Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= +0.1% APRpaid last 24h +0.003%

Price spread now: Backpack against Paradex−0.079%7-day average +0.123% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$200.196% of the position

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.079%, 7d avg +0.123%

Together, before fees+0.016%+ Points / potential airdropParadex: Active · farm board+$2 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 0.202% cheaper against Paradex than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex SOL-USD-PERP	116.59	0.0100	pay 0.0100% / 8h	2h 17m	$1.0M	$550K	50x
Short	Backpack SOL_USDC_PERP	116.50	0.0100	get 0.0013% / 1h	17m 48s	$23.0M	$38.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now −0.079%Rate

Funding earned: $0.1
Price spread: −0.079% → +0.123%: −$20.16
Slippage, 4 orders: −$5.59
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$39.65
Costs to cover: 0.196%
Break-even: 2825.7 days

Slippage from Paradex: live order book, 1 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 Paradex live order book, 1 min ago	1.72 bp	3.7 bp −$4	9.9 bp −$99	doesn't fit	doesn't fit
Sell Backpack live order book, 1 min ago	0.43 bp	6.7 bp −$7	8.6 bp −$86	11.6 bp −$1,162	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	−0.0240%	1h	116.49	−0.090%	$31.9M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0136%	1h	116.29	−0.256%	$104K	$693K	20x	as long as short
BingX SOL-USDC	−0.0112%	8h	116.48	−0.094%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0107%	8h	116.53	−0.052%	$741.1M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.46	−0.111%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0056%	1h	116.44	−0.131%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0015%	1h	116.41	−0.156%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	−0.092%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.50	−0.077%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.48	−0.094%	$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	+0.0009%	1h	116.49	−0.090%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.49	−0.088%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.49	−0.084%	$7.7M	$405.4M	50x	as long as short
Bitget SOLUSDT	+0.0064%	8h	116.54	−0.046%	$479.6M	$460.2M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	116.50	−0.082%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.48	−0.096%	$13.0M	$61.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.50	−0.081%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.48	−0.098%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.41	−0.156%	$64K	$912K	20x	as long as short
Paradex SOL-USD-PERPlong	+0.0100%	8h	116.59	long leg	$1.0M	$550K	50x
Nado SOL-PERP	+0.0100%	1h	116.46	−0.116%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.58	−0.010%	$696.5M	$406.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.53	−0.053%	$176.2M	$176.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.54	−0.043%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.52	−0.062%	$972.0M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.56	−0.028%	$364.2M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.40	−0.165%	$216K	$878K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.60	+0.003%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.85	−0.635%	$123.9M	$22.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.49	−0.088%	$842.2M	$672.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.57	−0.019%	$355.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.48	−0.097%	$126.5M	$230.4M	75x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	116.50	−0.079%	$23.0M	$38.0M	50x
Variational Omni SOL	+0.0100%	8h	115.99	−0.512%	$24.8M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.07	−0.452%	$93.2M	$407.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.84	−0.645%	$47.4M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.75	−0.720%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.23	−0.311%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.46	−0.113%	$320K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.48	−0.094%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.46	−0.112%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.49	−0.090%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.48	−0.096%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.34	−0.216%	$225.3M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.46	−0.113%	$45.3M	$105.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.42	−0.145%	$8.0M	$39.3M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0105%	1h	116.52	−0.061%	$26.3M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.49	−0.088%	—	$239.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.800%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.37	−0.191%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	116.46	−0.114%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.44	−0.131%	$51.7M	$68.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.47	−0.101%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.53	−0.055%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0568%	1h	116.10	−0.421%	$25K	$55K	20x	as long as short