Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h +0.027%

Price spread now: Orderly against Derive+0.054%7-day average +0.042% · you sell dearer than you buy

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

Long on Derive Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.054%, 7d avg +0.042%

Together, before fees−0.073%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive SOL-PERP	116.59	0.0012	pay 0.0002% / 1h	54m 20s	$1.9M	$2.8M	13x
Short	Orderly PERP_SOL_USDC	116.65	0.0091	get 0.0091% / 8h	4h 54m	$1.0M	$5.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Derive. 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 DerivebpFee OrderlybpOrdersPrice spread, now +0.054%Rate

Funding earned: $16.55
Price spread: +0.054% → +0.042%: $1.19
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $5.74
Costs to cover: 0.120%
Break-even: 4.6 days

Slippage unknown: Derive: no order-book sample; 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 Derive no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Derive and 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
ApeX Omni SOLUSDT	−0.0435%	1h	116.33	−0.222%	$1.7M	$6.0M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.67	+0.067%	$912	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	116.63	+0.039%	—	$602K	20x	as long as short
Hibachi SOL/USDT-P	−0.0008%	1h	116.68	+0.080%	$103K	$700K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.67	+0.071%	$54K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.69	+0.087%	$4.4M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.69	+0.087%	$1.4M	$18.8M	3.1x	as long as short
Derive SOL-PERPlong	+0.0012%	1h	116.59	long leg	$1.9M	$2.8M	13x
Deribit SOL_USDC-PERPETUAL	+0.0047%	1h	116.71	+0.105%	$26.3M	$25.2M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	116.68	+0.078%	$99K	$168K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.66	+0.063%	$7.6M	$404.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.65	+0.050%	$30.8M	$100.0M	100x	as long as short
Orderly PERP_SOL_USDCshort	+0.0091%	8h	116.65	+0.054%	$1.0M	$5.8M	100x
Lighter SOL	+0.0096%	1h	116.70	+0.095%	$13.0M	$59.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.69	+0.086%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.62	+0.027%	$342K	$229K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.70	+0.098%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.64	+0.044%	$50K	$845K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.66	+0.061%	$5.5M	$39.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.75	+0.138%	$707.5M	$394.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.65	+0.052%	$175.2M	$181.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.70	+0.098%	$15.5M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.66	+0.061%	$961.8M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.58	−0.011%	$794.7M	$1.32B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.65	+0.052%	$364.9M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.66	+0.061%	$232K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.69	+0.085%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	+0.059%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.66	+0.061%	$848.6M	$651.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.67	+0.069%	$416.0M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.66	+0.061%	$126.5M	$216.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.65	+0.050%	$481.7M	$439.0M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.65	+0.051%	—	$365.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.68	+0.078%	$23.3M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.68	+0.074%	$24.4M	$115.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.36	−0.195%	$93.5M	$396.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.56	−0.023%	$47.6M	$29.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.62	+0.026%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.67	+0.069%	$332K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.65	+0.053%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.62	+0.028%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.61	+0.020%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.65	+0.052%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.65	+0.050%	$226.4M	$46.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.72	+0.112%	$45.6M	$101.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.61	+0.016%	$8.0M	$36.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.71	+0.103%	—	$221.3M	500x	as long as short
Phoenix SOL	+0.0129%	1h	116.77	+0.155%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.833%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.65	+0.056%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.62	+0.026%	$51.8M	$71.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.67	+0.073%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.73	+0.121%	$128K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0457%	1h	116.79	+0.173%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.74	+0.132%	$1.9M	$4.9M	20x	as long as short