Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0205%/8h= −22.4% APRpaid last 24h −0.079%

Price spread now: dYdX against BloFin−0.019%92s7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.280% of the position

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.335%−$33 on $10k

Price spread, last 4 days (all we have)+0.180%+$18 · spread now −0.019%, 7d avg +0.020%

Together, before fees−0.155%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and dYdX is 0.039% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.020%). Swap the legs. The two prices were read 92 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	116.59	0.0220	pay 0.0220% / 8h	3h 25m	$51.9M	$67.2M	125x
Short	dYdX SOL-USD	116.57	0.0015	get 0.0002% / 1h	25m 28s	$4.4M	$24.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$43.01
Price spread: −0.019% → +0.020%: −$3.93
Slippage, 4 orders: −$5.98
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$74.92
Costs to cover: 0.280%
Break-even: never at this rate

Slippage from BloFin: live order book, 9 min ago; dYdX: live order book, 4 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, 9 min ago	0.43 bp	6.4 bp −$6	6.4 bp −$64	8.0 bp −$804	16.5 bp −$8,274
Sell dYdX live order book, 4 min ago	0.86 bp	7.6 bp −$8	14.9 bp −$149	26.4 bp −$2,644	32.6 bp −$16.3K

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	−0.0193%	1h	116.54	−0.043%	$31.0M	$101.1M	100x	as long as short
Hibachi SOL/USDT-P	−0.0184%	1h	116.57	−0.019%	$105K	$703K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.46	−0.109%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.53	−0.049%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0010%	8h	116.38	−0.180%	$755.9M	$1.38B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	−0.096%	$42K	—	150x	as long as short
dYdX SOL-USDshort	+0.0015%	1h	116.57	−0.019%	$4.4M	$24.2M	20x
Derive SOL-PERP	+0.0032%	1h	116.47	−0.099%	$1.9M	$2.9M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.54	−0.041%	$7.6M	$404.7M	50x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.49	−0.086%	$99K	$174K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0081%	1h	116.46	−0.109%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.54	−0.045%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.56	−0.026%	$13.1M	$60.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.53	−0.051%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.54	−0.045%	$350K	$247K	20x	as long as short
Bitget SOLUSDT	+0.0099%	8h	116.47	−0.106%	$480.8M	$445.0M	100x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.47	−0.103%	$61K	$895K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.56	−0.024%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.54	−0.042%	$5.4M	$40.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.61	+0.017%	$703.9M	$394.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.44	−0.129%	$174.4M	$183.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.58	−0.006%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.46	−0.112%	$971.6M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.50	−0.077%	$366.6M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.47	−0.103%	$229K	$836K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.55	−0.037%	$920K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.75	+0.137%	$133.5M	$19.9M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.54	−0.043%	$851.7M	$663.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.49	−0.086%	$366.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.48	−0.097%	$128.9M	$223.3M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.46	−0.115%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.54	−0.043%	$23.0M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.40	−0.160%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.61	+0.020%	$93.6M	$400.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.68	+0.077%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.64	+0.043%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.58	−0.009%	$1.3M	$12.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.48	−0.094%	$320K	$2.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.55	−0.039%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.52	−0.059%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.53	−0.051%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.50	−0.077%	$225.8M	$48.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.56	−0.026%	$45.6M	$103.2M	50x	as long as short
Kalshi KXSOLPERP	+0.0102%	8h	116.60	+0.007%	$1.4M	$19.0M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	116.48	−0.098%	$8.3M	$37.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.094%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.56	−0.023%	—	$231.6M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.64	+0.043%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.46	−0.112%	$1.1M	$542K	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0204%	1h	116.60	+0.007%	$26.3M	$23.3M	50x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	116.59	long leg	$51.9M	$67.2M	125x
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.54	−0.047%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.55	−0.031%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0547%	1h	116.71	+0.100%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.57	−0.016%	$1.9M	$4.8M	20x	as long as short