Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Phemex against SunX−0.106%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$570.570% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now −0.106%, 7d avg +0.023%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.130% cheaper against SunX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SOL-USDT	119.31	0.0100	pay 0.0100% / 8h	1h 27m	$194K	$1.9M	30x
Short	Phemex SOLUSDT	119.18	0.0100	get 0.0100% / 8h	1h 27m	$46.5M	$102.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.106%Rate

Funding earned: $0
Price spread: −0.106% → +0.023%: −$12.96
Slippage, 4 orders: −$36.97
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$69.92
Costs to cover: 0.570%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; Phemex: live order book, 6 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 SunX live order book, 8 min ago	3.92 bp	21.3 bp −$21	33.4 bp −$334	doesn't fit	doesn't fit
Sell Phemex live order book, 6 min ago	1.67 bp	9.3 bp −$9	11.1 bp −$111	19.7 bp −$1,969	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
Bluefin SOL-PERP	−0.0118%	1h	119.23	−0.064%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0086%	1h	119.13	−0.144%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.34	+0.025%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0060%	1h	119.24	−0.057%	—	$722K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0005% / S +0.0004%	1h	119.25	−0.049%	$106K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.15	−0.132%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.37	+0.056%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.24	−0.057%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	119.30	−0.002%	$120K	$611K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.24	−0.056%	$6.6M	$13.6M	25x	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	+0.0067%	8h	119.22	−0.071%	$1.1M	$5.9M	100x	as long as short
Aftermath Perps SOLUSD	+0.0078%	1h	119.34	+0.026%	$24K	$47K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.17	−0.113%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0084%	8h	119.15	−0.130%	$232.0M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0087%	8h	119.16	−0.123%	$869.8M	$683.5M	100x	as long as short
01 Exchange SOLUSD	+0.0088%	1h	119.35	+0.036%	$104K	$154K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.17	−0.114%	$13.6M	$55.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.17	−0.118%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.18	−0.104%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.14	−0.141%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.21	−0.081%	$47K	$794K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.36	+0.045%	$6.2M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.26	−0.039%	$717.7M	$416.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.18	−0.105%	$178.4M	$176.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.21	−0.078%	$12.3M	$117.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.17	−0.114%	$985.4M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.20	−0.085%	$823.8M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.17	−0.114%	$370.9M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.31	+0.003%	$233K	$886K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.25	−0.044%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.16	−0.126%	$133.7M	$8.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.18	−0.106%	$453.2M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.18	−0.109%	$140.8M	$201.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.18	−0.109%	$495.1M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.18	−0.106%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	−0.039%	$27.9M	$128.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.40	+0.080%	$95.9M	$399.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.09	−0.178%	$48.8M	$31.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.40	+0.076%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.28	−0.022%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.29	−0.014%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.22	−0.073%	$202K	$1.7M	20x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	119.31	long leg	$194K	$1.9M	30x
SoDEX SOL-USD	+0.0100%	1h	119.17	−0.114%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	119.18	−0.106%	$46.5M	$102.3M	50x
Extended SOL-USD	+0.0104%	1h	119.15	−0.127%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.20	−0.085%	$8.2M	$415.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.38	+0.064%	—	$223.3M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0145%	1h	119.25	−0.048%	$26.7M	$27.6M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	119.17	−0.115%	$32.6M	$95.8M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0085%	1h	119.25	−0.050%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.23	−0.067%	$1.1M	$557K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.25	−0.044%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.148%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.28	−0.022%	$52.3M	$82.8M	125x	as long as short