SOL arbitrage explained
Right now Solana (SOL) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Aster perp at $117.01 and the highest bid on Gate spot at $117.10.
The widest SOL perpetual spread is between Aster and Hyperliquid: long SOL on Aster at $117.01 and short on Hyperliquid at $117.06 for +0.04% gross, or -0.12% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.014% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best SOL route is to buy spot on OKX and short the perpetual on Hyperliquid: -0.02% gross, -0.22% net, with +0.030% a day of funding on the short leg.
Spot–spot SOL arbitrage (buy on OKX, withdraw, deposit and sell on Bybit) shows +0.02% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small SOL gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: SOL funding rates · SOL spread charts · Solana price · arbitrage scanner for all coins.