Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h −0.022%

Price spread now: Deribit against Bybit+0.217%45s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as 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−$220.217% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.035%−$4 on $10k

Price spread, last 4 days (all we have)−0.408%−$41 · spread now +0.217%, 7d avg +0.015%

Together, before fees−0.443%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Deribit is 0.202% dearer against Bybit than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.015%. The two prices were read 45 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	Bybit SOLUSDT	116.73	0.0100	pay 0.0100% / 8h	3h 54m	$774.7M	$1.36B	100x
Short	Deribit SOL_USDC-PERPETUAL	116.98	0.0142	get 0.0018% / 1h	54m 33s	$26.4M	$23.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.217%Rate

Funding earned: $8.75
Price spread: +0.217% → +0.015%: $20.17
Slippage, 4 orders: −$3.66
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $7.26
Costs to cover: 0.217%
Break-even: 1.2 days

Slippage from Bybit: live order book, 5 min ago; Deribit: live order book, 5 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, 5 min ago	0.43 bp	5.9 bp −$6	6.6 bp −$66	10.4 bp −$1,039	20.8 bp −$10.4K
Sell Deribit live order book, 5 min ago	0.04 bp	5.3 bp −$5	5.7 bp −$57	12.6 bp −$1,259	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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.96	+0.194%	$31.1M	$100.4M	100x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	116.92	+0.166%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0095%	1h	116.78	+0.041%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.95	+0.191%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.93	+0.171%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.74	+0.006%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0008%	1h	116.95	+0.188%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.87	+0.123%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.97	+0.203%	$7.4M	$405.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.95	+0.190%	$1.0M	$5.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SOL	+0.0096%	1h	116.97	+0.201%	$13.1M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.93	+0.171%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.87	+0.120%	$99K	$174K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.86	+0.108%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.86	+0.111%	$50K	$882K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.99	+0.220%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.80	+0.064%	$5.4M	$40.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.91	+0.154%	$705.9M	$393.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.90	+0.148%	$175.0M	$182.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.00	+0.230%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.89	+0.137%	$975.4M	$3.80B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	116.73	long leg	$774.7M	$1.36B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.80	+0.060%	$368.4M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.84	+0.094%	$231K	$837K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.94	+0.182%	$927K	$8.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.92	+0.163%	$847.0M	$655.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.80	+0.060%	$367.6M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.79	+0.051%	$129.2M	$222.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.76	+0.027%	$479.5M	$442.1M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.92	+0.166%	—	$365.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.96	+0.197%	$23.2M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.63	−0.082%	$24.5M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.68	−0.040%	$93.7M	$398.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.61	−0.103%	$47.7M	$30.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.73	+0.002%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.86	+0.111%	$1.3M	$12.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.80	+0.060%	$322K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.80	+0.057%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.91	+0.153%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.93	+0.168%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.95	+0.188%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.92	+0.160%	$226.7M	$47.8M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.94	+0.180%	$45.7M	$102.5M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.90	+0.145%	$134.0M	$22.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.87	+0.123%	$8.3M	$37.4M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	−0.009%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.75	+0.015%	—	$231.5M	500x	as long as short
Phoenix SOL	+0.0137%	1h	116.80	+0.060%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0142%	1h	116.98	+0.217%	$26.4M	$23.3M	50x
Reya SOLRUSDPERP	+0.0191%	1h	116.76	+0.024%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.94	+0.180%	$52.1M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.93	+0.168%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.83	+0.084%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0533%	1h	116.84	+0.091%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.98	+0.218%	$1.9M	$4.8M	20x	as long as short