Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.037%

Price spread now: Phemex against Vest−0.142%45s7-day average +0.026% · you buy dearer than you sell

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

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.095%+$10 on $10k

Price spread, last 3 days (all we have)+0.099%+$10 · spread now −0.142%, 7d avg +0.026%

Together, before fees+0.195%+ Points / potential airdropVest: Active · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.167% cheaper against Vest than usual: you would sell low and buy high (spread −0.142% now, against its 7-day average of +0.026%). If the spread goes back, that is −$17 on $10k: about 3.6 days of funding at the current rate (+$5 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest SOL-PERP	117.50	−0.0057	get 0.0007% / 1h	56m 27s	—	$605K	20x
Short	Phemex SOLUSDT	117.33	0.0100	get 0.0100% / 8h	5h 56m	$45.7M	$100.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. 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 VestbpFee PhemexbpOrdersPrice spread, now −0.142%Rate

Funding earned: $32.94
Price spread: −0.142% → +0.026%: −$16.75
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: $2.2
Costs to cover: 0.140%
Break-even: 6.5 days

Slippage unknown: Vest: no order-book sample; 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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	0.43 bp	7.5 bp −$8	8.1 bp −$81	16.0 bp −$1,598	doesn't fit

Vest: 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 54 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
Hotstuff SOL-PERP	−0.0080%	1h	117.67	+0.146%	$920	$8K	25x	as long as short
Vest SOL-PERPlong	−0.0057%	1h	117.50	long leg	—	$605K	20x
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.30	−0.168%	$31.5M	$98.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.58	+0.074%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.56	+0.054%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.34	−0.136%	$1.4M	$20.1M	3.1x	as long as short
Derive SOL-PERP	+0.0009%	1h	117.22	−0.236%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0033%	8h	117.23	−0.229%	$227.8M	$45.5M	75x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0044%	1h	117.33	−0.139%	$26.3M	$25.3M	50x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.63	+0.114%	$100K	$162K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.31	−0.155%	$8.0M	$402.1M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.44	−0.046%	$100K	$690K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.67	+0.152%	—	$363.2M	—	as long as short
Gate SOL_USDT	+0.0086%	8h	117.59	+0.080%	$850.4M	$641.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.30	−0.164%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.57	+0.065%	$13.1M	$58.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.53	+0.029%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.30	−0.170%	$344K	$225K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.61	+0.097%	$67K	$840K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.65	+0.131%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.60	+0.088%	$5.8M	$39.9M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.54	+0.035%	$176.4M	$177.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.63	+0.113%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.64	+0.124%	$969.9M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.64	+0.122%	$821.9M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.61	+0.097%	$366.7M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	+0.097%	$237K	$851K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.66	+0.140%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.62	+0.105%	$423.8M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.61	+0.100%	$130.7M	$211.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.61	+0.094%	$487.6M	$433.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.35	−0.125%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.45	−0.036%	$24.3M	$120.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.44	−0.052%	$94.3M	$405.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.55	+0.042%	$48.2M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.56	+0.054%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.49	−0.006%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.62	+0.105%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.60	+0.091%	$200K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.27	−0.193%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.28	−0.185%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.29	−0.176%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.33	−0.142%	$45.7M	$100.3M	50x
Bulk SOL-USD	+0.0100%	1h	117.46	−0.035%	$134.5M	$14.2M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.53	+0.029%	$6.5M	$13.2M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.65	+0.128%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.43	−0.055%	—	$221.2M	500x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.70	+0.169%	$1.9M	$4.9M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.61	+0.094%	$1.1M	$523K	25x	as long as short
Hyperliquid SOL	+0.0201%	1h	117.74	+0.207%	$718.5M	$395.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	−0.040%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.30	−0.166%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0364%	1h	117.53	+0.029%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.70	+0.173%	$128K	$3.8M	8.3x	as long as short