Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.032%

Price spread now: Phoenix against edgeX−0.031%7-day average +0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.275%+$28 on $10k

Price spread, last 7 days+0.213%+$21 · spread now −0.031%, 7d avg +0.155%

Together, before fees+0.488%+ Points / potential airdropedgeX: Active · farm board+$49 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: Phoenix is 0.186% cheaper against edgeX than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.155%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SOLUSDC	119.66	0.0100	pay 0.0050% / 4h	49m 11s	$96.1M	$402.2M	75x
Short	Phoenix SOL	119.62	0.0100	get 0.0013% / 1h	49m 11s	$6.6M	$13.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0.09
Price spread: −0.031% → +0.155%: −$18.64
Slippage, 4 orders: −$7.18
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$41.74
Costs to cover: 0.232%
Break-even: 3266.4 days

Slippage from edgeX: live order book, 5 min ago; Phoenix: live order book, 5 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, 5 min ago	2.51 bp	7.0 bp −$7	7.0 bp −$70	7.1 bp −$713	10.5 bp −$5,236
Sell Phoenix live order book, 5 min ago	0.83 bp	4.6 bp −$5	5.7 bp −$57	12.4 bp −$1,244	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	119.55	−0.086%	$848	$8K	25x	as long as short
Derive SOL-PERP	−0.0073%	1h	119.41	−0.204%	$2.0M	$2.8M	13x	as long as short
Vest SOL-PERP	−0.0066%	1h	119.51	−0.125%	—	$723K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.55	−0.090%	$113K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.61	−0.037%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.52	−0.118%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.57	−0.075%	$177K	$4.0M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0060%	1h	119.63	−0.023%	$1.5M	$6.2M	50x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.58	−0.065%	$104K	$157K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	119.50	−0.133%	$1.1M	$5.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SOL-USDT	+0.0080%	8h	119.54	−0.099%	—	$372.0M	—	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0080%	1h	119.57	−0.069%	$26.7M	$26.0M	50x	as long as short
Gate SOL_USDT	+0.0089%	8h	119.52	−0.115%	$870.9M	$674.4M	100x	as long as short
HTX SOL-USDT	+0.0090%	8h	119.43	−0.189%	$232.3M	$45.0M	75x	as long as short
Lighter SOL	+0.0096%	1h	119.53	−0.109%	$13.7M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.50	−0.129%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.49	−0.139%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.56	−0.080%	$8.2M	$418.5M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.52	−0.118%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.55	−0.090%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.57	−0.069%	$6.1M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.64	−0.012%	$725.0M	$410.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.51	−0.122%	$178.9M	$175.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.60	−0.048%	$12.4M	$120.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.51	−0.123%	$986.2M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.54	−0.098%	$831.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.50	−0.131%	$373.2M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.66	+0.002%	$234K	$875K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.58	−0.064%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.65	−0.006%	$134.3M	$6.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.54	−0.098%	$447.1M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.54	−0.098%	$139.6M	$203.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.50	−0.131%	$497.7M	$456.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.54	−0.098%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.65	−0.006%	$27.4M	$128.7M	—	as long as short
edgeX SOLUSDClong	+0.0100%	4h	119.66	long leg	$96.1M	$402.2M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	119.63	−0.019%	$49.0M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.62	−0.031%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.54	−0.098%	$370K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.54	−0.102%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.50	−0.129%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.53	−0.104%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.52	−0.115%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.56	−0.081%	$46.7M	$102.6M	50x	as long as short
Aftermath Perps SOLUSD	+0.0100%	1h	119.60	−0.046%	$24K	$47K	20x	as long as short
Phoenix SOLshort	+0.0100%	1h	119.62	−0.031%	$6.6M	$13.7M	25x
Extended SOL-USD	+0.0104%	1h	119.49	−0.140%	$8.7M	$35.9M	50x	as long as short
Hibachi SOL/USDT-P	+0.0104%	1h	119.69	+0.031%	$122K	$639K	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	119.57	−0.071%	$32.7M	$97.0M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.56	−0.085%	—	$224.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.60	−0.048%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0183%	1h	119.52	−0.116%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.52	−0.115%	$52.0M	$84.4M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.58	−0.067%	$1.7M	$5.2M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0241% / S −0.0181%	1h	119.55	−0.087%	$3.8M	—	200x	as long as short