Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0186%/8h= +20.3% APRpaid last 24h +0.037%

Price spread now: SunX against Derive+0.144%7-day average +0.015% · you sell dearer than you buy

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

Long on Derive Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)−0.160%−$16 · spread now +0.144%, 7d avg +0.015%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and SunX is 0.129% dearer against Derive than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.015%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive SOL-PERP	119.13	−0.0086	get 0.0011% / 1h	28m 07s	$2.0M	$3.0M	13x
Short	SunX SOL-USDT	119.31	0.0100	get 0.0100% / 8h	1h 28m	$194K	$1.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.144%Rate

Funding earned: $38.99
Price spread: +0.144% → +0.015%: $12.94
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: $37.93
Costs to cover: 0.140%
Break-even: 0.2 days

Slippage unknown: Derive: no order-book sample; SunX: live order book, 8 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 SunX live order book, 8 min ago	3.92 bp	17.9 bp −$18	30.2 bp −$302	doesn't fit	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
Bluefin SOL-PERP	−0.0118%	1h	119.23	+0.080%	$37K	$17K	25x	as long as short
Derive SOL-PERPlong	−0.0086%	1h	119.13	long leg	$2.0M	$3.0M	13x
Hotstuff SOL-PERP	−0.0080%	1h	119.34	+0.170%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0060%	1h	119.24	+0.087%	—	$722K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0005% / S +0.0004%	1h	119.25	+0.095%	$106K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.34	+0.176%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.37	+0.200%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.24	+0.088%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	119.30	+0.143%	$120K	$611K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.24	+0.088%	$6.6M	$13.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0067%	8h	119.22	+0.073%	$1.1M	$5.9M	100x	as long as short
Aftermath Perps SOLUSD	+0.0078%	1h	119.34	+0.171%	$24K	$47K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.19	+0.042%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0084%	8h	119.15	+0.014%	$232.0M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0086%	8h	119.17	+0.030%	$869.9M	$683.5M	100x	as long as short
01 Exchange SOLUSD	+0.0088%	1h	119.35	+0.181%	$104K	$154K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.17	+0.033%	$13.6M	$55.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.16	+0.017%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.18	+0.040%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.27	+0.110%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.31	+0.147%	$47K	$794K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.36	+0.189%	$6.2M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.23	+0.080%	$717.6M	$416.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.22	+0.075%	$178.4M	$176.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.35	+0.181%	$12.4M	$117.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.14	+0.004%	$985.2M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.17	+0.027%	$823.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.12	−0.012%	$370.9M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.08	−0.046%	$233K	$885K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.38	+0.208%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.16	+0.018%	$133.7M	$8.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.17	+0.030%	$452.9M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.19	+0.050%	$141.2M	$201.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.13	−0.003%	$494.9M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.18	+0.038%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	+0.105%	$27.9M	$128.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.40	+0.224%	$95.9M	$399.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.09	−0.034%	$48.8M	$31.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.40	+0.220%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.28	+0.122%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.29	+0.130%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.22	+0.072%	$202K	$1.7M	20x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	119.31	+0.144%	$194K	$1.9M	30x
SoDEX SOL-USD	+0.0100%	1h	119.17	+0.030%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.18	+0.038%	$46.5M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.18	+0.034%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.20	+0.059%	$8.2M	$415.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.38	+0.208%	—	$223.3M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0145%	1h	119.25	+0.096%	$26.7M	$27.6M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	119.17	+0.029%	$32.6M	$95.8M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0085%	1h	119.25	+0.095%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.23	+0.077%	$1.1M	$557K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.38	+0.209%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.004%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.28	+0.122%	$52.3M	$82.8M	125x	as long as short