Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.040%

Price spread now: dYdX against Phemex+0.026%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 4 days (all we have)+0.195%+$19 · spread now +0.026%, 7d avg +0.008%

Together, before fees+0.107%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.60	0.0100	pay 0.0100% / 8h	4h 20m	$45.6M	$102.1M	50x
Short	dYdX SOL-USD	116.63	0.0001	get 0.0000% / 1h	20m 42s	$4.4M	$24.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$20.8
Price spread: +0.026% → +0.008%: $1.76
Slippage, 4 orders: −$17.36
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$58.39
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; dYdX: 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	6.7 bp −$7	7.9 bp −$79	15.3 bp −$1,532	doesn't fit
Sell dYdX live order book, 3 min ago	5.14 bp	10.1 bp −$10	16.6 bp −$166	22.9 bp −$2,292	60.8 bp −$30.4K

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	−0.0128%	1h	116.69	+0.079%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.56	−0.038%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.76	+0.139%	$913	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.59	−0.009%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.65	+0.043%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USDshort	+0.0001%	1h	116.63	+0.026%	$4.4M	$24.2M	20x
Derive SOL-PERP	+0.0031%	1h	116.52	−0.067%	$1.9M	$2.9M	13x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.60	0.000%	$99K	$172K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.61	+0.007%	$7.4M	$404.5M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.62	+0.020%	$31.0M	$100.1M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0091%	8h	116.59	−0.004%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.62	+0.018%	$13.0M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.61	+0.009%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.60	+0.003%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.54	−0.051%	$51K	$866K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.63	+0.027%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.58	−0.018%	$5.3M	$39.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.72	+0.103%	$704.6M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.60	0.000%	$174.7M	$182.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.65	+0.045%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.63	+0.026%	$969.5M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.57	−0.026%	$781.9M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.63	+0.026%	$369.2M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.74	+0.120%	$231K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.59	−0.012%	$927K	$9.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.62	+0.017%	$841.8M	$662.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.61	+0.009%	$387.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.59	−0.007%	$127.9M	$219.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.59	−0.007%	$479.1M	$441.1M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.61	+0.007%	—	$365.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.58	−0.017%	$23.4M	$38.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.50	−0.083%	$24.4M	$113.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.67	+0.064%	$93.7M	$398.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.70	+0.087%	$47.7M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.81	+0.180%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.77	+0.146%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.57	−0.026%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.57	−0.029%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.56	−0.030%	$25K	$30K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.55	−0.041%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.61	+0.009%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.54	−0.051%	$226.2M	$47.1M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.60	long leg	$45.6M	$102.1M	50x
Bulk SOL-USD	+0.0100%	1h	116.70	+0.086%	$133.2M	$21.0M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.56	−0.031%	$8.2M	$37.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.60	−0.004%	—	$231.0M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.73	+0.111%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.77	+0.146%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0138%	1h	116.67	+0.057%	$26.3M	$25.4M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.56	−0.033%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.62	+0.017%	$51.7M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0171%	1h	116.58	−0.013%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.61	+0.010%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0528%	1h	116.70	+0.086%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.64	+0.034%	$1.9M	$4.9M	20x	as long as short