Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h +0.020%

Price spread now: Binance against Deribit−0.125%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 3 days (all we have)+0.219%+$22 · spread now −0.125%, 7d avg −0.017%

Together, before fees+0.287%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.107% cheaper against Deribit than usual: you would sell low and buy high (spread −0.125% now, against its 7-day average of −0.017%). If the spread goes back, that is −$11 on $10k: about 14 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	118.98	0.0074	pay 0.0009% / 1h	59m 41s	$26.6M	$25.7M	50x
Short	Binance SOLUSDT	118.84	0.0100	get 0.0100% / 8h	7h 59m	$980.4M	$3.82B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.125%Rate

Funding earned: $5.53
Price spread: −0.125% → −0.017%: −$10.74
Slippage, 4 orders: −$3.99
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$26.2
Costs to cover: 0.210%
Break-even: 40.2 days

Slippage from Deribit: live order book, 4 min ago; Binance: live order book, 14 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 Deribit live order book, 4 min ago	0.17 bp	5.0 bp −$5	5.6 bp −$56	18.3 bp −$1,831	doesn't fit
Sell Binance live order book, 14 min ago	0.42 bp	5.4 bp −$5	5.9 bp −$59	9.0 bp −$901	18.2 bp −$9,105

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	−0.0100%	1h	118.86	−0.108%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.89	−0.077%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	118.86	−0.105%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0023%	1h	118.93	−0.042%	$4.9M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.95	−0.028%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.93	−0.041%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.95	−0.027%	$175K	$3.9M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0020%	1h	118.73	−0.210%	$1.5M	$6.1M	50x	as long as short
Gate SOL_USDT	+0.0066%	8h	118.90	−0.070%	$861.6M	$690.5M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.92	−0.054%	$103K	$158K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUALlong	+0.0074%	1h	118.98	long leg	$26.6M	$25.7M	50x
Orderly PERP_SOL_USDC	+0.0078%	8h	118.94	−0.033%	$1.0M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.84	−0.123%	—	$10.6M	—	as long as short
HTX SOL-USDT	+0.0080%	8h	118.88	−0.090%	$231.4M	$45.0M	75x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.86	−0.108%	$122K	$642K	20x	as long as short
Lighter SOL	+0.0096%	1h	118.85	−0.109%	$13.4M	$54.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.83	−0.131%	$2.1M	$16.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.95	−0.029%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.96	−0.020%	$8.2M	$417.2M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.85	−0.116%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.87	−0.096%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.91	−0.061%	$5.9M	$41.0M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.88	−0.090%	$178.6M	$177.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.89	−0.079%	$12.2M	$122.9M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	118.84	−0.125%	$980.4M	$3.82B	100x
Bybit SOLUSDT	+0.0100%	8h	118.85	−0.114%	$822.8M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.82	−0.138%	$371.3M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.82	−0.138%	$231K	$883K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.90	−0.073%	$1.9M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.65	−0.283%	$133.6M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.87	−0.096%	$429.5M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.88	−0.085%	$138.1M	$207.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.84	−0.121%	$492.9M	$458.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.94	−0.037%	$24.2M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.79	−0.164%	$27.0M	$128.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.73	−0.210%	$95.4M	$403.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.57	−0.350%	$48.6M	$30.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.81	−0.146%	$1.4M	$13.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.94	−0.037%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.93	−0.042%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.75	−1.033%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.87	−0.099%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.93	−0.045%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.91	−0.062%	$46.5M	$102.4M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.85	−0.112%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.89	−0.077%	$8.7M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.92	−0.053%	$32.6M	$97.1M	100x	as long as short
Aftermath Perps SOLUSD	+0.0117%	1h	118.75	−0.193%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.92	−0.051%	—	$225.7M	500x	as long as short
Hyperliquid SOL	+0.0121%	1h	118.98	−0.003%	$720.2M	$408.4M	20x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.87	−0.093%	$1.8M	$4.8M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0166% / S −0.0070%	1h	118.94	−0.034%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.66	−0.272%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0185%	1h	118.93	−0.048%	$1.1M	$539K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.93	−0.045%	$51.9M	$80.3M	125x	as long as short