.066%	$1.5M	$21.4M	3.1x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl SOL	0.0000%	43m	118.00	−0.032%	$131K	$3.9M	8.3x	as long as short
RISEx SOL/USDC	+0.0018%	1h	118.02	−0.019%	$1.8M	$4.6M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0038%	1h	118.02	−0.015%	$26.4M	$25.4M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.95	−0.079%	$31.6M	$98.8M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.99	−0.041%	$8.0M	$411.8M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.98	−0.050%	—	$370.1M	—	as long as short
Orderly PERP_SOL_USDC	+0.0084%	8h	118.00	−0.034%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0088%	1h	117.99	−0.042%	$102K	$162K	20x	as long as short
Lighter SOL	+0.0096%	1h	118.05	+0.004%	$13.5M	$58.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.05	+0.009%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.99	−0.040%	$346K	$264K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.07	+0.024%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.96	−0.068%	$43K	$829K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.98	−0.051%	$5.7M	$41.6M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.01	−0.029%	$177.2M	$180.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.07	+0.024%	$14.1M	$130.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.96	−0.064%	$976.9M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.00	−0.034%	$824.1M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.98	−0.051%	$369.1M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.00	−0.034%	$239K	$897K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.04	−0.003%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.97	−0.059%	$423.2M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.99	−0.045%	$133.6M	$207.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.95	−0.074%	$489.6M	$446.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.03	−0.008%	$23.8M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.01	−0.028%	$24.4M	$129.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.07	+0.026%	$94.8M	$404.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.16	+0.100%	$48.4M	$29.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.10	+0.051%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.97	−0.059%	$358K	$2.3M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	117.97	−0.055%	$201K	$1.7M	20x
Bluefin SOL-PERP	+0.0100%	1h	117.98	−0.053%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.97	−0.062%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.96	−0.068%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.07	+0.025%	$46.0M	$101.5M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.07	+0.026%	$135.9M	$13.3M	20x	as long as short
Phoenix SOL	+0.0101%	1h	118.22	+0.152%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.94	−0.085%	$8.3M	$35.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	118.03	−0.008%	—	$228.4M	500x	as long as short
Hyperliquid SOL	+0.0118%	1h	118.08	+0.034%	$719.6M	$402.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	117.94	−0.082%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	118.04	long leg	$52.1M	$74.3M	125x
Injective SOL/USDC PERP	+0.0222%	1h	118.20	+0.136%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	117.97	−0.058%	$3.7M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0307%	1h	118.06	+0.013%	$25K	$51K	20x	as long as short