Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0302%/8h= −33.1% APRpaid last 24h −0.075%

Price spread now: Derive against BloFin−0.191%55s7-day average −0.034% · you buy dearer than you sell

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

Long on BloFin Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 3 days (all we have)+0.224%+$22 · spread now −0.191%, 7d avg −0.034%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Derive is 0.158% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.034%). Swap the legs. The two prices were read 55 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	119.15	0.0220	pay 0.0220% / 8h	7h 06m	$52.0M	$74.2M	125x
Short	Derive SOL-PERP	118.92	−0.0082	pay 0.0010% / 1h	6m 03s	$2.0M	$2.7M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.191%Rate

Funding earned: −$63.5
Price spread: −0.191% → −0.034%: −$15.76
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Derive: 3 bp × 2 orders: −$6
Net: −$97.27
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 min ago; Derive: 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 BloFin live order book, 3 min ago	0.42 bp	6.4 bp −$6	6.6 bp −$66	8.5 bp −$850	16.1 bp −$8,049
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Derive SOL-PERPshort	−0.0082%	1h	118.92	−0.191%	$2.0M	$2.7M	13x
Hotstuff SOL-PERP	−0.0080%	1h	119.10	−0.039%	$931	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	118.98	−0.143%	—	$608K	20x	as long as short
Hibachi SOL/USDT-P	−0.0048%	1h	119.17	+0.020%	$109K	$671K	20x	as long as short
HTX SOL-USDT	−0.0047%	8h	118.94	−0.176%	$231.4M	$43.8M	75x	as long as short
dYdX SOL-USD	−0.0017%	1h	119.04	−0.094%	$4.9M	$25.5M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.06	−0.077%	$32.3M	$97.0M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.02	−0.109%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.11	−0.030%	$1.2M	$20.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.99	−0.138%	$124K	$3.9M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0040%	1h	118.99	−0.134%	$103K	$161K	20x	as long as short
Gate SOL_USDT	+0.0041%	8h	119.00	−0.126%	$854.2M	$674.0M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0062%	1h	119.09	−0.046%	$26.7M	$24.8M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.06	−0.079%	—	$366.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.01	−0.121%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.09	−0.052%	$8.1M	$409.7M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.06	−0.078%	$13.6M	$57.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.03	−0.100%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.02	−0.106%	$349K	$253K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.97	−0.147%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.98	−0.143%	$46K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.03	−0.100%	$6.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.15	0.000%	$729.4M	$394.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.01	−0.116%	$179.9M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.05	−0.083%	$12.2M	$125.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.00	−0.130%	$980.6M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.03	−0.098%	$827.4M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.98	−0.143%	$372.0M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.98	−0.143%	$233K	$829K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.99	−0.133%	$2.0M	$8.8M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.09	−0.050%	$434.3M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.07	−0.067%	$138.6M	$203.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.98	−0.146%	$493.9M	$438.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.04	−0.092%	$24.0M	$36.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.00	−0.123%	$24.9M	$130.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.35	+0.167%	$95.9M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.35	+0.169%	$48.9M	$29.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.38	+0.191%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.13	−0.017%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.98	−0.143%	$361K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.00	−0.124%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.00	−0.129%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.98	−0.145%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.04	−0.092%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.08	−0.059%	$46.6M	$99.5M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.24	+0.071%	$137.6M	$12.7M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	118.96	−0.157%	$8.6M	$34.8M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.28	+0.109%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.17	+0.018%	—	$225.0M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.98	−0.147%	$1.8M	$4.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.50	+0.294%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	118.95	−0.167%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	119.15	long leg	$52.0M	$74.2M	125x
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	119.01	−0.114%	$3.7M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0235%	1h	119.20	+0.044%	$25K	$51K	20x	as long as short