Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0162%/8h= −17.7% APRpaid last 24h −0.039%

Price spread now: Derive against KuCoin−0.182%7-day average −0.043% · you buy dearer than you sell

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

Long on KuCoin Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 3 days (all we have)+0.121%+$12 · spread now −0.182%, 7d avg −0.043%

Together, before fees+0.155%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Derive is 0.139% cheaper against KuCoin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOLUSDTM	119.06	0.0100	pay 0.0100% / 8h	7h 31m	$138.3M	$202.2M	75x
Short	Derive SOL-PERP	118.84	−0.0062	pay 0.0008% / 1h	31m 31s	$2.0M	$2.7M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.182%Rate

Funding earned: −$33.93
Price spread: −0.182% → −0.043%: −$13.89
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Derive: 3 bp × 2 orders: −$6
Net: −$65.82
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 min ago; Derive: no order-book sample. 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 KuCoin live order book, 3 min ago	0.38 bp	8.0 bp −$8	11.4 bp −$114	18.7 bp −$1,870	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Bluefin SOL-PERP	−0.0146%	1h	118.91	−0.123%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.04	−0.018%	$844	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.81	−0.209%	—	$608K	20x	as long as short
Derive SOL-PERPshort	−0.0062%	1h	118.84	−0.182%	$2.0M	$2.7M	13x
HTX SOL-USDT	−0.0042%	8h	118.81	−0.209%	$231.2M	$43.9M	75x	as long as short
dYdX SOL-USD	−0.0018%	1h	119.04	−0.014%	$5.0M	$25.7M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.98	−0.067%	$32.4M	$96.5M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.93	−0.111%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.87	−0.161%	$1.2M	$20.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.79	−0.223%	$158K	$3.9M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0032%	1h	119.04	−0.016%	$104K	$159K	20x	as long as short
Hibachi SOL/USDT-P	+0.0056%	1h	119.00	−0.049%	$101K	$656K	20x	as long as short
Phemex SOLUSDT	+0.0069%	8h	118.92	−0.117%	$46.6M	$100.5M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.98	−0.069%	—	$10.5M	—	as long as short
Orderly PERP_SOL_USDC	+0.0081%	8h	118.94	−0.102%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.98	−0.066%	$8.0M	$410.7M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.02	−0.033%	$14.2M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.00	−0.050%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.94	−0.099%	$349K	$248K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.04	−0.015%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.01	−0.041%	$47K	$778K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.78	−0.234%	$5.9M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.11	+0.043%	$721.9M	$399.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.02	−0.033%	$179.4M	$176.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.06	+0.001%	$12.2M	$123.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.03	−0.028%	$979.9M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.05	−0.008%	$824.5M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.01	−0.041%	$371.5M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.95	−0.092%	$233K	$842K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.04	−0.018%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.80	−0.218%	$134.2M	$6.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	119.03	−0.024%	$859.3M	$664.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.03	−0.024%	$428.6M	$1.12B	300x	as long as short
KuCoin SOLUSDTMlong	+0.0100%	8h	119.06	long leg	$138.3M	$202.2M	75x
Bitget SOLUSDT	+0.0100%	8h	119.03	−0.025%	$494.1M	$441.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.00	−0.050%	$24.2M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.01	−0.044%	$27.0M	$128.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.94	−0.099%	$95.5M	$404.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.92	−0.117%	$48.7M	$29.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.98	−0.062%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.97	−0.075%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.89	−0.142%	$357K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.90	−0.131%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.82	−0.201%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.95	−0.092%	$6.3M	$10.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.02	−0.032%	$8.6M	$35.2M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.01	−0.041%	$6.5M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.86	−0.168%	—	$219.8M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0132%	1h	119.01	−0.040%	$26.7M	$24.8M	50x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.03	−0.020%	$1.8M	$4.6M	20x	as long as short
Aftermath Perps SOLUSD	+0.0164%	1h	118.93	−0.109%	$25K	$50K	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	118.92	−0.118%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	118.66	−0.335%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	118.86	−0.164%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.90	−0.134%	$51.9M	$77.5M	125x	as long as short