Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0461%/8h= +50.5% APRpaid last 24h +0.039%

Price spread now: RISEx against OKX−0.007%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$190.189% of the position

Long on OKX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.095%+$9 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.007%, 7d avg +0.008%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.095% in total (about 9.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOL-USDT-SWAP	116.93	0.0100	pay 0.0100% / 8h	3h 55m	$368.0M	$1.69B	100x
Short	RISEx SOL/USDC	116.92	0.0561	get 0.0070% / 1h	55m 18s	$1.9M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.007%Rate

Funding earned: $96.8
Price spread: −0.007% → +0.008%: −$1.43
Slippage, 4 orders: −$2.88
Fee OKX: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $76.49
Costs to cover: 0.189%
Break-even: 1.5 days

Slippage from OKX: live order book, 4 min ago; RISEx: live order book, 4 min ago.

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	0.43 bp	5.4 bp −$5	6.0 bp −$60	9.0 bp −$903	20.2 bp −$10.1K
Sell RISEx live order book, 4 min ago	0.38 bp	4.6 bp −$5	8.1 bp −$81	doesn't fit	doesn't fit

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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.77	−0.137%	$31.0M	$100.3M	100x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	116.59	−0.294%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0096%	1h	116.80	−0.111%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.85	−0.068%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.93	0.000%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.54	−0.334%	$1.5M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0010%	1h	116.88	−0.043%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.87	−0.049%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.75	−0.155%	$7.4M	$404.3M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.95	+0.019%	$1.0M	$5.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SOL	+0.0096%	1h	116.86	−0.057%	$13.1M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.78	−0.130%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.91	−0.017%	$100K	$173K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.86	−0.063%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.80	−0.111%	$50K	$882K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.84	−0.073%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.89	−0.038%	$5.5M	$40.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.00	+0.060%	$706.5M	$395.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.88	−0.042%	$175.0M	$182.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.89	−0.032%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.94	+0.009%	$974.2M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.87	−0.051%	$776.0M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAPlong	+0.0100%	8h	116.93	long leg	$368.0M	$1.69B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	116.87	−0.051%	$231K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.88	−0.044%	$928K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	−0.199%	$134.0M	$22.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.91	−0.017%	$846.5M	$654.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.94	+0.009%	$368.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.90	−0.027%	$129.4M	$222.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.88	−0.040%	$480.0M	$442.0M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.89	−0.030%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.71	−0.188%	$23.1M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.63	−0.253%	$24.5M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.68	−0.211%	$93.7M	$398.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.61	−0.274%	$47.7M	$30.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.73	−0.169%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.58	−0.299%	$1.3M	$12.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.90	−0.026%	$322K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.91	−0.017%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.91	−0.018%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.53	−0.345%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.75	−0.154%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.70	−0.200%	$226.4M	$47.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.76	−0.145%	$45.7M	$102.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.79	−0.120%	$8.3M	$37.4M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	−0.180%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.75	−0.156%	—	$231.5M	500x	as long as short
Phoenix SOL	+0.0137%	1h	116.80	−0.111%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0184%	1h	116.80	−0.107%	$26.3M	$23.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.89	−0.035%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.67	−0.222%	$51.9M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.93	−0.003%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.90	−0.024%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0531%	1h	116.81	−0.102%	$25K	$50K	20x	as long as short
RISEx SOL/USDCshort	+0.0561%	1h	116.92	−0.007%	$1.9M	$4.8M	20x