Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h +0.051%

Price spread now: Paradex against Hotstuff−0.023%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.023% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 11 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff SOL-PERP	116.47	−0.0080	get 0.0010% / 1h	47m 54s	$1K	$8K	25x
Short	Paradex SOL-USD-PERP	116.44	0.0097	get 0.0097% / 8h	7h 47m	$1.0M	$555K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Hotstuff. 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 HotstuffbpFee ParadexbpOrdersPrice spread, now −0.023%Rate

Funding earned: $37.15
Price spread: −0.023% → 0.000%: −$2.33
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $25.81
Costs to cover: 0.090%
Break-even: 2.1 days

Slippage unknown: Hotstuff: no order-book sample; Paradex: live order book, 1 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Paradex live order book, 1 min ago	1.54 bp	3.5 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit

Hotstuff: 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
Phemex SOLUSDT	−0.0166%	8h	116.45	−0.018%	$45.3M	$103.5M	50x	as long as short
Hotstuff SOL-PERPlong	−0.0080%	1h	116.47	long leg	$1K	$8K	25x
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.51	+0.035%	$32.3M	$106.4M	100x	as long as short
Vest SOL-PERP	−0.0011%	1h	116.45	−0.014%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.50	+0.028%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.48	+0.008%	$4.3M	$23.4M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.49	+0.014%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.44	−0.027%	$99K	$3.4M	8.3x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.38	−0.078%	$1.9M	$3.0M	13x	as long as short
Bitget SOLUSDT	+0.0025%	8h	116.47	+0.002%	$480.5M	$453.7M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.51	+0.031%	$7.8M	$395.6M	50x	as long as short
Bybit SOLUSDT	+0.0047%	8h	116.47	−0.005%	$732.4M	$1.41B	100x	as long as short
Aster SOLUSDT	+0.0054%	8h	116.48	+0.007%	$177.2M	$169.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0069%	8h	116.49	+0.017%	$1.0M	$6.0M	100x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	116.49	+0.013%	$103K	$680K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0080%	1h	116.54	+0.056%	$26.2M	$21.8M	50x	as long as short
Lighter SOL	+0.0096%	1h	116.47	+0.003%	$13.1M	$55.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.47	−0.004%	$2.2M	$14.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.47	0.000%	$351K	$255K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0097%	8h	116.44	−0.023%	$1.0M	$555K	50x
Katana Perps SOL-USD	+0.0100%	8h	116.43	−0.035%	$64K	$903K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.41	−0.048%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.58	+0.094%	$696.4M	$406.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.48	+0.008%	$15.7M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.48	+0.011%	$963.4M	$3.85B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.48	+0.008%	$366.8M	$1.76B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.087%	$219K	$850K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.46	−0.008%	$920K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.49	+0.016%	$849.2M	$607.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.49	+0.016%	$370.9M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.50	+0.023%	$129.8M	$237.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.48	+0.009%	—	$372.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.49	+0.016%	$22.9M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.45	−0.022%	$24.9M	$105.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.30	−0.150%	$93.4M	$405.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.39	−0.069%	$47.6M	$29.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.38	−0.078%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.47	−0.001%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.51	+0.033%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.51	+0.030%	$283K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.48	+0.012%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.42	−0.044%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.47	−0.001%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.45	−0.019%	$225.5M	$50.6M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.018%	$126.0M	$25.6M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.46	−0.013%	$8.3M	$36.6M	50x	as long as short
01 Exchange SOLUSD	+0.0120%	1h	116.52	+0.042%	$100K	$182K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.46	−0.008%	—	$231.3M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.45	−0.018%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.112%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.45	−0.014%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.46	−0.009%	$52.2M	$64.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.50	+0.027%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0414%	1h	116.43	−0.034%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.51	+0.037%	$2.1M	$4.8M	20x	as long as short