Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h −0.001%

Price spread now: Phemex against SoDEX+0.026%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.026%, 7d avg +0.014%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SOL-USD	116.65	0.0074	pay 0.0009% / 1h	50m 05s	$6.1M	$10.9M	20x
Short	Phemex SOLUSDT	116.68	0.0100	get 0.0100% / 8h	1h 50m	$45.4M	$105.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.026%Rate

Funding earned: $5.47
Price spread: +0.026% → +0.014%: $1.21
Slippage, 4 orders: −$2.62
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$15.94
Costs to cover: 0.226%
Break-even: 27.4 days

Slippage from SoDEX: live order book, 4 min ago; Phemex: 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 SoDEX live order book, 4 min ago	0.43 bp	4.4 bp −$4	5.0 bp −$50	15.0 bp −$1,499	doesn't fit
Sell Phemex live order book, 4 min ago	0.43 bp	6.4 bp −$6	8.3 bp −$83	17.9 bp −$1,789	doesn't fit

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
Bybit SOLUSDT	−0.0108%	8h	116.55	−0.087%	$740.6M	$1.44B	100x	as long as short
Hibachi SOL/USDT-P	−0.0088%	1h	116.56	−0.077%	$98K	$689K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.54	−0.098%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.69	+0.036%	$32.9M	$103.9M	100x	as long as short
Derive SOL-PERP	−0.0048%	1h	116.59	−0.048%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0017%	1h	116.65	−0.004%	—	$625K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.69	+0.034%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.72	+0.057%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.67	+0.018%	$109K	$3.6M	8.3x	as long as short
dYdX SOL-USD	+0.0011%	1h	116.69	+0.034%	$4.3M	$23.8M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0016%	1h	116.65	−0.003%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.72	+0.060%	$100K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.70	+0.043%	$8.0M	$405.6M	50x	as long as short
Bitget SOLUSDT	+0.0053%	8h	116.63	−0.016%	$480.8M	$462.4M	100x	as long as short
SoDEX SOL-USDlong	+0.0074%	1h	116.65	long leg	$6.1M	$10.9M	20x
Orderly PERP_SOL_USDC	+0.0091%	8h	116.66	+0.005%	$1.0M	$6.0M	100x	as long as short
Aster SOLUSDT	+0.0093%	8h	116.63	−0.017%	$175.8M	$176.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.65	+0.003%	$13.1M	$60.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.66	+0.006%	$351K	$247K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	116.68	+0.022%	$1.0M	$551K	50x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.66	+0.009%	$64K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.48	−0.148%	$5.5M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.75	+0.086%	$698.6M	$409.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	+0.067%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.61	−0.033%	$968.8M	$3.90B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.56	−0.077%	$371.3M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.61	−0.034%	$217K	$887K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.70	+0.045%	$904K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.086%	$125.4M	$23.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.65	0.000%	$843.3M	$664.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.66	+0.009%	$362.6M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.66	+0.005%	$129.1M	$232.2M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.63	−0.015%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.65	0.000%	$23.1M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.55	−0.089%	$24.8M	$112.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.66	+0.004%	$93.7M	$410.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.70	+0.041%	$47.7M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.72	+0.064%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.59	−0.051%	$1.3M	$12.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.68	+0.026%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.70	+0.045%	$234K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.67	+0.021%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.70	+0.040%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.68	+0.026%	$226.0M	$50.7M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.68	+0.026%	$45.4M	$105.6M	50x
Extended SOL-USD	+0.0104%	1h	116.61	−0.034%	$8.0M	$39.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.64	−0.006%	—	$235.6M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0159%	1h	116.73	+0.067%	$26.5M	$21.9M	50x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	117.09	+0.377%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.75	+0.086%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.66	+0.006%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.60	−0.043%	$52.3M	$68.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.69	+0.037%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.77	+0.102%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0498%	1h	116.76	+0.091%	$25K	$56K	20x	as long as short