Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0074%/8hpaid last 24h −0.033%

Price spread now: SunX against GMX−0.112%7-day average −0.056% · you buy dearer than you sell

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.050%+$5 · spread now −0.112%, 7d avg −0.056%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.056% cheaper against GMX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	117.92	L +0.0174% / S −0.0077%	pay 0.0022% / 1h	39m 37s	$3.7M	—	200x
Short	SunX SOL-USDT	117.79	0.0100	get 0.0100% / 8h	4h 39m	$191K	$1.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$15.5
Price spread: −0.112% → −0.056%: −$5.61
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$41.12
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	4.21 bp	19.2 bp −$19	31.0 bp −$310	doesn't fit	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 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
Injective SOL/USDC PERP	−0.0627%	1h	117.70	−0.188%	$4K	$41K	12x	as long as short
Bluefin SOL-PERP	−0.0240%	1h	117.92	−0.005%	$37K	$13K	25x	as long as short
dYdX SOL-USD	−0.0229%	1h	117.94	+0.012%	$5.2M	$24.4M	20x	as long as short
Vest SOL-PERP	−0.0096%	1h	117.87	−0.041%	—	$728K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.89	−0.025%	$836	$8K	25x	as long as short
Derive SOL-PERP	−0.0056%	1h	117.85	−0.064%	$1.9M	$3.1M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.95	+0.024%	$58K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.85	−0.064%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.86	−0.055%	$172K	$4.0M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0001%	1h	117.68	−0.201%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0007%	8h	117.84	−0.070%	$229.8M	$41.7M	75x	as long as short
KuCoin SOLUSDTM	+0.0046%	8h	117.90	−0.022%	$140.5M	$170.2M	75x	as long as short
BingX SOL-USDC	+0.0047%	8h	117.90	−0.018%	—	$10.4M	—	as long as short
Orderly PERP_SOL_USDC	+0.0053%	8h	117.93	+0.009%	$1.1M	$5.5M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0061%	1h	117.91	−0.007%	$34.1M	$83.7M	100x	as long as short
Bitget SOLUSDT	+0.0061%	8h	117.97	+0.043%	$495.5M	$436.1M	100x	as long as short
OKX SOL-USDT-SWAP	+0.0068%	8h	117.96	+0.033%	$367.1M	$1.65B	100x	as long as short
ApeX Omni SOLUSDT	+0.0069%	1h	117.81	−0.094%	$1.6M	$6.3M	50x	as long as short
Gate SOL_USDT	+0.0072%	8h	117.90	−0.018%	$860.7M	$653.2M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.93	+0.005%	$13.4M	$48.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.91	−0.007%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.90	−0.017%	$349K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	117.90	−0.022%	$1.0M	$437K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.92	−0.001%	$43K	$719K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.92	+0.001%	$5.4M	$39.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.09	+0.143%	$710.3M	$425.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.95	+0.024%	$177.5M	$169.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.95	+0.026%	$13.3M	$105.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.96	+0.033%	$961.8M	$3.60B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.02	+0.084%	$816.9M	$1.22B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.88	−0.035%	$233K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.89	−0.027%	$1.8M	$8.3M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.65	−0.230%	$128.6M	$16.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.91	−0.010%	$426.0M	$1.04B	300x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.86	−0.052%	$24.1M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.84	−0.068%	$27.7M	$117.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.79	−0.115%	$94.6M	$380.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.82	−0.082%	$48.2M	$32.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.81	−0.094%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.00	+0.067%	$383K	$2.2M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.91	−0.009%	$207K	$1.7M	20x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	117.79	−0.112%	$191K	$1.9M	30x
SoDEX SOL-USD	+0.0100%	1h	117.89	−0.027%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.90	−0.018%	$45.8M	$95.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.88	−0.038%	$8.6M	$36.9M	50x	as long as short
01 Exchange SOLUSD	+0.0104%	1h	118.02	+0.084%	$114K	$132K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	117.93	+0.007%	$7.8M	$391.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	117.81	−0.096%	—	$205.9M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0118%	1h	117.96	+0.033%	$26.5M	$27.1M	50x	as long as short
Phoenix SOL	+0.0149%	1h	117.71	−0.179%	$7.3M	$11.4M	25x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0174% / S −0.0077%	1h	117.92	long leg	$3.7M	—	200x
Reya SOLRUSDPERP	+0.0184%	1h	117.96	+0.033%	$1.1M	$531K	25x	as long as short
RISEx SOL/USDC	+0.0185%	1h	117.95	+0.021%	$1.6M	$6.6M	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.95	+0.024%	$51.8M	$91.8M	125x	as long as short
Hibachi SOL/USDT-P	+0.0224%	1h	117.87	−0.041%	$117K	$524K	20x	as long as short