Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.027%

Price spread now: Phemex against gTrade (Gains Network)−0.006%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$287as in the Price arb table

costs, in and out, $10k−$2872.865% of the position

Long on gTrade (Gains Network)Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) SOL/USD	118.87	L −0.0006% / S +0.0004%	get 0.0001% / 1h	7m 52s	$112K	—	150x
Short	Phemex SOLUSDT	118.86	0.0100	get 0.0100% / 8h	1h 07m	$46.4M	$102.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now −0.006%Rate

Funding earned: $22.22
Price spread: −0.006% → 0.000%: −$0.59
Slippage, 4 orders: −$264.54
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$264.91
Costs to cover: 2.865%
Break-even: 90.5 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 21 min ago; Phemex: live order book, 6 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 gTrade (Gains Network) virtual book (oracle venue), 21 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	515.4 bp −$51.5K	2868.9 bp −$1.43M
Sell Phemex live order book, 6 min ago	0.42 bp	7.4 bp −$7	9.1 bp −$91	15.0 bp −$1,500	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
Bluefin SOL-PERP	−0.0241%	1h	118.86	−0.005%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.98	+0.093%	$844	$8K	25x	as long as short
Vest SOL-PERP	−0.0064%	1h	118.83	−0.028%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	118.78	−0.073%	$2.0M	$3.0M	13x	as long as short
gTrade (Gains Network) SOL/USDlong	L −0.0006% / S +0.0004%	1h	118.87	long leg	$112K	—	150x
dYdX SOL-USD	−0.0001%	1h	118.88	+0.014%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.01	+0.123%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.93	+0.053%	$176K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0020%	1h	118.89	+0.021%	$26.6M	$27.8M	50x	as long as short
Phoenix SOL	+0.0054%	1h	118.90	+0.028%	$6.5M	$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	+0.0069%	8h	118.87	+0.005%	$1.0M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.91	+0.036%	$104K	$156K	20x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	119.03	+0.139%	$119K	$614K	20x	as long as short
Aftermath Perps SOLUSD	+0.0074%	1h	119.02	+0.132%	$24K	$47K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.91	+0.037%	—	$374.4M	—	as long as short
HTX SOL-USDT	+0.0081%	8h	118.92	+0.044%	$231.5M	$45.1M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	118.89	+0.019%	$868.4M	$688.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.86	−0.002%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.84	−0.021%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.84	−0.021%	$352K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.96	+0.080%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.89	+0.019%	$46K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.86	−0.006%	$6.0M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.96	+0.078%	$716.5M	$408.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.89	+0.021%	$178.0M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.02	+0.129%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.90	+0.028%	$979.8M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.92	+0.045%	$826.8M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.91	+0.036%	$371.4M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.80	−0.056%	$233K	$884K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.96	+0.082%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.85	−0.014%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.89	+0.019%	$453.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.89	+0.017%	$139.4M	$202.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.86	−0.007%	$494.8M	$456.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.87	+0.003%	$24.1M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.87	+0.002%	$27.5M	$128.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.86	−0.006%	$95.5M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.97	+0.086%	$48.7M	$31.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.93	+0.054%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.99	+0.103%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.85	−0.014%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.86	−0.008%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.00	+0.108%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.84	−0.023%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	118.86	−0.006%	$46.4M	$102.4M	50x
Extended SOL-USD	+0.0104%	1h	118.86	−0.010%	$8.7M	$36.2M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.87	0.000%	$8.2M	$415.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.90	+0.029%	—	$224.9M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	118.83	−0.029%	$32.6M	$96.9M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0170% / S −0.0072%	1h	118.87	0.000%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	118.84	−0.022%	$1.1M	$551K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	118.94	+0.063%	$1.7M	$5.8M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.432%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.98	+0.095%	$52.1M	$84.1M	125x	as long as short