SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.042%

Price spread now: Backpack against dYdX−0.034%7-day average +0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$17 on $10k

Price spread, last 7 days−0.223%−$22 · spread now −0.034%, 7d avg +0.118%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.152% cheaper against dYdX than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.118%). If the spread goes back, that is −$15 on $10k: about 5.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX SOL-USD	117.38	0	get 0.0000% / 1h	40m 08s	$4.5M	$24.1M	20x
Short	Backpack SOL_USDC_PERP	117.34	0.0100	get 0.0013% / 1h	40m 08s	$23.6M	$36.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now −0.034%Rate

Funding earned: $21
Price spread: −0.034% → +0.118%: −$15.24
Slippage, 4 orders: −$16.77
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$31.01
Costs to cover: 0.368%
Break-even: 17.3 days

Slippage from dYdX: live order book, 4 min ago; Backpack: 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 dYdX live order book, 4 min ago	6.81 bp	11.8 bp −$12	16.2 bp −$162	29.5 bp −$2,949	66.6 bp −$33.3K
Sell Backpack live order book, 4 min ago	0.43 bp	5.4 bp −$5	5.4 bp −$54	7.4 bp −$743	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	+0.006%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0059%	1h	117.30	−0.071%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.33	−0.044%	$31.6M	$98.4M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.27	−0.096%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.34	−0.037%	$56K	—	150x	as long as short
dYdX SOL-USDlong	0.0000%	1h	117.38	long leg	$4.5M	$24.1M	20x
Kalshi KXSOLPERP	0.0000%	8h	117.41	+0.026%	$1.4M	$19.4M	3.1x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0048%	1h	117.39	+0.005%	$26.4M	$25.2M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.40	+0.017%	$100K	$163K	20x	as long as short
HTX SOL-USDT	+0.0061%	8h	117.29	−0.076%	$227.8M	$45.5M	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	117.34	−0.030%	$8.0M	$402.8M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.52	+0.122%	$100K	$691K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.34	−0.033%	—	$363.0M	—	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.35	−0.022%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.33	−0.043%	$13.0M	$59.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.32	−0.050%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.33	−0.046%	$344K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.33	−0.043%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.39	+0.012%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.38	−0.003%	$5.8M	$39.5M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.33	−0.043%	$176.1M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.38	−0.003%	$14.5M	$127.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.32	−0.047%	$965.6M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.35	−0.026%	$819.2M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.32	−0.051%	$365.3M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.38	0.000%	$238K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.37	−0.012%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	+0.060%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.32	−0.051%	$857.1M	$647.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.32	−0.051%	$423.3M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.35	−0.027%	$129.9M	$212.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.33	−0.040%	$486.4M	$433.5M	100x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	117.34	−0.034%	$23.6M	$36.9M	50x
Variational Omni SOL	+0.0100%	8h	117.24	−0.117%	$24.3M	$117.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.40	+0.017%	$94.3M	$398.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.46	+0.069%	$48.1M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.39	+0.005%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.52	+0.119%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.34	−0.034%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.33	−0.044%	$200K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.31	−0.055%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.36	−0.017%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.33	−0.043%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.32	−0.051%	$45.7M	$100.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.31	−0.058%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.31	−0.062%	—	$220.9M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.38	0.000%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.44	+0.051%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0164%	1h	117.45	+0.060%	$717.4M	$393.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.32	−0.055%	$1.1M	$526K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	0.000%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.24	−0.119%	$51.8M	$70.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.33	−0.041%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0383%	1h	117.40	+0.016%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.39	+0.009%	$127K	$3.8M	8.3x	as long as short