Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:12 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.011%

Price spread now: Deribit against Perpl−0.079%7-day average +0.050% · you buy dearer than you sell

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

Long on Perpl Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.197%+$20 on $10k

Price spread, last 3 days (all we have)+0.148%+$15 · spread now −0.079%, 7d avg +0.050%

Together, before fees+0.345%+ Points / potential airdropPerpl: Active · farm board+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.129% cheaper against Perpl than usual: you would sell low and buy high (spread −0.079% now, against its 7-day average of +0.050%). If the spread goes back, that is −$13 on $10k: about 21 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.197% in total) that is about 4.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	119.38	0	get 0.0000% / 43m	32m 09s	$125K	$3.9M	8.3x
Short	Deribit SOL_USDC-PERPETUAL	119.28	0.0020	get 0.0003% / 1h	10m 09s	$26.7M	$24.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Perpl. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PerplbpFee DeribitbpOrdersPrice spread, now −0.079%Rate

Funding earned: $4.2
Price spread: −0.079% → +0.050%: −$12.87
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$29.47
Costs to cover: 0.208%
Break-even: 56.1 days

Slippage unknown: Perpl: no order-book sample; Deribit: live order book, 4 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 Perpl no order-book sample	—	—	—	—	—
Sell Deribit live order book, 4 min ago	0.04 bp	5.7 bp −$6	6.9 bp −$69	20.9 bp −$2,089	doesn't fit

Perpl: 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
Derive SOL-PERP	−0.0082%	1h	119.26	−0.102%	$2.0M	$2.7M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.36	−0.014%	$933	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	119.30	−0.063%	—	$608K	20x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	119.30	−0.067%	$109K	$670K	20x	as long as short
HTX SOL-USDT	−0.0027%	8h	119.19	−0.160%	$231.9M	$43.9M	75x	as long as short
dYdX SOL-USD	−0.0018%	1h	119.36	−0.014%	$4.9M	$25.5M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.25	−0.106%	$32.4M	$97.0M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.39	+0.013%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.40	+0.017%	$1.2M	$20.0M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	119.38	long leg	$125K	$3.9M	8.3x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUALshort	+0.0020%	1h	119.28	−0.079%	$26.7M	$24.8M	50x
01 Exchange SOLUSD	+0.0032%	1h	119.39	+0.011%	$104K	$160K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.27	−0.091%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.35	−0.023%	$1.1M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.29	−0.071%	$8.1M	$410.3M	50x	as long as short
Bluefin SOL-PERP	+0.0092%	1h	119.34	−0.033%	$37K	$17K	25x	as long as short
Gate SOL_USDT	+0.0094%	8h	119.31	−0.056%	$856.9M	$672.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.25	−0.104%	$13.7M	$57.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.24	−0.115%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.30	−0.063%	$350K	$253K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.37	−0.009%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.33	−0.039%	$46K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.39	+0.012%	$6.2M	$40.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.43	+0.044%	$731.5M	$399.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.38	+0.003%	$180.4M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.41	+0.028%	$12.3M	$125.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.29	−0.075%	$982.2M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.35	−0.023%	$829.4M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.29	−0.073%	$373.0M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.29	−0.073%	$234K	$833K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.29	−0.075%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.519%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.28	−0.081%	$433.7M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.25	−0.104%	$139.1M	$203.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.31	−0.054%	$495.2M	$438.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.32	−0.048%	$24.1M	$36.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.19	−0.161%	$24.9M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.20	−0.148%	$95.7M	$404.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	−0.204%	$48.8M	$29.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.26	−0.098%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.20	−0.148%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.39	+0.011%	$361K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.38	+0.002%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.36	−0.012%	$194K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.24	−0.115%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.32	−0.048%	$46.7M	$99.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.26	−0.094%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.28	−0.081%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.17	−0.175%	—	$225.6M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.35	−0.027%	$1.8M	$4.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.307%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	119.37	−0.002%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.15	−0.190%	$51.9M	$74.3M	125x	as long as short
Aftermath Perps SOLUSD	+0.0222%	1h	119.24	−0.113%	$25K	$51K	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	119.40	+0.017%	$3.7M	—	200x	as long as short