SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0193%/8h= +21.2% APRnext payment +$0.24 per $10,000 · paid last 24h +0.057%

Price spread now: Phoenix against Derive−0.035%68s7-day average +0.123% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.308%+$31 on $10k

Price spread, last 4 days (all we have)+0.155%+$15 · spread now −0.035%, 7d avg +0.123%

Together, before fees+0.463%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.157% cheaper against Derive than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.123%). If the spread goes back, that is −$16 on $10k: about 2.7 days of funding at the current rate (+$6 a day). The two prices were read 68 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	Derive SOL-PERP	116.41	−0.0015	get 0.0002% / 1h	18m 01s	$1.9M	$2.9M	13x
Short	Phoenix SOL	116.37	0.0179	get 0.0022% / 1h	18m 01s	$6.5M	$13.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Derive. 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 DerivebpFee PhoenixbpOrdersPrice spread, now −0.035%Rate

Funding earned: $40.6
Price spread: −0.035% → +0.123%: −$15.71
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $11.89
Costs to cover: 0.130%
Break-even: 4.9 days

Slippage unknown: Derive: no order-book sample; Phoenix: live order book, 6 min ago. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 6 min ago	0.86 bp	4.6 bp −$5	5.8 bp −$58	12.9 bp −$1,294	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_SOLUSD	−0.0240%	1h	116.49	+0.066%	$31.9M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0136%	1h	116.29	−0.100%	$104K	$693K	20x	as long as short
BingX SOL-USDT	−0.0112%	8h	116.49	+0.070%	—	$369.1M	—	as long as short
Bybit SOLUSDT	−0.0107%	8h	116.45	+0.037%	$740.7M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.46	+0.045%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0056%	1h	116.44	+0.025%	—	$625K	20x	as long as short
Derive SOL-PERPlong	−0.0015%	1h	116.41	long leg	$1.9M	$2.9M	13x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	+0.064%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.50	+0.079%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.48	+0.062%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0009%	1h	116.42	+0.006%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.49	+0.069%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.49	+0.072%	$7.7M	$405.4M	50x	as long as short
Bitget SOLUSDT	+0.0064%	8h	116.52	+0.095%	$480.4M	$459.7M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	116.50	+0.075%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.47	+0.050%	$13.0M	$61.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.46	+0.040%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.48	+0.058%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.41	0.000%	$64K	$912K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.40	−0.007%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.46	+0.040%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.63	+0.189%	$696.7M	$406.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.49	+0.069%	$176.1M	$176.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.43	+0.016%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.49	+0.071%	$971.8M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.50	+0.077%	$364.4M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.40	−0.009%	$216K	$878K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.47	+0.056%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.85	−0.480%	$123.9M	$22.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.46	+0.043%	$842.2M	$672.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.52	+0.094%	$355.2M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.47	+0.048%	$126.5M	$230.4M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.50	+0.077%	$23.0M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.99	−0.357%	$24.8M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.07	−0.296%	$93.2M	$407.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.84	−0.490%	$47.4M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.75	−0.565%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.23	−0.155%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.46	+0.043%	$320K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.48	+0.062%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.46	+0.044%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.49	+0.066%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.48	+0.060%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.34	−0.060%	$225.3M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.46	+0.043%	$45.3M	$105.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.43	+0.014%	$8.0M	$39.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0105%	1h	116.52	+0.095%	$26.3M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.49	+0.068%	—	$239.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.644%	$4K	$2K	12x	as long as short
Phoenix SOLshort	+0.0179%	1h	116.37	−0.035%	$6.5M	$13.7M	25x
Reya SOLRUSDPERP	+0.0193%	1h	116.46	+0.042%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.44	+0.026%	$51.7M	$68.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.47	+0.055%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.53	+0.101%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0568%	1h	116.10	−0.266%	$25K	$55K	20x	as long as short