Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h +0.014%

Price spread now: GMX against KuCoin−0.024%7-day average +0.030% · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.024%, 7d avg +0.030%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GMX is 0.055% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.030%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SOLUSDTM	119.25	0.0100	pay 0.0100% / 8h	1h 05m	$139.6M	$202.3M	75x
Short	GMX SOL/USD [SOL-USDC]	119.22	L +0.0169% / S −0.0072%	get 0.0009% / 1h	5m 09s	$3.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$5.98
Price spread: −0.024% → +0.030%: −$5.45
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$35.44
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; GMX: 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, 4 min ago	0.08 bp	8.2 bp −$8	10.7 bp −$107	14.4 bp −$1,436	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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
Bluefin SOL-PERP	−0.0208%	1h	119.23	−0.018%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.17	−0.061%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0063%	1h	119.16	−0.077%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.17	−0.067%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.23	−0.017%	$115K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.13	−0.096%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.25	+0.005%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.21	−0.031%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.23	−0.015%	$6.5M	$13.6M	25x	as long as short
Orderly PERP_SOL_USDC	+0.0070%	8h	119.25	+0.002%	$1.1M	$5.9M	100x	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	+0.0072%	1h	119.23	−0.015%	$104K	$156K	20x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	119.06	−0.154%	$119K	$607K	20x	as long as short
Aftermath Perps SOLUSD	+0.0077%	1h	119.08	−0.142%	$24K	$47K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.24	−0.006%	—	$374.8M	—	as long as short
HTX SOL-USDT	+0.0082%	8h	119.19	−0.047%	$232.0M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	119.22	−0.023%	$870.4M	$689.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.23	−0.013%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.21	−0.034%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.21	−0.032%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.18	−0.059%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.18	−0.057%	$45K	$801K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.17	−0.065%	$6.0M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.32	+0.060%	$718.3M	$408.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.24	−0.004%	$178.6M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.19	−0.048%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.22	−0.023%	$982.1M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.24	−0.007%	$829.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.23	−0.015%	$372.4M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.04	−0.174%	$233K	$888K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.24	−0.003%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.85	−0.334%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.23	−0.015%	$452.3M	$1.13B	300x	as long as short
KuCoin SOLUSDTMlong	+0.0100%	8h	119.25	long leg	$139.6M	$202.3M	75x
Bitget SOLUSDT	+0.0100%	8h	119.22	−0.020%	$496.5M	$456.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.23	−0.015%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.17	−0.066%	$27.5M	$128.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.89	−0.299%	$95.5M	$400.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.99	−0.216%	$48.7M	$31.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.00	−0.208%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.05	−0.166%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.22	−0.023%	$367K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.22	−0.022%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.23	−0.018%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.24	−0.007%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.22	−0.023%	$46.5M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.21	−0.030%	$8.7M	$36.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0109%	1h	119.30	+0.042%	$26.7M	$27.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.28	+0.023%	$8.3M	$416.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.22	−0.026%	—	$224.8M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.25	+0.003%	$32.6M	$97.0M	100x	as long as short
GMX SOL/USD [SOL-USDC]short	L +0.0169% / S −0.0072%	1h	119.22	−0.024%	$3.7M	—	200x
Reya SOLRUSDPERP	+0.0182%	1h	119.22	−0.023%	$1.1M	$551K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.25	+0.004%	$1.7M	$5.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.02	−0.191%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.21	−0.032%	$52.0M	$84.2M	125x	as long as short