Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against KuCoin+0.004%7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 7 days−0.911%−$91 · spread now +0.004%, 7d avg +0.105%

Together, before fees−0.823%−$82 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: Backpack is 0.101% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOLUSDTM	117.13	0.0100	pay 0.0100% / 8h	6h 20m	$134.1M	$229.4M	75x
Short	Backpack SOL_USDC_PERP	117.13	0.0100	get 0.0013% / 1h	20m 23s	$23.2M	$35.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → +0.105%: −$10.11
Slippage, 4 orders: −$6.55
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$38.67
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Backpack: live order book, 2 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 KuCoin live order book, 2 min ago	0.34 bp	9.3 bp −$9	11.6 bp −$116	18.9 bp −$1,886	doesn't fit
Sell Backpack live order book, 2 min ago	0.43 bp	6.3 bp −$6	7.1 bp −$71	10.7 bp −$1,073	doesn't fit

SOL on 54 exchanges

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	−0.0804%	1h	117.10	−0.022%	$27K	$35K	25x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	117.13	+0.005%	$100K	$650K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.12	−0.003%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0047%	8h	117.10	−0.021%	$734.1M	$1.27B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.13	+0.004%	$39K	—	150x	as long as short
Vest SOL-PERP	0.0000%	1h	117.12	−0.008%	—	$284K	20x	as long as short
Perpl SOL	0.0000%	43m	117.14	+0.016%	$100K	$2.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.17	+0.037%	$26.3M	$18.7M	50x	as long as short
Bitget SOLUSDT	+0.0027%	8h	117.11	−0.016%	$482.7M	$409.6M	100x	as long as short
Injective SOL/USDC PERP	+0.0033%	1h	116.85	−0.235%	$4K	$122	12x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.14	+0.016%	$8.4M	$375.7M	50x	as long as short
Aster SOLUSDT	+0.0044%	8h	117.10	−0.026%	$177.6M	$158.6M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	117.11	−0.015%	$1.0M	$5.3M	100x	as long as short
SoDEX SOL-USD	+0.0060%	1h	117.11	−0.013%	$6.2M	$11.1M	20x	as long as short
Gate SOL_USDT	+0.0070%	8h	117.13	+0.004%	$850.9M	$599.5M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.18	+0.047%	$101K	$181K	20x	as long as short
ApeX Omni SOLUSDT	+0.0087%	1h	117.24	+0.095%	$1.1M	$6.7M	50x	as long as short
MEXC SOL_USDT	+0.0093%	8h	117.10	−0.021%	$430.5M	$993.3M	300x	as long as short
Binance SOLUSDT	+0.0093%	8h	117.09	−0.027%	$967.0M	$3.50B	100x	as long as short
Lighter SOL	+0.0096%	1h	117.11	−0.013%	$13.2M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.10	−0.023%	$2.2M	$13.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.08	−0.041%	$356K	$250K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.07	−0.046%	$1.0M	$557K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.11	−0.013%	$45K	$864K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.10	−0.025%	$5.6M	$39.5M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.14	+0.011%	$16.0M	$119.9M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.10	−0.021%	$360.8M	$1.58B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.18	+0.047%	$222K	$779K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.15	+0.021%	$898K	$7.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.25	+0.109%	$127.0M	$16.9M	20x	as long as short
KuCoin SOLUSDTMlong	+0.0100%	8h	117.13	long leg	$134.1M	$229.4M	75x
BingX SOL-USDT	+0.0100%	8h	117.10	−0.025%	—	$342.7M	—	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	117.13	+0.004%	$23.2M	$35.4M	50x
Variational Omni SOL	+0.0100%	8h	117.07	−0.046%	$25.1M	$100.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.12	−0.001%	$94.0M	$383.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.14	+0.016%	$47.9M	$25.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.15	+0.021%	$1.3M	$10.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.10	−0.021%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.12	−0.006%	$285K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.11	−0.016%	$190K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.21	+0.074%	$226.8M	$41.8M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.13	+0.004%	$45.5M	$101.3M	50x	as long as short
Kalshi KXSOLPERP	+0.0101%	8h	117.20	+0.067%	$1.3M	$16.4M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.06	−0.056%	$8.5M	$33.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.11	−0.014%	—	$213.7M	500x	as long as short
dYdX SOL-USD	+0.0124%	1h	117.12	−0.007%	$9.3M	$18.3M	20x	as long as short
Phoenix SOL	+0.0129%	1h	117.26	+0.115%	$6.6M	$12.8M	25x	as long as short
Hyperliquid SOL	+0.0155%	1h	117.26	+0.119%	$718.9M	$374.8M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0185%	1h	117.13	+0.007%	$32.5M	$94.1M	100x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.08	−0.040%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0214%	8h	117.11	−0.013%	$51.6M	$57.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0170%	1h	117.11	−0.010%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0273%	1h	117.17	+0.038%	$2.2M	$4.5M	20x	as long as short
Aftermath Perps SOLUSD	+0.0405%	1h	117.16	+0.027%	$25K	$54K	20x	as long as short