Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Phemex+0.009%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), 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	117.62	0.0100	pay 0.0100% / 8h	6h 41m	$45.8M	$101.7M	50x
Short	gTrade (Gains Network) SOL/USD	117.63	L 0.0000% / S +0.0004%	pay 0.0001% / 1h	41m 51s	$53K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.009%Rate

Funding earned: −$21.86
Price spread: +0.009% → 0.000%: $0.85
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$43.01
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; gTrade (Gains Network): no order-book sample. 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 Phemex live order book, 2 min ago	1.27 bp	9.7 bp −$10	9.8 bp −$98	17.6 bp −$1,760	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
ApeX Omni SOLUSDT	−0.0171%	1h	118.09	+0.400%	$1.5M	$6.1M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.65	+0.025%	$920	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0080%	1h	117.98	+0.309%	$92K	$707K	20x	as long as short
Vest SOL-PERP	−0.0077%	1h	117.64	+0.016%	—	$610K	20x	as long as short
HTX SOL-USDT	−0.0038%	8h	117.51	−0.092%	$228.5M	$45.1M	75x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.53	−0.079%	$2.0M	$2.7M	13x	as long as short
gTrade (Gains Network) SOL/USDshort	L 0.0000% / S +0.0004%	1h	117.63	+0.009%	$53K	—	150x
dYdX SOL-USD	0.0000%	1h	117.68	+0.052%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.67	+0.043%	$1.5M	$21.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.65	+0.023%	$128K	$4.0M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SOL_USDT	+0.0002%	8h	117.65	+0.026%	$850.5M	$654.6M	100x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.62	−0.002%	$2.0M	$4.7M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0035%	1h	117.65	+0.023%	$26.4M	$25.4M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.61	−0.012%	$31.5M	$98.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.62	−0.003%	$7.9M	$411.2M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.60	−0.020%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0084%	8h	117.61	−0.011%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0088%	1h	117.67	+0.043%	$102K	$162K	20x	as long as short
Lighter SOL	+0.0096%	1h	117.61	−0.013%	$13.0M	$59.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.61	−0.009%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.60	−0.017%	$345K	$264K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.64	+0.019%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.60	−0.017%	$54K	$835K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.63	+0.004%	$5.7M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.72	+0.085%	$717.2M	$403.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.64	+0.015%	$176.7M	$180.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.66	+0.032%	$14.0M	$130.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.62	0.000%	$975.8M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.59	−0.024%	$820.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.59	−0.026%	$368.5M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.64	+0.017%	$239K	$893K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.66	+0.036%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.63	+0.009%	$421.5M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.66	+0.030%	$133.4M	$208.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.54	−0.065%	$487.9M	$444.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.64	+0.017%	$23.7M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.01	+0.329%	$24.4M	$129.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.06	+0.376%	$94.8M	$404.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.90	+0.237%	$48.3M	$29.5M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.97	+0.298%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.63	+0.009%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.61	−0.009%	$199K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.58	−0.035%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.60	−0.019%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.60	−0.017%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	117.62	long leg	$45.8M	$101.7M	50x
Bulk SOL-USD	+0.0100%	1h	118.07	+0.383%	$135.9M	$13.3M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.96	+0.289%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.59	−0.025%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.66	+0.031%	—	$228.4M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.63	+0.007%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.04	+0.357%	$52.1M	$74.3M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	118.20	+0.493%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0168%	1h	117.62	−0.003%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0309%	1h	117.95	+0.284%	$25K	$51K	20x	as long as short