Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.035%

Price spread now: Derive against Variational Omni−0.028%7-day average −0.032% · you buy dearer than you sell

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

Long on Variational Omni Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.056%−$6 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.028%, 7d avg −0.032%

Together, before fees−0.074%+ Points / potential airdropVariational Omni: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, 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	Variational Omni SOL	116.91	0.0100	pay 0.0100% / 8h	4h 00m	$24.6M	$113.9M	—
Short	Derive SOL-PERP	116.88	0.0016	get 0.0002% / 1h	0m 10s	$1.9M	$2.8M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee DerivebpOrdersPrice spread, now −0.028%Rate

Funding earned: −$17.73
Price spread: −0.028% → −0.032%: $0.37
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: −$23.36
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Derive: 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 Variational Omni RFQ quote, 4 min ago	1.24 bp	doesn't fit	3.2 bp −$32	9.6 bp −$964	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	−0.0176%	1h	116.98	+0.056%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0099%	1h	116.88	−0.027%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.85	−0.053%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.95	+0.030%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.97	+0.043%	$1.4M	$18.8M	3.1x	as long as short
dYdX SOL-USD	+0.0003%	1h	116.96	+0.038%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERPshort	+0.0016%	1h	116.88	−0.028%	$1.9M	$2.8M	13x
01 Exchange SOLUSD	+0.0056%	1h	116.95	+0.030%	$99K	$172K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.90	−0.012%	$7.5M	$404.6M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.89	−0.023%	$31.0M	$99.9M	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	+0.0093%	8h	116.96	+0.040%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.95	+0.030%	$13.1M	$60.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.88	−0.033%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.95	+0.029%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.94	+0.022%	$51K	$872K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.98	+0.055%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.92	+0.004%	$5.5M	$39.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.89	−0.021%	$705.8M	$394.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.93	+0.013%	$175.0M	$182.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.99	+0.061%	$15.8M	$129.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.86	−0.047%	$973.5M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.75	−0.142%	$781.4M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.80	−0.098%	$369.8M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.88	−0.030%	$231K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.96	+0.038%	$927K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	−0.186%	$134.0M	$22.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.84	−0.064%	$843.3M	$667.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.81	−0.089%	$370.8M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.93	+0.016%	$129.3M	$221.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.81	−0.094%	$479.8M	$441.2M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.78	−0.116%	—	$365.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.82	−0.081%	$23.2M	$39.0M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	116.91	long leg	$24.6M	$113.9M	—
edgeX SOLUSDC	+0.0100%	4h	116.78	−0.115%	$93.8M	$397.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.84	−0.064%	$47.8M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.87	−0.038%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.79	−0.107%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.93	+0.013%	$322K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.93	+0.012%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.94	+0.019%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.87	−0.041%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.88	−0.030%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.94	+0.026%	$226.8M	$47.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.84	−0.064%	$45.7M	$102.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.89	−0.021%	$8.3M	$37.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.93	+0.011%	—	$231.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.72	−0.166%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.99	+0.065%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0164%	1h	117.01	+0.079%	$26.4M	$23.5M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.90	−0.010%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.95	+0.030%	$52.1M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.94	+0.026%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.94	+0.024%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0518%	1h	116.87	−0.037%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	117.01	+0.079%	$1.9M	$4.8M	20x	as long as short