Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.022%

Price spread now: Bitget against Deribit+0.032%48s7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as 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−$260.256% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 4 days (all we have)+0.300%+$30 · spread now +0.032%, 7d avg −0.029%

Together, before fees+0.335%+$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bitget is 0.061% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.029%. The two prices were read 48 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	Deribit SOL_USDC-PERPETUAL	117.29	0.0034	pay 0.0004% / 1h	40m 32s	$26.3M	$25.2M	50x
Short	Bitget SOLUSDT	117.33	0.0100	get 0.0100% / 8h	5h 40m	$486.4M	$433.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.032%Rate

Funding earned: $13.86
Price spread: +0.032% → −0.029%: $6.06
Slippage, 4 orders: −$6.58
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$5.65
Costs to cover: 0.256%
Break-even: 9.9 days

Slippage from Deribit: live order book, 4 min ago; Bitget: live order book, 4 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	1.62 bp	5.8 bp −$6	6.2 bp −$62	20.9 bp −$2,093	doesn't fit
Sell Bitget live order book, 4 min ago	0.04 bp	6.1 bp −$6	8.8 bp −$88	13.0 bp −$1,303	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
Hotstuff SOL-PERP	−0.0080%	1h	117.39	+0.085%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0059%	1h	117.30	+0.008%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.24	−0.042%	$31.6M	$98.4M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.19	−0.084%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.28	−0.007%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.38	+0.079%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.33	+0.038%	$1.4M	$19.4M	3.1x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0034%	1h	117.29	long leg	$26.3M	$25.2M	50x
01 Exchange SOLUSD	+0.0056%	1h	117.40	+0.096%	$100K	$163K	20x	as long as short
HTX SOL-USDT	+0.0056%	8h	117.26	−0.023%	$227.8M	$45.6M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.30	+0.014%	$8.0M	$402.6M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.52	+0.201%	$100K	$691K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.35	+0.051%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.27	−0.014%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.35	+0.053%	$13.0M	$59.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.34	+0.041%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.23	−0.053%	$343K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.33	+0.036%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.39	+0.091%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.38	+0.076%	$5.8M	$39.5M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.36	+0.062%	$176.1M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.38	+0.076%	$14.5M	$127.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.40	+0.096%	$966.3M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.41	+0.104%	$819.7M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.35	+0.053%	$365.3M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.38	+0.079%	$238K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.37	+0.067%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	+0.139%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.35	+0.053%	$856.9M	$647.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.37	+0.070%	$423.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.37	+0.072%	$129.9M	$212.5M	75x	as long as short
Bitget SOLUSDTshort	+0.0100%	8h	117.33	+0.032%	$486.4M	$433.5M	100x
Backpack SOL_USDC_PERP	+0.0100%	1h	117.29	+0.002%	$23.6M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.24	−0.039%	$24.3M	$117.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.40	+0.096%	$94.3M	$398.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.46	+0.148%	$48.1M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.39	+0.084%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.52	+0.198%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.34	+0.045%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.28	−0.008%	$200K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.25	−0.035%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.28	−0.007%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.24	−0.040%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.28	−0.006%	$45.6M	$100.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.34	+0.046%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.50	+0.177%	—	$220.8M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.38	+0.079%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.44	+0.130%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0164%	1h	117.46	+0.147%	$717.5M	$393.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.32	+0.024%	$1.1M	$526K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	+0.079%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.24	−0.040%	$51.8M	$70.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.28	−0.005%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0381%	1h	117.41	+0.105%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.39	+0.087%	$127K	$3.8M	8.3x	as long as short