SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0194%/8h= −21.2% APRnext payment −$1.94 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against Phemex−0.026%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.026%, 7d avg +0.002%

Together, before fees+0.136%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.027% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.022% in total (about -1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.94 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.30	0.0100	pay 0.0100% / 8h	3h 01m	$45.3M	$103.5M	50x
Short	Bybit SOLUSDT	116.27	−0.0094	pay 0.0094% / 8h	3h 01m	$746.7M	$1.40B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$40.71
Price spread: −0.026% → +0.002%: −$2.73
Slippage, 4 orders: −$5.72
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$72.17
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	0.43 bp	8.7 bp −$9	11.2 bp −$112	18.8 bp −$1,882	doesn't fit
Sell Bybit live order book, 3 min ago	0.43 bp	5.9 bp −$6	7.6 bp −$76	13.4 bp −$1,338	28.7 bp −$14.3K

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	−0.0224%	1h	116.50	+0.170%	$105K	$704K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0194%	1h	116.30	0.000%	$31.6M	$103.2M	100x	as long as short
Vest SOL-PERP	−0.0113%	1h	116.28	−0.018%	—	$601K	20x	as long as short
Bybit SOLUSDTshort	−0.0094%	8h	116.27	−0.026%	$746.7M	$1.40B	100x
Hotstuff SOL-PERP	−0.0080%	1h	116.32	+0.016%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0025%	1h	116.21	−0.080%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.27	−0.022%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.35	+0.045%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0011%	1h	116.31	+0.008%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.29	−0.008%	$7.6M	$404.4M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0064%	1h	116.35	+0.043%	$99K	$175K	20x	as long as short
Bullet SOL-USD	+0.0069%	1h	116.27	−0.026%	$146K	$1.6M	20x	as long as short
Bitget SOLUSDT	+0.0085%	8h	116.31	+0.004%	$480.7M	$448.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.28	−0.015%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.31	+0.013%	$13.1M	$60.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.31	+0.006%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.29	−0.008%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.28	−0.017%	$60K	$899K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.33	+0.026%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.32	+0.018%	$5.3M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.37	+0.060%	$700.3M	$395.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.31	+0.009%	$174.2M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.35	+0.041%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.33	+0.027%	$970.1M	$3.84B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.33	+0.026%	$366.6M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.34	+0.034%	$214K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.36	+0.054%	$917K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.27	−0.030%	$131.6M	$15.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.30	0.000%	$858.0M	$672.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.31	+0.009%	$373.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.30	+0.003%	$122.9M	$226.8M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.32	+0.017%	—	$365.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.27	−0.026%	$23.0M	$39.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.35	+0.047%	$25.1M	$114.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.34	+0.039%	$93.4M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.43	+0.112%	$47.6M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.29	−0.009%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.33	+0.026%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.28	−0.017%	$320K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.27	−0.027%	$25K	$32K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.29	−0.012%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.28	−0.017%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.30	0.000%	$225.4M	$48.3M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.30	long leg	$45.3M	$103.5M	50x
Extended SOL-USD	+0.0104%	1h	116.28	−0.018%	$8.3M	$37.9M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.50	+0.172%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.35	+0.043%	—	$236.0M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.57	+0.232%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0152%	1h	116.35	+0.040%	$26.2M	$23.1M	50x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.27	−0.029%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.24	−0.052%	$51.8M	$67.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0179%	1h	116.28	−0.019%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.29	−0.009%	$116K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.41	+0.091%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0564%	1h	116.43	+0.109%	$25K	$52K	20x	as long as short