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 −0.007%

Price spread now: BingX against Phemex−0.206%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)+0.538%+$54 · spread now −0.206%, 7d avg −0.006%

Together, before fees+0.553%+$55 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: BingX is 0.200% cheaper against Phemex than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.97	0.0100	pay 0.0100% / 8h	3h 50m	$45.8M	$102.6M	50x
Short	BingX SOL-USDT	116.73	0.0100	get 0.0100% / 8h	3h 50m	—	$365.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phemex. 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 PhemexbpFee BingXbpOrdersPrice spread, now −0.206%Rate

Funding earned: $0
Price spread: −0.206% → −0.006%: −$19.96
Slippage, 4 orders: −$3.17
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$45.13
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; BingX: live order book, 4 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 Phemex live order book, 4 min ago	0.43 bp	6.4 bp −$6	6.8 bp −$68	17.1 bp −$1,710	doesn't fit
Sell BingX live order book, 4 min ago	0.81 bp	5.8 bp −$6	5.8 bp −$58	7.7 bp −$767	10.9 bp −$5,474

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	−0.0193%	1h	116.96	−0.008%	$31.2M	$100.7M	100x	as long as short
Hibachi SOL/USDT-P	−0.0160%	1h	117.03	+0.053%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0093%	1h	116.97	0.000%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.98	+0.005%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.03	+0.051%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.02	+0.040%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0004%	1h	116.81	−0.136%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.93	−0.037%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	117.00	+0.022%	$7.4M	$405.4M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	117.00	+0.024%	$1.0M	$5.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SOL	+0.0096%	1h	116.81	−0.138%	$13.1M	$59.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.88	−0.080%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.98	+0.009%	$99K	$174K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.98	+0.011%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.72	−0.214%	$50K	$882K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.80	−0.145%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.92	−0.040%	$5.5M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.98	+0.009%	$706.3M	$393.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.98	+0.006%	$175.1M	$182.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.84	−0.115%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.82	−0.131%	$974.8M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.66	−0.266%	$771.7M	$1.37B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.73	−0.205%	$368.6M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.90	−0.060%	$230K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.82	−0.130%	$926K	$8.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.84	−0.111%	$851.0M	$656.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.75	−0.188%	$365.8M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.83	−0.124%	$129.2M	$222.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.75	−0.192%	$480.0M	$442.6M	100x	as long as short
BingX SOL-USDTshort	+0.0100%	8h	116.73	−0.206%	—	$365.7M	—
Backpack SOL_USDC_PERP	+0.0100%	1h	116.96	−0.009%	$23.2M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.95	−0.013%	$24.6M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.88	−0.076%	$93.8M	$398.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.05	+0.068%	$47.8M	$30.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.99	+0.021%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.99	+0.017%	$1.3M	$12.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.99	+0.017%	$323K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.03	+0.050%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.98	+0.013%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.95	−0.019%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.95	−0.017%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.00	+0.026%	$226.8M	$47.7M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.97	long leg	$45.8M	$102.6M	50x
Bulk SOL-USD	+0.0100%	1h	116.90	−0.060%	$134.0M	$22.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.69	−0.238%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	−0.214%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	117.02	+0.043%	—	$231.4M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0134%	1h	117.04	+0.061%	$26.4M	$23.2M	50x	as long as short
Phoenix SOL	+0.0151%	1h	117.05	+0.068%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	117.00	+0.025%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.00	+0.026%	$52.0M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	117.03	+0.047%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	117.03	+0.054%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0536%	1h	116.93	−0.031%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.87	−0.081%	$1.9M	$4.8M	20x	as long as short