Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Phemex against Variational Omni−0.013%7-day average +0.006% · you buy dearer than you sell

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.013%, 7d avg +0.006%

Together, before fees−0.036%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SOL	116.35	0.0100	pay 0.0100% / 8h	3h 01m	$25.1M	$114.1M	—
Short	Phemex SOLUSDT	116.34	0.0100	get 0.0100% / 8h	3h 01m	$45.3M	$103.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Variational Omni. 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 Variational OmnibpFee PhemexbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.006%: −$1.9
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$13.9
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phemex: live order book, 3 min ago. 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, 3 min ago	1.25 bp	doesn't fit	1.2 bp −$12	8.5 bp −$846	doesn't fit
Sell Phemex live order book, 3 min ago	0.43 bp	8.1 bp −$8	9.0 bp −$90	16.3 bp −$1,627	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
Hibachi SOL/USDT-P	−0.0232%	1h	116.30	−0.047%	$105K	$705K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0194%	1h	116.33	−0.018%	$31.6M	$103.2M	100x	as long as short
Vest SOL-PERP	−0.0113%	1h	116.28	−0.065%	—	$601K	20x	as long as short
Bybit SOLUSDT	−0.0094%	8h	116.25	−0.090%	$746.3M	$1.40B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.32	−0.031%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0025%	1h	116.25	−0.088%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.32	−0.030%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.32	−0.028%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0011%	1h	116.31	−0.039%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.34	−0.010%	$7.6M	$404.6M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0064%	1h	116.35	−0.004%	$99K	$175K	20x	as long as short
Bullet SOL-USD	+0.0069%	1h	116.30	−0.045%	$147K	$1.6M	20x	as long as short
Bitget SOLUSDT	+0.0085%	8h	116.30	−0.051%	$480.7M	$448.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.33	−0.024%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.33	−0.021%	$13.1M	$60.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.31	−0.034%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.34	−0.013%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.28	−0.064%	$60K	$899K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.33	−0.020%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.32	−0.029%	$5.3M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.42	+0.056%	$700.6M	$395.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.30	−0.047%	$174.2M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.35	−0.006%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.32	−0.030%	$970.0M	$3.84B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.32	−0.030%	$366.7M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.34	−0.013%	$214K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.36	+0.007%	$917K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.27	−0.077%	$131.6M	$15.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.33	−0.021%	$858.1M	$672.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.32	−0.030%	$375.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.33	−0.021%	$123.2M	$227.0M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.28	−0.060%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.32	−0.030%	$23.0M	$39.9M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	116.35	long leg	$25.1M	$114.1M	—
edgeX SOLUSDC	+0.0100%	4h	116.34	−0.008%	$93.4M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.43	+0.065%	$47.6M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.29	−0.056%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.33	−0.021%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.32	−0.030%	$320K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.30	−0.046%	$25K	$32K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.34	−0.016%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.32	−0.030%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.30	−0.049%	$225.4M	$48.3M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.34	−0.013%	$45.3M	$103.4M	50x
Extended SOL-USD	+0.0104%	1h	116.27	−0.074%	$8.3M	$37.9M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.50	+0.125%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.33	−0.024%	—	$236.0M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.36	+0.005%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0175%	1h	116.39	+0.032%	$26.2M	$23.1M	50x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.30	−0.044%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.35	−0.004%	$51.8M	$67.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0179%	1h	116.32	−0.033%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.33	−0.021%	$115K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.41	+0.044%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0567%	1h	116.40	+0.043%	$25K	$52K	20x	as long as short