Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.054%

Price spread now: Hotstuff against SunX−0.049%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.049% cheaper against SunX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SOL-USDT	116.35	0.0100	pay 0.0100% / 8h	3h 07m	$188K	$1.8M	30x
Short	Hotstuff SOL-PERP	116.29	−0.0080	pay 0.0010% / 1h	7m 59s	$1K	$8K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against SunX. 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 SunXbpFee HotstuffbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$37.8
Price spread: −0.049% → 0.000%: −$4.91
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$55.71
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; Hotstuff: 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 SunX live order book, 8 min ago	4.02 bp	22.5 bp −$22	33.6 bp −$336	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Hibachi SOL/USDT-P	−0.0216%	1h	116.27	−0.066%	$105K	$704K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.37	+0.021%	$31.4M	$102.5M	100x	as long as short
Vest SOL-PERP	−0.0108%	1h	116.26	−0.069%	—	$601K	20x	as long as short
Hotstuff SOL-PERPshort	−0.0080%	1h	116.29	−0.049%	$1K	$8K	25x
Bybit SOLUSDT	−0.0072%	8h	116.34	−0.004%	$748.3M	$1.40B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.30	−0.043%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.36	+0.013%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.32	−0.023%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0010%	1h	116.26	−0.074%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.37	+0.021%	$7.6M	$404.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0063%	1h	116.32	−0.019%	$146K	$1.6M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.31	−0.030%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0088%	8h	116.39	+0.041%	$480.4M	$447.8M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.38	+0.027%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.36	+0.013%	$13.1M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.34	−0.003%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.35	+0.006%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.27	−0.065%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.31	−0.029%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.30	−0.039%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.48	+0.116%	$701.0M	$395.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.39	+0.042%	$174.4M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.32	−0.022%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.42	+0.068%	$970.5M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.43	+0.073%	$367.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.26	−0.073%	$224K	$853K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.33	−0.009%	$919K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.46	+0.099%	$132.4M	$15.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.35	+0.004%	$854.0M	$669.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.44	+0.082%	$367.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.42	+0.061%	$122.2M	$226.0M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.38	+0.031%	—	$364.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.39	+0.039%	$22.9M	$39.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.28	−0.053%	$25.0M	$114.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.48	+0.115%	$93.5M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.47	+0.107%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.54	+0.164%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.40	+0.047%	$1.3M	$12.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.29	−0.047%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.33	−0.012%	$25K	$31K	25x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	116.35	long leg	$188K	$1.8M	30x
SoDEX SOL-USD	+0.0100%	1h	116.36	+0.013%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.29	−0.046%	$225.4M	$48.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.37	+0.021%	$45.3M	$103.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.38	+0.028%	$8.3M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.305%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.30	−0.041%	—	$235.8M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.219%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.28	−0.052%	$1.1M	$542K	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0212%	1h	116.42	+0.065%	$26.2M	$23.0M	50x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.26	−0.073%	$51.9M	$67.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0179%	1h	116.34	−0.003%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.34	−0.001%	$122K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.37	+0.025%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0573%	1h	116.46	+0.097%	$25K	$52K	20x	as long as short