SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0108%/8h= −11.8% APRnext payment −$0.13 per $10,000 · paid last 24h −0.015%

Price spread now: Phoenix against GMX+0.133%7-day average +0.049% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now +0.133%, 7d avg +0.049%

Together, before fees+0.105%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.084% dearer against GMX than usual: you sell high and buy low (spread +0.133% now, against its 7-day average of +0.049%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days. At the pace of the last 4 days (−0.006% in total) that is about 53 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	117.73	L +0.0231% / S −0.0170%	pay 0.0029% / 1h	3m 07s	$3.5M	—	200x
Short	Phoenix SOL	117.89	0.0124	get 0.0015% / 1h	3m 07s	$6.5M	$13.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against GMX. 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 GMXbpFee PhoenixbpOrdersPrice spread, now +0.133%Rate

Funding earned: −$22.62
Price spread: +0.133% → +0.049%: $8.36
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$33.26
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phoenix: live order book, 6 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 6 min ago	0.85 bp	4.6 bp −$5	5.7 bp −$57	11.1 bp −$1,105	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SOL on 54 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	117.71	−0.019%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0056%	1h	117.77	+0.028%	$32.6M	$99.4M	100x	as long as short
Bybit SOLUSDT	−0.0045%	8h	117.68	−0.045%	$738.9M	$1.32B	100x	as long as short
Phemex SOLUSDT	−0.0037%	8h	117.72	−0.011%	$45.7M	$101.7M	50x	as long as short
Vest SOL-PERP	−0.0007%	1h	117.71	−0.022%	—	$405K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.72	−0.010%	$40K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.77	+0.030%	$1.3M	$17.9M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.72	−0.009%	$100K	$2.9M	8.3x	as long as short
Bitget SOLUSDT	+0.0026%	8h	117.70	−0.027%	$484.4M	$427.1M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.75	+0.014%	$8.2M	$387.8M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SOLUSDT	+0.0053%	8h	117.71	−0.021%	$179.0M	$165.0M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0064%	8h	117.69	−0.034%	$1.0M	$5.5M	100x	as long as short
dYdX SOL-USD	+0.0071%	1h	117.71	−0.020%	$8.2M	$21.2M	20x	as long as short
SoDEX SOL-USD	+0.0087%	1h	117.72	−0.011%	$6.2M	$11.1M	20x	as long as short
Lighter SOL	+0.0096%	1h	117.74	+0.005%	$13.2M	$57.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.71	−0.020%	$2.2M	$15.0M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.76	+0.023%	$102K	$182K	20x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	117.80	+0.056%	$103K	$647K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.72	−0.013%	$359K	$236K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	117.71	−0.021%	$1.0M	$555K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.73	−0.003%	$46K	$848K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.71	−0.018%	$5.5M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.85	+0.099%	$716.7M	$386.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	117.76	+0.026%	$15.9M	$122.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.66	−0.060%	$974.0M	$3.64B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.71	−0.020%	$366.6M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.69	−0.037%	$221K	$813K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.76	+0.023%	$940K	$8.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.73	−0.003%	$858.4M	$634.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.70	−0.028%	$425.7M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.71	−0.019%	$134.1M	$231.9M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.69	−0.040%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.72	−0.011%	$23.3M	$36.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.85	+0.095%	$25.2M	$101.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.80	+0.053%	$94.6M	$409.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.73	−0.004%	$48.2M	$26.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.75	+0.014%	$1.1M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.76	+0.023%	$1.3M	$10.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.69	−0.037%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.72	−0.012%	$285K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.72	−0.015%	$27K	$34K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.71	−0.022%	$191K	$1.6M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.70	−0.030%	$227.8M	$47.0M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.65	−0.074%	$127.3M	$25.1M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	117.66	−0.059%	$8.4M	$34.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	117.72	−0.015%	—	$215.0M	500x	as long as short
Phoenix SOLshort	+0.0124%	1h	117.89	+0.133%	$6.5M	$13.4M	25x
Deribit SOL_USDC-PERPETUAL	+0.0147%	1h	117.78	+0.043%	$26.5M	$20.1M	50x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−1.183%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0198%	1h	117.68	−0.047%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.69	−0.037%	$52.0M	$59.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0231% / S −0.0170%	1h	117.73	long leg	$3.5M	—	200x
Aftermath Perps SOLUSD	+0.0411%	1h	117.67	−0.053%	$25K	$53K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	117.78	+0.042%	$2.2M	$4.8M	20x	as long as short