Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Phemex against MEXC+0.035%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.035%, 7d avg −0.002%

Together, before fees−0.144%−$14 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: Phemex is 0.036% dearer against MEXC than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SOL_USDT	115.61	0.0100	pay 0.0100% / 8h	2h 28m	$356.7M	$1.08B	300x
Short	Phemex SOLUSDT	115.65	0.0100	get 0.0100% / 8h	2h 28m	$45.0M	$104.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.002%: $3.64
Slippage, 4 orders: −$8.23
Fee MEXC: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.59
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Phemex: live order book, 6 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, 1 min ago	0.43 bp	1.4 bp −$1	1.5 bp −$15	3.0 bp −$297	7.5 bp −$3,769
Sell Phemex live order book, 6 min ago	0.43 bp	12.5 bp −$13	13.5 bp −$135	21.1 bp −$2,114	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
Kraken Futures PF_SOLUSD	−0.0242%	1h	115.63	+0.017%	$31.6M	$103.2M	100x	as long as short
Hibachi SOL/USDT-P	−0.0184%	1h	115.87	+0.226%	$104K	$693K	20x	as long as short
BingX SOL-USDC	−0.0116%	8h	115.60	−0.006%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0115%	8h	115.56	−0.043%	$738.5M	$1.42B	100x	as long as short
Vest SOL-PERP	−0.0088%	1h	115.65	+0.034%	—	$625K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.18	+0.496%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0073%	1h	115.53	−0.068%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.61	0.000%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.66	+0.048%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.67	+0.050%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0012%	1h	115.72	+0.096%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0016%	1h	115.65	+0.035%	$98K	$177K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0027%	1h	115.67	+0.053%	$26.2M	$22.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.66	+0.039%	$7.8M	$402.5M	50x	as long as short
Bitget SOLUSDT	+0.0067%	8h	115.58	−0.030%	$478.4M	$455.9M	100x	as long as short
Bullet SOL-USD	+0.0089%	1h	115.60	−0.006%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	115.63	+0.020%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.63	+0.017%	$12.9M	$61.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.62	+0.009%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.63	+0.013%	$348K	$247K	20x	as long as short
Aster SOLUSDT	+0.0099%	8h	115.63	+0.017%	$173.4M	$185.1M	100x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.61	0.000%	$62K	$911K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	115.69	+0.066%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.65	+0.034%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.73	+0.104%	$685.1M	$400.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	115.71	+0.089%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.60	−0.008%	$961.2M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.61	0.000%	$360.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.64	+0.026%	$215K	$869K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.68	+0.061%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.84	+0.200%	$125.6M	$19.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.62	+0.009%	$838.3M	$667.9M	100x	as long as short
MEXC SOL_USDTlong	+0.0100%	8h	115.61	long leg	$356.7M	$1.08B	300x
KuCoin SOLUSDTM	+0.0100%	8h	115.60	−0.010%	$124.3M	$229.5M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.65	+0.035%	$22.8M	$39.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.67	+0.049%	$24.7M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.77	+0.143%	$92.9M	$406.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.76	+0.129%	$47.4M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.81	+0.174%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.83	+0.190%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.60	−0.009%	$317K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.61	+0.003%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.63	+0.013%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.62	+0.009%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.60	−0.009%	$223.9M	$50.0M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	115.65	+0.035%	$45.0M	$104.6M	50x
Extended SOL-USD	+0.0104%	1h	115.56	−0.045%	$7.9M	$38.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	115.62	+0.011%	—	$239.6M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.813%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	115.87	+0.225%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.59	−0.020%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.73	+0.104%	$51.5M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.61	−0.002%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.71	+0.089%	$1.9M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0598%	1h	115.86	+0.220%	$25K	$53K	20x	as long as short