Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against MEXC−0.060%7-day average +0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$140.137% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days−0.819%−$82 · spread now −0.060%, 7d avg +0.106%

Together, before fees−0.741%−$74 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 0.166% cheaper against MEXC than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SOL_USDT	116.32	0.0100	pay 0.0100% / 8h	7h 58m	$372.1M	$1.05B	300x
Short	Backpack SOL_USDC_PERP	116.25	0.0100	get 0.0013% / 1h	58m 30s	$22.9M	$35.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → +0.106%: −$16.58
Slippage, 4 orders: −$1.72
Fee MEXC: 1 bp × 2 orders: −$2
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$30.3
Costs to cover: 0.137%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Backpack: live order book, 1 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 MEXC live order book, 6 min ago	0.43 bp	1.4 bp −$1	1.4 bp −$14	2.8 bp −$281	5.3 bp −$2,636
Sell Backpack live order book, 1 min ago	0.43 bp	5.4 bp −$5	6.8 bp −$68	9.9 bp −$994	doesn't fit

SOL on 54 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
Bybit SOLUSDT	−0.0110%	8h	116.24	−0.066%	$731.5M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.37	+0.046%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.27	−0.043%	$32.3M	$106.8M	100x	as long as short
Vest SOL-PERP	−0.0020%	1h	116.27	−0.045%	—	$636K	20x	as long as short
Derive SOL-PERP	−0.0008%	1h	116.17	−0.125%	$1.8M	$3.0M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.27	−0.047%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.33	+0.012%	$4.3M	$23.5M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.30	−0.014%	$1.4M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.24	−0.067%	$99K	$3.4M	8.3x	as long as short
Bitget SOLUSDT	+0.0024%	8h	116.33	+0.011%	$480.2M	$456.5M	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0024%	1h	116.24	−0.067%	$102K	$678K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.25	−0.056%	$7.7M	$396.8M	50x	as long as short
Aster SOLUSDT	+0.0053%	8h	116.31	−0.006%	$176.8M	$168.6M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0070%	8h	116.25	−0.064%	$1.0M	$6.1M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.32	+0.003%	$13.1M	$55.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.32	−0.003%	$2.1M	$14.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.19	−0.113%	$350K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0096%	8h	116.37	+0.045%	$1.0M	$554K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.31	−0.006%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.42	+0.086%	$696.0M	$408.7M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.36	+0.036%	$15.7M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.32	−0.001%	$962.7M	$3.86B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.28	−0.034%	$366.4M	$1.76B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.29	−0.026%	$217K	$855K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.35	+0.023%	$919K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.33	+0.006%	$125.6M	$25.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.34	+0.017%	$842.6M	$603.4M	100x	as long as short
MEXC SOL_USDTlong	+0.0100%	8h	116.32	long leg	$372.1M	$1.05B	300x
KuCoin SOLUSDTM	+0.0100%	8h	116.31	−0.006%	$129.4M	$236.7M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.29	−0.027%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	116.25	−0.060%	$22.9M	$35.8M	50x
Variational Omni SOL	+0.0100%	8h	116.15	−0.147%	$24.8M	$107.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.16	−0.135%	$93.3M	$405.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.22	−0.085%	$47.6M	$29.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.19	−0.107%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.29	−0.026%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.24	−0.069%	$318K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.27	−0.039%	$281K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.25	−0.059%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.24	−0.069%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.23	−0.077%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.24	−0.067%	$225.1M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.23	−0.077%	$45.2M	$104.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.31	−0.006%	$8.2M	$36.7M	50x	as long as short
01 Exchange SOLUSD	+0.0112%	1h	116.39	+0.060%	$100K	$181K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.27	−0.047%	—	$232.5M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.26	−0.052%	$6.5M	$13.3M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0157%	1h	116.31	−0.012%	$26.2M	$21.9M	50x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	+0.017%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.20	−0.103%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.24	−0.069%	$52.0M	$64.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.26	−0.052%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0428%	1h	116.27	−0.039%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.39	+0.064%	$2.1M	$4.7M	20x	as long as short