Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.028%

Price spread now: Derive against OKX−0.053%7-day average −0.020% · you buy dearer than you sell

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

Long on OKX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now −0.053%, 7d avg −0.020%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Derive is 0.033% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.020%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOL-USDT-SWAP	119.42	0.0100	pay 0.0100% / 8h	2h 15m	$371.5M	$1.72B	100x
Short	Derive SOL-PERP	119.36	−0.0056	pay 0.0007% / 1h	15m 16s	$2.0M	$3.2M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against OKX. 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 OKXbpFee DerivebpOrdersPrice spread, now −0.053%Rate

Funding earned: −$32.84
Price spread: −0.053% → −0.020%: −$3.25
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$52.1
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; Derive: 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 OKX live order book, 4 min ago	0.42 bp	5.4 bp −$5	6.1 bp −$61	11.3 bp −$1,130	20.0 bp −$10.0K
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	−0.226%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.42	−0.002%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	119.37	−0.039%	—	$724K	20x	as long as short
Derive SOL-PERPshort	−0.0056%	1h	119.36	−0.053%	$2.0M	$3.2M	13x
dYdX SOL-USD	−0.0004%	1h	119.44	+0.020%	$5.0M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.47	+0.046%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.47	+0.043%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.44	+0.017%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.49	+0.060%	$26.8M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0029%	1h	119.59	+0.142%	$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	+0.0050%	8h	119.38	−0.032%	$232.6M	$44.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.45	+0.028%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.66	+0.204%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.46	+0.033%	$105K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.46	+0.031%	—	$374.1M	—	as long as short
Gate SOL_USDT	+0.0090%	8h	119.38	−0.033%	$871.5M	$687.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.43	+0.008%	$13.6M	$55.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.42	−0.002%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.42	−0.003%	$354K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.42	−0.004%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.44	+0.017%	$49K	$784K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.46	+0.034%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.49	+0.060%	$721.5M	$414.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.45	+0.025%	$179.8M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.47	+0.041%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.45	+0.025%	$979.2M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.48	+0.050%	$826.4M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAPlong	+0.0100%	8h	119.42	long leg	$371.5M	$1.72B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	119.39	−0.025%	$235K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.49	+0.055%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.199%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.40	−0.017%	$429.5M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.40	−0.015%	$141.0M	$197.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.46	+0.030%	$498.6M	$452.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.45	+0.025%	$24.3M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.47	+0.042%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.69	+0.230%	$96.1M	$402.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.56	+0.115%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.61	+0.162%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.48	+0.050%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.40	−0.017%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.45	+0.025%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.47	+0.044%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.40	−0.020%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.42	0.000%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.45	+0.025%	$46.7M	$101.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.40	−0.016%	$8.7M	$36.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.49	+0.059%	$8.2M	$417.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.50	+0.066%	—	$221.2M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.58	+0.134%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.47	+0.040%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.46	+0.030%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.38	−0.033%	$1.1M	$560K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.41	−0.008%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.45	+0.025%	$35.6M	$91.2M	100x	as long as short