Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.011%

Price spread now: Orderly against Bulk−0.063%7-day average −0.010% · you buy dearer than you sell

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

Long on Bulk Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now −0.063%, 7d avg −0.010%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.053% cheaper against Bulk than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk SOL-USD	119.66	0.0100	pay 0.0013% / 1h	13m 52s	$134.1M	$11.3M	20x
Short	Orderly PERP_SOL_USDC	119.58	0.0062	get 0.0062% / 8h	2h 13m	$1.1M	$5.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bulk. 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 BulkbpFee OrderlybpOrdersPrice spread, now −0.063%Rate

Funding earned: −$7.91
Price spread: −0.063% → −0.010%: −$5.3
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$26.21
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, just now; Orderly: 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 Bulk live order book, just now	4.18 bp	7.7 bp −$8	7.7 bp −$77	7.7 bp −$768	7.7 bp −$3,841
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.424%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.49	−0.140%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	119.46	−0.169%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.48	−0.147%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.51	−0.123%	$5.0M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.58	−0.069%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.54	−0.095%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.57	−0.077%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.62	−0.029%	$26.8M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0033%	1h	119.58	−0.065%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0051%	8h	119.52	−0.113%	$232.8M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDCshort	+0.0062%	8h	119.58	−0.063%	$1.1M	$5.9M	100x
Hibachi SOL/USDT-P	+0.0064%	1h	119.46	−0.166%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.50	−0.132%	$105K	$152K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.49	−0.137%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.51	−0.123%	$872.2M	$688.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.55	−0.088%	$13.6M	$55.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.55	−0.093%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.55	−0.087%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.46	−0.167%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.48	−0.149%	$49K	$784K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.49	−0.140%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.55	−0.090%	$721.7M	$414.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.49	−0.137%	$179.9M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.53	−0.108%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.51	−0.123%	$978.4M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.51	−0.127%	$826.4M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.45	−0.174%	$372.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.39	−0.224%	$235K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.52	−0.115%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USDlong	+0.0100%	1h	119.66	long leg	$134.1M	$11.3M	20x
MEXC SOL_USDT	+0.0100%	8h	119.51	−0.123%	$429.2M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.53	−0.108%	$141.1M	$197.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.47	−0.153%	$498.6M	$452.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.57	−0.073%	$24.3M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.47	−0.157%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.69	+0.031%	$96.1M	$402.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.56	−0.084%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.61	−0.037%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.42	−0.199%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.52	−0.115%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.56	−0.080%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.54	−0.097%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.46	−0.169%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.56	−0.082%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.57	−0.073%	$46.7M	$101.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.49	−0.142%	$8.7M	$36.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.61	−0.040%	$8.2M	$417.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.46	−0.167%	—	$221.4M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.58	−0.065%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.57	−0.074%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.50	−0.133%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.55	−0.086%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.41	−0.207%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0222%	1h	119.59	−0.056%	$35.6M	$91.2M	100x	as long as short