Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Bybit−0.136%7-day average +0.005% · 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−$41as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Bybit Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.133%+$13 · spread now −0.136%, 7d avg +0.005%

Together, before fees+0.134%+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.141% cheaper against Bybit than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	118.16	0.0100	pay 0.0100% / 8h	6h 26m	$823.7M	$1.28B	100x
Short	Bulk SOL-USD	118.00	0.0100	get 0.0013% / 1h	26m 20s	$135.1M	$14.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Bybit. 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 BybitbpFee BulkbpOrdersPrice spread, now −0.136%Rate

Funding earned: $0
Price spread: −0.136% → +0.005%: −$14.11
Slippage, 4 orders: −$9.34
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$41.45
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Bulk: 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 Bybit live order book, 3 min ago	0.42 bp	5.9 bp −$6	5.9 bp −$59	10.8 bp −$1,076	21.8 bp −$10.9K
Sell Bulk live order book, 3 min ago	4.25 bp	7.7 bp −$8	7.7 bp −$77	7.7 bp −$775	7.7 bp −$3,873

SOL on 54 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	117.98	−0.154%	$923	$8K	25x	as long as short
Vest SOL-PERP	−0.0069%	1h	118.01	−0.129%	—	$607K	20x	as long as short
Derive SOL-PERP	−0.0049%	1h	118.06	−0.081%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	117.98	−0.155%	$92K	$682K	20x	as long as short
ApeX Omni SOLUSDT	−0.0003%	1h	117.89	−0.224%	$1.5M	$6.0M	50x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.13	−0.026%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.96	−0.169%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.06	−0.082%	$1.4M	$21.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.12	−0.030%	$129K	$3.9M	8.3x	as long as short
RISEx SOL/USDC	+0.0018%	1h	118.08	−0.064%	$2.0M	$4.7M	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0038%	8h	117.94	−0.184%	$229.2M	$45.5M	75x	as long as short
Gate SOL_USDT	+0.0042%	8h	118.12	−0.034%	$856.1M	$661.4M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.94	−0.188%	$31.6M	$98.8M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0070%	1h	118.02	−0.123%	$26.5M	$25.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.97	−0.157%	$8.0M	$410.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.14	−0.014%	—	$369.5M	—	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	118.16	−0.003%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.01	−0.127%	$13.1M	$59.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.96	−0.166%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	118.13	−0.025%	$103K	$160K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.15	−0.010%	$346K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.11	−0.047%	$1.0M	$519K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.04	−0.102%	$63K	$853K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.01	−0.123%	$5.7M	$41.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.10	−0.048%	$177.3M	$180.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.06	−0.086%	$14.4M	$128.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.13	−0.025%	$973.6M	$3.80B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	118.16	long leg	$823.7M	$1.28B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	118.14	−0.017%	$366.9M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.01	−0.127%	$239K	$894K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.09	−0.055%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USDshort	+0.0100%	1h	118.00	−0.136%	$135.1M	$14.3M	20x
MEXC SOL_USDT	+0.0100%	8h	118.12	−0.034%	$425.0M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.11	−0.041%	$131.8M	$210.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.15	−0.006%	$489.3M	$440.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.96	−0.169%	$23.8M	$37.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.14	−0.021%	$24.5M	$122.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.87	−0.242%	$94.7M	$403.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.78	−0.318%	$48.2M	$29.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.02	−0.118%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.12	−0.034%	$355K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.12	−0.032%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.11	−0.042%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.01	−0.130%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.96	−0.169%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.97	−0.161%	$46.0M	$101.6M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.98	−0.152%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.05	−0.089%	$8.2M	$36.0M	50x	as long as short
Hyperliquid SOL	+0.0110%	1h	118.23	+0.059%	$722.5M	$402.7M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	118.05	−0.089%	—	$226.3M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	118.10	−0.048%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	−0.245%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	118.12	−0.032%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0323%	1h	117.90	−0.223%	$25K	$51K	20x	as long as short