Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.022%

Price spread now: KuCoin against Deribit+0.014%7-day average −0.012% · 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−$24as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now +0.014%, 7d avg −0.012%

Together, before fees+0.088%+$9 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 KuCoin is 0.026% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	117.65	0.0035	pay 0.0004% / 1h	42m 14s	$26.4M	$25.4M	50x
Short	KuCoin SOLUSDTM	117.66	0.0100	get 0.0100% / 8h	6h 42m	$133.4M	$208.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $13.69
Price spread: +0.014% → −0.012%: $2.6
Slippage, 4 orders: −$7.15
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.86
Costs to cover: 0.261%
Break-even: 12.0 days

Slippage from Deribit: live order book, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	1.44 bp	5.3 bp −$5	5.9 bp −$59	41.2 bp −$4,116	doesn't fit
Sell KuCoin live order book, 2 min ago	0.63 bp	8.3 bp −$8	11.0 bp −$110	16.0 bp −$1,602	29.3 bp −$14.7K

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
ApeX Omni SOLUSDT	−0.0171%	1h	118.09	+0.376%	$1.5M	$6.1M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.65	+0.001%	$920	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0080%	1h	117.98	+0.286%	$92K	$707K	20x	as long as short
Vest SOL-PERP	−0.0077%	1h	117.64	−0.007%	—	$610K	20x	as long as short
HTX SOL-USDT	−0.0038%	8h	117.51	−0.115%	$228.5M	$45.1M	75x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.53	−0.103%	$2.0M	$2.7M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.63	−0.015%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.68	+0.029%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.67	+0.020%	$1.5M	$21.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.65	−0.001%	$128K	$4.0M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SOL_USDT	+0.0002%	8h	117.63	−0.015%	$850.3M	$654.4M	100x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.62	−0.025%	$2.0M	$4.7M	20x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0035%	1h	117.65	long leg	$26.4M	$25.4M	50x
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.61	−0.036%	$31.5M	$98.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.62	−0.027%	$7.9M	$411.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.65	+0.001%	—	$370.1M	—	as long as short
Orderly PERP_SOL_USDC	+0.0084%	8h	117.61	−0.035%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0088%	1h	117.67	+0.019%	$102K	$162K	20x	as long as short
Lighter SOL	+0.0096%	1h	117.61	−0.036%	$13.0M	$59.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.61	−0.032%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.60	−0.040%	$345K	$264K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.64	−0.005%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.60	−0.040%	$54K	$835K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.63	−0.019%	$5.7M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.74	+0.079%	$717.4M	$403.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.62	−0.027%	$176.6M	$180.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.66	+0.009%	$14.0M	$130.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.60	−0.040%	$975.7M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.65	+0.004%	$821.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.66	+0.011%	$368.6M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.64	−0.006%	$239K	$893K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.66	+0.012%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.64	−0.006%	$421.5M	$1.10B	300x	as long as short
KuCoin SOLUSDTMshort	+0.0100%	8h	117.66	+0.014%	$133.4M	$208.3M	75x
Bitget SOLUSDT	+0.0100%	8h	117.65	+0.005%	$488.4M	$444.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.64	−0.006%	$23.7M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.01	+0.305%	$24.4M	$129.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.06	+0.352%	$94.8M	$404.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.90	+0.213%	$48.3M	$29.5M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.97	+0.274%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.63	−0.015%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.61	−0.032%	$199K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.58	−0.058%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.60	−0.042%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.60	−0.040%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.62	−0.023%	$45.8M	$101.7M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.07	+0.359%	$135.9M	$13.3M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.96	+0.266%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.57	−0.069%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.66	+0.007%	—	$228.4M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.63	−0.016%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.04	+0.334%	$52.1M	$74.3M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	118.20	+0.470%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0168%	1h	117.62	−0.027%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0309%	1h	117.95	+0.260%	$25K	$51K	20x	as long as short