Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h +0.006%

Price spread now: SoDEX against Orderly+0.011%7-day average −0.016% · you sell dearer than you buy

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

Long on Orderly Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.011%, 7d avg −0.016%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.027% dearer against Orderly than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SOL_USDC	116.41	0.0094	pay 0.0094% / 8h	3h 11m	$1.0M	$5.9M	100x
Short	SoDEX SOL-USD	116.42	0.0100	get 0.0013% / 1h	11m 21s	$6.1M	$10.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Orderly. 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 OrderlybpFee SoDEXbpOrdersPrice spread, now +0.011%Rate

Funding earned: $1.22
Price spread: +0.011% → −0.016%: $2.69
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$10.09
Costs to cover: 0.140%
Break-even: 64.9 days

Slippage unknown: Orderly: no order-book sample; SoDEX: live order book, 3 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell SoDEX live order book, 3 min ago	0.43 bp	4.4 bp −$4	5.0 bp −$50	16.5 bp −$1,655	doesn't fit

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
Hibachi SOL/USDT-P	−0.0208%	1h	116.43	+0.019%	$104K	$703K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.44	+0.026%	$31.4M	$102.4M	100x	as long as short
Vest SOL-PERP	−0.0106%	1h	116.37	−0.028%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.47	+0.052%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0062%	8h	116.31	−0.083%	$750.0M	$1.40B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.33	−0.068%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.42	+0.008%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.50	+0.077%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0011%	1h	116.43	+0.019%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.47	+0.051%	$7.6M	$404.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0061%	1h	116.40	−0.009%	$147K	$1.6M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.45	+0.037%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0090%	8h	116.38	−0.027%	$480.3M	$447.1M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0093%	1h	116.47	+0.055%	$26.2M	$23.1M	50x	as long as short
Orderly PERP_SOL_USDClong	+0.0094%	8h	116.41	long leg	$1.0M	$5.9M	100x
Lighter SOL	+0.0096%	1h	116.46	+0.046%	$13.1M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.44	+0.033%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.42	+0.007%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.39	−0.015%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.47	+0.053%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.44	+0.027%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.51	+0.088%	$701.8M	$395.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.39	−0.015%	$174.3M	$183.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.49	+0.071%	$15.7M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.41	+0.001%	$970.9M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.41	+0.003%	$367.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.45	+0.037%	$224K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.48	+0.061%	$918K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.46	+0.046%	$132.4M	$15.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.40	−0.006%	$855.1M	$668.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.41	+0.003%	$367.7M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.41	+0.002%	$128.8M	$224.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.39	−0.016%	—	$364.9M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.45	+0.037%	$23.0M	$40.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.48	+0.067%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.48	+0.062%	$93.5M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.47	+0.054%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.54	+0.111%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.45	+0.037%	$1.3M	$12.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.40	−0.006%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.41	+0.006%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.41	−0.002%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USDshort	+0.0100%	1h	116.42	+0.011%	$6.1M	$10.8M	20x
HTX SOL-USDT	+0.0100%	8h	116.40	−0.009%	$225.6M	$48.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.42	+0.011%	$45.3M	$103.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.35	−0.049%	$8.2M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.252%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.46	+0.044%	—	$235.8M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.166%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.38	−0.027%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.50	+0.080%	$51.8M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.40	−0.005%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.42	+0.011%	$130K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.51	+0.087%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0575%	1h	116.55	+0.120%	$25K	$52K	20x	as long as short