Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Backpack against Ondo Perps+0.137%7-day average +0.134% · you sell dearer than you buy

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

Long on Ondo Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 7 days−0.138%−$14 · spread now +0.137%, 7d avg +0.134%

Together, before fees−0.133%+ Points / potential airdropOndo Perps: Active · farm board−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps SOL-USD.P	116.66	0.0100	pay 0.0013% / 1h	59m 30s	$231K	$836K	10x
Short	Backpack SOL_USDC_PERP	116.82	0.0100	get 0.0013% / 1h	59m 30s	$23.2M	$39.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Ondo Perps. 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 Ondo PerpsbpFee BackpackbpOrdersPrice spread, now +0.137%Rate

Funding earned: $0
Price spread: +0.137% → +0.134%: $0.35
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$14.65
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Backpack: live order book, 5 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Backpack live order book, 5 min ago	0.43 bp	5.4 bp −$5	7.3 bp −$73	10.4 bp −$1,036	doesn't fit

Ondo Perps: 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
Hibachi SOL/USDT-P	−0.0176%	1h	116.98	+0.274%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0099%	1h	116.70	+0.035%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.93	+0.231%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.68	+0.015%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.97	+0.261%	$1.4M	$18.8M	3.1x	as long as short
dYdX SOL-USD	+0.0003%	1h	116.84	+0.152%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0016%	1h	116.88	+0.190%	$1.9M	$2.8M	13x	as long as short
Polymarket Perps SOL-USD	+0.0037%	1h	116.69	+0.026%	$321K	$2.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.90	+0.206%	$7.5M	$404.6M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.89	+0.195%	$31.0M	$99.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0093%	8h	116.96	+0.258%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.79	+0.109%	$13.1M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.75	+0.076%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.77	+0.094%	$99K	$173K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.95	+0.247%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.77	+0.094%	$47K	$877K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.90	+0.206%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.69	+0.027%	$5.4M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.81	+0.125%	$705.4M	$394.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.76	+0.085%	$174.8M	$182.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.82	+0.140%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.73	+0.060%	$972.5M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.66	−0.004%	$779.6M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.70	+0.034%	$369.6M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.Plong	+0.0100%	1h	116.66	long leg	$231K	$836K	10x
Arcus SOL-USD	+0.0100%	1h	116.84	+0.159%	$926K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	+0.032%	$134.0M	$22.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.77	+0.094%	$843.8M	$653.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	+0.026%	$369.8M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.68	+0.017%	$129.1M	$221.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.65	−0.009%	$479.1M	$441.7M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.79	+0.109%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	116.82	+0.137%	$23.2M	$39.0M	50x
Variational Omni SOL	+0.0100%	8h	116.91	+0.218%	$24.6M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.91	+0.216%	$93.9M	$398.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.84	+0.154%	$47.8M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.87	+0.180%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.92	+0.223%	$1.3M	$12.9M	30x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.67	+0.010%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.94	+0.237%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.87	+0.177%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.88	+0.189%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.94	+0.244%	$226.8M	$47.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.84	+0.154%	$45.7M	$102.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.79	+0.108%	$8.3M	$37.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.93	+0.230%	—	$231.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.72	+0.051%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.99	+0.283%	$6.5M	$13.3M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0164%	1h	117.01	+0.297%	$26.4M	$23.5M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.64	−0.016%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.95	+0.249%	$52.1M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.94	+0.244%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.71	+0.042%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0510%	1h	116.83	+0.143%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.89	+0.201%	$1.9M	$4.8M	20x	as long as short