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Funding arb · Price arb /

SOL

all SOL markets
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Alert: funding
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.019%
Price spread now: Phoenix against Bybit+0.034%85s7-day average +0.125% · you sell dearer than you buy
Net, funding: paid 7d − costs+$13as 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−$220.218% of the position
Long on BybitShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.347%+$35 on $10k
Price spread, last 7 days+0.114%+$11 · spread now +0.034%, 7d avg +0.125%
Together, before fees+0.462%+$46 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.091% cheaper against Bybit than usual: you would sell low and buy high (spread +0.034% now, against its 7-day average of +0.125%). If the spread goes back, that is −$9 on $10k: about 2.6 days of funding at the current rate (+$4 a day). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit SOLUSDT116.310.0012pay 0.0012% / 8h7h 54m$731.5M$1.41B100x
ShortPhoenix SOL116.350.0130get 0.0016% / 1h54m 05s$6.5M$13.4M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$24.76
Price spread: +0.034% → +0.125%
−$9.09
Slippage, 4 orders
−$3.75
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$6.08
Costs to cover
0.218%
Break-even
8.7 days
Slippage from Bybit: live order book, 5 min ago; Phoenix: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 5 min ago0.43 bp6.6 bp −$77.2 bp −$7211.0 bp −$1,10021.3 bp −$10.7K
Sell Phoenix live order book, 5 min ago0.86 bp4.6 bp −$55.7 bp −$5710.8 bp −$1,081doesn't fit

SOL on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phemex SOLUSDT−0.0206%8h116.32+0.009%$45.2M$103.8M50xas long as short
Hotstuff SOL-PERP−0.0080%1h116.37+0.052%$1K$8K25xas long as short
Kraken Futures PF_SOLUSD−0.0057%1h116.32+0.006%$32.2M$106.8M100xas long as short
Vest SOL-PERP−0.0016%1h116.310.000%—$636K20xas long as short
gTrade (Gains Network) SOL/USDL −0.0001% / S +0.0004%1h116.31−0.002%$42K—150xas long as short
dYdX SOL-USD0.0000%1h116.38+0.059%$4.3M$23.4M20xas long as short
Kalshi KXSOLPERP0.0000%8h116.36+0.040%$1.4M$19.4M3.1xas long as short
Perpl SOL0.0000%43m116.38+0.059%$99K$3.4M8.3xas long as short
Derive SOL-PERP+0.0007%1h116.38+0.061%$1.9M$3.0M13xas long as short
Bybit SOLUSDTlong+0.0012%8h116.31long leg$731.5M$1.41B100x
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget SOLUSDT+0.0025%8h116.34+0.023%$480.0M$455.1M100xas long as short
Coinbase International SOL-PERP-INTX+0.0040%1h116.32+0.005%$7.8M$396.1M50xas long as short
Hibachi SOL/USDT-P+0.0048%1h116.22−0.077%$103K$679K20xas long as short
Aster SOLUSDT+0.0053%8h116.32+0.011%$176.8M$169.2M100xas long as short
Lighter RH SOL+0.0064%1h116.28−0.027%$2.1M$14.6M25xas long as short
Deribit SOL_USDC-PERPETUAL+0.0067%1h116.35+0.037%$26.2M$21.9M50xas long as short
Orderly PERP_SOL_USDC+0.0069%8h116.30−0.005%$1.0M$6.0M100xas long as short
Lighter SOL+0.0096%1h116.30−0.012%$13.1M$55.7M25xas long as short
Aevo SOL-PERP+0.0096%1h116.28−0.028%$351K$256K20xas long as short
Paradex SOL-USD-PERP+0.0097%8h116.32+0.011%$1.0M$554K50xas long as short
Katana Perps SOL-USD+0.0100%8h116.32+0.009%$64K$903K20xas long as short
Nado SOL-PERP+0.0100%1h116.33+0.018%$5.4M$41.6M40xas long as short
Hyperliquid SOL+0.0100%1h116.41+0.086%$695.3M$406.3M20xas long as short
Pacifica SOL+0.0100%1h116.37+0.055%$15.7M$130.3M20xas long as short
Binance SOLUSDT+0.0100%8h116.32+0.009%$962.3M$3.85B100xas long as short
OKX SOL-USDT-SWAP+0.0100%8h116.33+0.017%$366.3M$1.76B100xas long as short
Ondo Perps SOL-USD.P+0.0100%1h116.07−0.206%$219K$849K10xas long as short
Arcus SOL-USD+0.0100%1h116.33+0.021%$919K$8.5M20xas long as short
Bulk SOL-USD+0.0100%1h116.33+0.015%$125.6M$25.5M20xas long as short
Gate SOL_USDT+0.0100%8h116.30−0.009%$847.6M$605.7M100xas long as short
MEXC SOL_USDT+0.0100%8h116.29−0.017%$369.3M$1.05B300xas long as short
KuCoin SOLUSDTM+0.0100%8h116.29−0.014%$129.6M$237.3M75xas long as short
BingX SOL-USDT+0.0100%8h116.29−0.018%—$374.5M—as long as short
Backpack SOL_USDC_PERP+0.0100%1h116.28−0.026%$22.8M$36.2M50xas long as short
Variational Omni SOL+0.0100%8h116.26−0.047%$24.8M$105.8M—as long as short
edgeX SOLUSDC+0.0100%4h116.34+0.025%$93.4M$404.5M75xas long as short
GRVT SOL_USDT_Perp+0.0100%8h116.27−0.036%$47.6M$29.1M20xas long as short
ApeX Omni SOLUSDT+0.0100%1h116.27−0.032%$1.2M$6.7M50xas long as short
StandX SOL-USD+0.0100%1h116.35+0.034%$1.3M$11.0M30xas long as short
Polymarket Perps SOL-USD+0.0100%1h116.38+0.060%$318K$2.8M20xas long as short
Bullet SOL-USD+0.0100%1h116.35+0.038%$282K$1.7M20xas long as short
Bluefin SOL-PERP+0.0100%1h116.31−0.004%$27K$36K25xas long as short
SunX SOL-USDT+0.0100%8h116.32+0.009%$189K$1.7M30xas long as short
SoDEX SOL-USD+0.0100%1h116.29−0.017%$6.1M$11.0M20xas long as short
HTX SOL-USDT+0.0100%8h116.30−0.009%$225.2M$50.6M75xas long as short
Extended SOL-USD+0.0104%1h116.29−0.021%$8.2M$36.7M50xas long as short
Jupiter Perps SOL-PERPL +0.0120% / S +0.0056%1h116.27−0.032%—$231.7M500xas long as short
01 Exchange SOLUSD+0.0128%1h116.41+0.086%$100K$181K20xas long as short
Phoenix SOLshort+0.0130%1h116.35+0.034%$6.5M$13.4M25x
Injective SOL/USDC PERP+0.0179%1h116.34+0.026%$4K$12412xas long as short
Reya SOLRUSDPERP+0.0196%1h116.31+0.004%$1.1M$545K25xas long as short
BloFin SOL-USDT+0.0220%8h116.16−0.129%$52.4M$64.3M125xas long as short
GMX SOL/USD [SOL-USDC]L +0.0231% / S −0.0169%1h116.33+0.015%$3.5M—200xas long as short
Aftermath Perps SOLUSD+0.0420%1h116.34+0.022%$25K$57K20xas long as short
RISEx SOL/USDC+0.0480%1h116.40+0.079%$2.1M$4.7M20xas long as short