Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.002%

Price spread now: Bybit against Coinbase International+0.154%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$7as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now +0.154%, 7d avg −0.015%

Together, before fees−0.176%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Bybit is 0.169% dearer against Coinbase International than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SOL-PERP-INTX	119.20	0.0088	pay 0.0011% / 1h	10m 49s	$8.1M	$409.9M	50x
Short	Bybit SOLUSDT	119.38	0.0100	get 0.0100% / 8h	7h 10m	$829.3M	$1.25B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.154%Rate

Funding earned: $2.52
Price spread: +0.154% → −0.015%: $16.9
Slippage, 4 orders: −$2.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$4.49
Costs to cover: 0.239%
Break-even: 19.5 days

Slippage from Coinbase International: live order book, 3 min ago; Bybit: 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 Coinbase International live order book, 3 min ago	0.04 bp	6.5 bp −$6	9.4 bp −$94	17.4 bp −$1,744	doesn't fit
Sell Bybit live order book, 3 min ago	0.42 bp	5.9 bp −$6	6.4 bp −$64	10.9 bp −$1,088	19.6 bp −$9,825

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-PERP	−0.0082%	1h	119.08	−0.097%	$2.0M	$2.7M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.19	−0.008%	$932	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	119.17	−0.022%	—	$608K	20x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	119.30	+0.084%	$109K	$670K	20x	as long as short
HTX SOL-USDT	−0.0026%	8h	119.14	−0.048%	$231.8M	$44.2M	75x	as long as short
dYdX SOL-USD	−0.0019%	1h	119.23	+0.028%	$4.9M	$25.8M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.16	−0.032%	$32.4M	$97.1M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.19	−0.010%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.20	+0.006%	$1.2M	$20.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.25	+0.043%	$125K	$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	+0.0032%	1h	119.23	+0.028%	$104K	$160K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0055%	1h	119.21	+0.010%	$26.7M	$24.8M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.37	+0.143%	—	$367.2M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.19	−0.010%	$1.0M	$5.9M	100x	as long as short
Bluefin SOL-PERP	+0.0085%	1h	119.18	−0.018%	$37K	$17K	25x	as long as short
Coinbase International SOL-PERP-INTXlong	+0.0088%	1h	119.20	long leg	$8.1M	$409.9M	50x
Gate SOL_USDT	+0.0091%	8h	119.28	+0.070%	$856.8M	$672.4M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.16	−0.030%	$14.0M	$56.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.15	−0.042%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.15	−0.040%	$349K	$253K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.25	+0.046%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.19	−0.006%	$46K	$799K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.17	−0.023%	$6.1M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.45	+0.212%	$731.6M	$399.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.21	+0.010%	$180.2M	$176.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.26	+0.053%	$12.3M	$125.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.36	+0.137%	$982.8M	$3.73B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	119.38	+0.154%	$829.3M	$1.25B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	119.33	+0.112%	$373.0M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.09	−0.090%	$234K	$833K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.20	+0.001%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.368%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.33	+0.112%	$434.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.33	+0.114%	$139.2M	$203.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.34	+0.121%	$495.3M	$438.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.16	−0.031%	$24.0M	$36.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.19	−0.010%	$24.9M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.20	+0.003%	$95.7M	$404.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	−0.053%	$48.8M	$29.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.26	+0.053%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.18	−0.014%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.22	+0.019%	$361K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.17	−0.020%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.20	+0.005%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.16	−0.031%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.18	−0.014%	$46.7M	$99.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.27	+0.065%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.28	+0.070%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.25	+0.043%	—	$226.5M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.18	−0.015%	$1.8M	$4.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.157%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	119.20	+0.001%	$1.1M	$524K	25x	as long as short
Aftermath Perps SOLUSD	+0.0219%	1h	119.22	+0.018%	$25K	$51K	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.15	−0.039%	$51.9M	$74.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	119.18	−0.015%	$3.7M	—	200x	as long as short