Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.004%

Price spread now: Phemex against Coinbase International−0.003%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 3 days (all we have)−0.028%−$3 · spread now −0.003%, 7d avg −0.013%

Together, before fees−0.080%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.052%, 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	117.71	0.0072	pay 0.0009% / 1h	20m 45s	$8.0M	$409.2M	50x
Short	Phemex SOLUSDT	117.71	0.0100	get 0.0100% / 8h	6h 20m	$45.9M	$101.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.003%Rate

Funding earned: $5.88
Price spread: −0.003% → −0.013%: $1.06
Slippage, 4 orders: −$3.24
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.3
Costs to cover: 0.252%
Break-even: 28.8 days

Slippage from Coinbase International: live order book, 3 min ago; Phemex: 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	5.1 bp −$5	7.9 bp −$79	15.6 bp −$1,557	doesn't fit
Sell Phemex live order book, 3 min ago	0.42 bp	7.7 bp −$8	8.8 bp −$88	16.6 bp −$1,662	doesn't fit

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	117.76	+0.043%	$921	$8K	25x	as long as short
Vest SOL-PERP	−0.0067%	1h	117.75	+0.030%	—	$607K	20x	as long as short
Derive SOL-PERP	−0.0027%	1h	117.66	−0.046%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-P	−0.0016%	1h	118.00	+0.242%	$101K	$691K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.75	+0.031%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.66	−0.048%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.84	+0.109%	$1.4M	$20.9M	3.1x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0012%	1h	117.75	+0.030%	$26.4M	$25.5M	50x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.61	−0.084%	$2.0M	$4.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0030%	1h	117.91	+0.168%	$1.5M	$6.0M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.72	+0.002%	$31.6M	$98.9M	100x	as long as short
HTX SOL-USDT	+0.0052%	8h	117.71	0.000%	$228.8M	$45.5M	75x	as long as short
Gate SOL_USDT	+0.0057%	8h	117.59	−0.104%	$851.3M	$663.2M	100x	as long as short
Coinbase International SOL-PERP-INTXlong	+0.0072%	1h	117.71	long leg	$8.0M	$409.2M	50x
BingX SOL-USDC	+0.0080%	8h	117.58	−0.114%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	117.74	+0.020%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.61	−0.083%	$13.1M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.60	−0.099%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.78	+0.057%	$103K	$159K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.73	+0.012%	$345K	$258K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.64	−0.065%	$1.0M	$519K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.56	−0.130%	$64K	$855K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.75	+0.036%	$5.7M	$41.5M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.61	−0.088%	$176.5M	$179.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.65	−0.054%	$14.4M	$128.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.60	−0.095%	$969.3M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.62	−0.078%	$820.1M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.60	−0.096%	$365.5M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	−0.088%	$239K	$891K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.61	−0.087%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.00	+0.243%	$135.1M	$14.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.59	−0.104%	$425.8M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.64	−0.060%	$131.3M	$210.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.57	−0.121%	$487.0M	$440.9M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.70	−0.011%	$23.8M	$37.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.74	+0.026%	$24.4M	$122.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.93	+0.187%	$94.7M	$404.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.96	+0.211%	$48.3M	$28.8M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.96	+0.210%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.76	+0.040%	$354K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.75	+0.036%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.73	+0.014%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.76	+0.037%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.72	+0.006%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.71	−0.003%	$45.9M	$101.4M	50x
Phoenix SOL	+0.0101%	1h	118.11	+0.337%	$6.5M	$13.5M	25x	as long as short
Hyperliquid SOL	+0.0104%	1h	117.74	+0.023%	$719.9M	$400.1M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	117.57	−0.122%	$8.1M	$36.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.74	+0.026%	—	$226.2M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.75	+0.032%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	+0.133%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.75	+0.030%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0336%	1h	117.91	+0.165%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.82	+0.093%	$129K	$3.9M	8.3x	as long as short