Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.022%

Price spread now: Deribit against KuCoin+0.165%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 4 days (all we have)−0.539%−$54 · spread now +0.165%, 7d avg +0.012%

Together, before fees−0.584%−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.153% dearer against KuCoin than usual: you sell high and buy low (spread +0.165% now, against its 7-day average of +0.012%): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.8 days. At the pace of the last 7 days (−0.045% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOLUSDTM	117.31	0.0100	pay 0.0100% / 8h	5h 06m	$130.2M	$213.6M	75x
Short	Deribit SOL_USDC-PERPETUAL	117.50	0.0048	get 0.0006% / 1h	6m 54s	$26.4M	$24.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.165%Rate

Funding earned: −$10.93
Price spread: +0.165% → +0.012%: $15.32
Slippage, 4 orders: −$7.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$22.01
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Deribit: 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	0.68 bp	7.9 bp −$8	9.8 bp −$98	15.3 bp −$1,533	doesn't fit
Sell Deribit live order book, 2 min ago	1.02 bp	4.7 bp −$5	5.5 bp −$55	18.1 bp −$1,807	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
Hotstuff SOL-PERP	−0.0080%	1h	117.58	+0.225%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	117.45	+0.116%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.44	+0.112%	$31.5M	$98.6M	100x	as long as short
Bluefin SOL-PERP	−0.0043%	1h	117.47	+0.136%	$25K	$28K	25x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.41	+0.082%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.50	+0.161%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.56	+0.209%	$4.5M	$24.1M	20x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	117.64	+0.282%	$104K	$696K	20x	as long as short
Deribit SOL_USDC-PERPETUALshort	+0.0048%	1h	117.50	+0.165%	$26.4M	$24.9M	50x
01 Exchange SOLUSD	+0.0064%	1h	117.49	+0.153%	$100K	$166K	20x	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	+0.0064%	1h	117.46	+0.129%	$7.9M	$403.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.50	+0.161%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.45	+0.118%	$13.2M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.44	+0.107%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.46	+0.127%	$344K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.48	+0.144%	$56K	$840K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.58	+0.229%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.52	+0.174%	$5.8M	$38.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.44	+0.106%	$176.7M	$180.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.57	+0.218%	$14.5M	$128.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.34	+0.025%	$966.9M	$3.71B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.33	+0.014%	$825.8M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.29	−0.018%	$365.4M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.51	+0.170%	$234K	$861K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.53	+0.182%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.557%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.44	+0.110%	$858.0M	$655.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.28	−0.026%	$424.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTMlong	+0.0100%	8h	117.31	long leg	$130.2M	$213.6M	75x
Bitget SOLUSDT	+0.0100%	8h	117.27	−0.034%	$485.8M	$431.8M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.42	+0.095%	—	$363.1M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.44	+0.110%	$23.6M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.77	+0.393%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.75	+0.376%	$94.6M	$391.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.66	+0.298%	$48.2M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.69	+0.323%	$1.7M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.63	+0.272%	$1.3M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.46	+0.127%	$351K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.48	+0.144%	$200K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.57	+0.223%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.45	+0.118%	$6.2M	$10.7M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.46	+0.124%	$228.1M	$45.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.48	+0.144%	$45.9M	$100.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0102%	8h	117.50	+0.161%	$1.3M	$18.4M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.25	−0.049%	$8.2M	$36.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.51	+0.173%	—	$215.3M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.99	+0.579%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.58	+0.225%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0169%	1h	117.54	+0.195%	$719.0M	$387.9M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.45	+0.117%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.56	+0.212%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.45	+0.118%	$51.7M	$71.4M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.49	+0.156%	$127K	$3.7M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.48	+0.148%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0409%	1h	117.76	+0.379%	$25K	$50K	20x	as long as short