Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h +0.004%

Price spread now: Coinbase International against Phemex+0.020%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now +0.020%, 7d avg +0.013%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.052%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	117.56	0.0100	pay 0.0100% / 8h	6h 04m	$45.8M	$100.8M	50x
Short	Coinbase International SOL-PERP-INTX	117.58	0.0072	get 0.0009% / 1h	4m 04s	$8.0M	$405.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$5.88
Price spread: +0.020% → +0.013%: $0.72
Slippage, 4 orders: −$5.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.31
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Coinbase International: live order book, 5 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, 5 min ago	0.43 bp	7.8 bp −$8	8.9 bp −$89	15.3 bp −$1,533	doesn't fit
Sell Coinbase International live order book, 5 min ago	0.04 bp	5.5 bp −$5	7.4 bp −$74	14.7 bp −$1,467	104.1 bp −$52.1K

SOL on 54 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
Hotstuff SOL-PERP	−0.0080%	1h	117.47	−0.081%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0060%	1h	117.50	−0.052%	—	$607K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.56	+0.003%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.53	−0.026%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.58	+0.020%	$1.4M	$20.4M	3.1x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.65	+0.074%	$1.9M	$4.9M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0021%	1h	117.56	−0.001%	$26.4M	$25.4M	50x	as long as short
Derive SOL-PERP	+0.0021%	1h	117.48	−0.071%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0037%	8h	117.48	−0.071%	$228.3M	$45.4M	75x	as long as short
Hibachi SOL/USDT-P	+0.0048%	1h	117.57	+0.009%	$100K	$690K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.53	−0.027%	$31.5M	$98.6M	100x	as long as short
Gate SOL_USDT	+0.0072%	8h	117.53	−0.026%	$847.6M	$667.5M	100x	as long as short
Coinbase International SOL-PERP-INTXshort	+0.0072%	1h	117.58	+0.020%	$8.0M	$405.5M	50x
BingX SOL-USDT	+0.0080%	8h	117.56	+0.002%	—	$369.5M	—	as long as short
ApeX Omni SOLUSDT	+0.0083%	1h	117.49	−0.058%	$1.5M	$6.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.54	−0.019%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.55	−0.008%	$13.1M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.54	−0.020%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.63	+0.060%	$100K	$162K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.52	−0.036%	$344K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.60	+0.033%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.55	−0.009%	$67K	$846K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.51	−0.043%	$5.8M	$40.3M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.53	−0.023%	$176.4M	$178.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.60	+0.037%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.57	+0.009%	$969.3M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.57	+0.009%	$820.6M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.58	+0.017%	$366.6M	$1.65B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.42	−0.119%	$238K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.60	+0.037%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.56	0.000%	$423.9M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.55	−0.006%	$130.5M	$211.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.54	−0.020%	$487.2M	$436.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.57	+0.009%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.52	−0.030%	$24.3M	$120.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.48	−0.064%	$94.4M	$404.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.36	−0.172%	$48.1M	$28.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.48	−0.068%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.56	0.000%	$354K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.54	−0.020%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.55	−0.010%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.56	+0.002%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.52	−0.034%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	117.56	long leg	$45.8M	$100.8M	50x
Bulk SOL-USD	+0.0100%	1h	117.46	−0.089%	$134.5M	$14.2M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.52	−0.034%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.49	−0.057%	$8.1M	$35.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.55	−0.011%	—	$222.7M	500x	as long as short
Hyperliquid SOL	+0.0120%	1h	117.66	+0.085%	$717.6M	$394.9M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.55	−0.007%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.45	−0.094%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.54	−0.016%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0352%	1h	117.57	+0.013%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.62	+0.048%	$128K	$3.8M	8.3x	as long as short