Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0039%/8h= +4.2% APRpaid last 24h +0.012%

Price spread now: Orderly against Deribit−0.027%7-day average −0.013% · you buy dearer than you sell

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

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now −0.027%, 7d avg −0.013%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SOL_USDC-PERPETUAL	118.95	0.0017	pay 0.0002% / 1h	57m 51s	$26.7M	$27.9M	50x
Short	Orderly PERP_SOL_USDC	118.92	0.0055	get 0.0055% / 8h	2h 57m	$1.1M	$5.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. 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 DeribitbpFee OrderlybpOrdersPrice spread, now −0.027%Rate

Funding earned: $8.11
Price spread: −0.027% → −0.013%: −$1.49
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$6.38
Costs to cover: 0.130%
Break-even: 12.5 days

Slippage unknown: Deribit: live order book, 1 min ago; 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 Deribit live order book, 1 min ago	0.88 bp	5.0 bp −$5	5.5 bp −$55	21.1 bp −$2,112	doesn't fit
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	118.68	−0.225%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0084%	1h	118.94	−0.007%	—	$731K	20x	as long as short
Aftermath Perps SOLUSD	−0.0083%	1h	119.05	+0.088%	$24K	$48K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.05	+0.082%	$844	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	118.83	−0.102%	$2.0M	$3.2M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.94	−0.006%	$49K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.04	+0.079%	$4.9M	$26.8M	20x	as long as short
Perpl SOL	0.0000%	43m	119.01	+0.052%	$191K	$4.1M	8.3x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0017%	1h	118.95	long leg	$26.7M	$27.9M	50x
01 Exchange SOLUSD	+0.0048%	1h	118.98	+0.027%	$104K	$154K	20x	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_USDCshort	+0.0055%	8h	118.92	−0.027%	$1.1M	$5.9M	100x
HTX SOL-USDT	+0.0065%	8h	118.86	−0.072%	$231.6M	$43.8M	75x	as long as short
SoDEX SOL-USD	+0.0067%	1h	118.87	−0.065%	$6.2M	$10.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0076%	1h	119.13	+0.152%	$1.5M	$6.3M	50x	as long as short
Gate SOL_USDT	+0.0079%	8h	118.89	−0.049%	$857.8M	$672.5M	100x	as long as short
KuCoin SOLUSDTM	+0.0083%	8h	118.91	−0.034%	$144.5M	$196.5M	75x	as long as short
Bullet SOL-USD	+0.0087%	1h	118.90	−0.040%	$199K	$1.8M	20x	as long as short
Lighter SOL	+0.0096%	1h	118.88	−0.059%	$13.4M	$52.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.86	−0.074%	$2.0M	$16.5M	25x	as long as short
Bitget SOLUSDT	+0.0096%	8h	118.90	−0.038%	$496.0M	$452.4M	100x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.87	−0.064%	$353K	$746K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	118.98	+0.025%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.00	+0.044%	$47K	$786K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.05	+0.087%	$5.6M	$40.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.97	+0.019%	$718.2M	$443.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.92	−0.020%	$179.8M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.06	+0.094%	$12.4M	$113.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.93	−0.015%	$976.5M	$3.76B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.96	+0.009%	$822.8M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.93	−0.015%	$367.9M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.16	+0.178%	$234K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.03	+0.069%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.09	+0.117%	$133.4M	$13.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.90	−0.040%	$470.2M	$1.07B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.94	−0.011%	—	$372.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.88	−0.057%	$24.1M	$38.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.33	+0.319%	$27.8M	$126.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.09	+0.116%	$95.6M	$395.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.08	+0.108%	$48.7M	$33.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.10	+0.128%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.96	+0.010%	$361K	$2.4M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.92	−0.022%	$38K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.86	−0.071%	$193K	$1.9M	30x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.85	−0.082%	$46.4M	$100.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.88	−0.056%	$8.7M	$37.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0111%	8h	119.05	+0.090%	$1.2M	$21.0M	3.1x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.92	−0.027%	$8.0M	$414.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.07	+0.107%	—	$218.3M	500x	as long as short
Hibachi SOL/USDT-P	+0.0128%	1h	119.10	+0.129%	$123K	$608K	20x	as long as short
Phoenix SOL	+0.0149%	1h	119.28	+0.279%	$7.3M	$11.2M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.00	+0.045%	$1.6M	$6.4M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.94	−0.010%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.07	+0.103%	$51.7M	$91.1M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.89	−0.048%	$36.1M	$90.7M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0178%	1h	118.94	−0.010%	$3.5M	—	200x	as long as short