Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against edgeX−0.160%85s7-day average +0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as 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−$250.246% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days−0.056%−$6 · spread now −0.160%, 7d avg +0.122%

Together, before fees−0.036%+ Points / potential airdropedgeX: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.282% cheaper against edgeX than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.122%. The two prices were read 85 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	edgeX SOLUSDC	116.71	0.0100	pay 0.0050% / 4h	52m 07s	$93.7M	$396.6M	75x
Short	Backpack SOL_USDC_PERP	116.52	0.0100	get 0.0013% / 1h	52m 07s	$23.3M	$37.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → +0.122%: −$28.2
Slippage, 4 orders: −$5.61
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$52.81
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Backpack: 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 edgeX live order book, 2 min ago	2.14 bp	6.6 bp −$7	6.6 bp −$66	6.7 bp −$673	9.9 bp −$4,966
Sell Backpack live order book, 2 min ago	0.43 bp	5.4 bp −$5	6.2 bp −$62	8.0 bp −$799	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
ApeX Omni SOLUSDT	−0.0435%	1h	116.33	−0.322%	$1.7M	$6.0M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.53	−0.149%	$911	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	116.55	−0.132%	—	$602K	20x	as long as short
Hibachi SOL/USDT-P	−0.0016%	1h	116.71	+0.004%	$103K	$700K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.55	−0.134%	$54K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.62	−0.074%	$4.4M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.62	−0.072%	$1.4M	$18.7M	3.1x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.50	−0.180%	$1.9M	$2.8M	13x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.57	−0.117%	$99K	$168K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.58	−0.110%	$7.6M	$403.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.54	−0.142%	$30.8M	$100.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.56	−0.126%	$1.0M	$5.8M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0093%	1h	116.61	−0.083%	$26.3M	$25.2M	50x	as long as short
Lighter SOL	+0.0096%	1h	116.56	−0.125%	$13.0M	$59.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.53	−0.151%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.56	−0.125%	$342K	$235K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.65	−0.048%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.52	−0.160%	$50K	$858K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.46	−0.209%	$5.5M	$39.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.63	−0.065%	$706.6M	$395.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.57	−0.115%	$175.1M	$181.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.66	−0.039%	$15.5M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.56	−0.125%	$961.0M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.52	−0.160%	$792.4M	$1.33B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.56	−0.125%	$363.4M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.61	−0.083%	$232K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.53	−0.149%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	−0.042%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.55	−0.134%	$847.9M	$652.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.57	−0.117%	$415.2M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.53	−0.152%	$126.3M	$216.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.53	−0.150%	$481.2M	$438.8M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.54	−0.143%	—	$365.0M	—	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	116.52	−0.160%	$23.3M	$37.6M	50x
Variational Omni SOL	+0.0100%	8h	116.68	−0.026%	$24.4M	$115.2M	—	as long as short
edgeX SOLUSDClong	+0.0100%	4h	116.71	long leg	$93.7M	$396.6M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	116.56	−0.123%	$47.6M	$29.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.68	−0.023%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.54	−0.143%	$333K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.52	−0.159%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.52	−0.164%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.51	−0.166%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.55	−0.134%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.50	−0.175%	$226.1M	$46.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.58	−0.108%	$45.6M	$101.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.51	−0.171%	$8.0M	$36.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.69	−0.018%	—	$221.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.731%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.76	+0.046%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.53	−0.149%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.71	+0.003%	$51.9M	$72.0M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.55	−0.135%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.57	−0.119%	$128K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0470%	1h	116.76	+0.044%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.59	−0.098%	$1.9M	$4.9M	20x	as long as short