Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Phemex against edgeX−0.052%78s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as 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−$310.307% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now −0.052%, 7d avg +0.023%

Together, before fees−0.172%+ Points / potential airdropedgeX: Active · farm board−$17 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: Phemex is 0.075% cheaper against edgeX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 78 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	116.72	0.0100	pay 0.0050% / 4h	21m 57s	$93.7M	$398.5M	75x
Short	Phemex SOLUSDT	116.66	0.0100	get 0.0100% / 8h	4h 21m	$45.6M	$102.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.023%: −$7.48
Slippage, 4 orders: −$9.65
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$38.13
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Phemex: 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	2.57 bp	7.1 bp −$7	7.1 bp −$71	7.2 bp −$716	10.5 bp −$5,237
Sell Phemex live order book, 2 min ago	0.43 bp	9.8 bp −$10	17.9 bp −$179	27.3 bp −$2,726	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
Hibachi SOL/USDT-P	−0.0128%	1h	116.68	−0.035%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.67	−0.045%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.68	−0.037%	$912	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.69	−0.027%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.74	+0.015%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.70	−0.018%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0031%	1h	116.65	−0.062%	$1.9M	$2.9M	13x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.79	+0.059%	$99K	$172K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.69	−0.022%	$7.4M	$404.8M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.68	−0.033%	$31.1M	$100.2M	100x	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	+0.0091%	8h	116.72	−0.003%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.69	−0.030%	$13.1M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.67	−0.043%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.70	−0.014%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.70	−0.018%	$51K	$868K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.77	+0.041%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.68	−0.037%	$5.3M	$39.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.70	−0.018%	$704.4M	$395.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.59	−0.109%	$174.7M	$182.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	+0.010%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.62	−0.086%	$969.4M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.55	−0.145%	$782.0M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.60	−0.104%	$369.3M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.71	−0.009%	$231K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.77	+0.039%	$929K	$9.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.61	−0.095%	$841.8M	$662.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.62	−0.086%	$387.8M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.63	−0.081%	$127.8M	$219.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.62	−0.090%	$479.2M	$441.5M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.60	−0.103%	—	$365.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.61	−0.095%	$23.3M	$38.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.61	−0.092%	$24.3M	$113.7M	—	as long as short
edgeX SOLUSDClong	+0.0100%	4h	116.72	long leg	$93.7M	$398.5M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	116.73	+0.005%	$47.7M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.81	+0.076%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.69	−0.027%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.74	+0.016%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.67	−0.039%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.69	−0.023%	$25K	$30K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.73	+0.010%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.69	−0.027%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.61	−0.092%	$226.4M	$47.1M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.66	−0.052%	$45.6M	$102.1M	50x
Bulk SOL-USD	+0.0100%	1h	116.70	−0.018%	$133.2M	$21.0M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.57	−0.126%	$8.3M	$37.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.75	+0.022%	—	$231.0M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0127%	1h	116.74	+0.016%	$26.4M	$25.4M	50x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.73	+0.008%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.83	+0.093%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.69	−0.024%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.69	−0.027%	$51.8M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0181%	1h	116.69	−0.029%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.73	+0.009%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0526%	1h	116.76	+0.036%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.82	+0.085%	$1.9M	$4.9M	20x	as long as short