Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.013%

Price spread now: 01 Exchange against Orderly−0.018%7-day average +0.027% · you buy dearer than you sell

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

Long on Orderly Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.043%+$4 on $10k

Price spread, last 3 days (all we have)+0.251%+$25 · spread now −0.018%, 7d avg +0.027%

Together, before fees+0.294%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. 01 Exchange is 0.044% cheaper against Orderly than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.027%). If the spread goes back, that is −$4 on $10k: about 13 days of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.043% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SOL_USDC	118.70	0.0060	pay 0.0060% / 8h	2h 38m	$1.1M	$5.9M	100x
Short	01 Exchange SOLUSD	118.68	0.0072	get 0.0009% / 1h	38m 43s	$104K	$151K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.018%Rate

Funding earned: $2.45
Price spread: −0.018% → +0.027%: −$4.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$14.98
Costs to cover: 0.130%
Break-even: 49.8 days

Slippage unknown: Orderly: no order-book sample; 01 Exchange: live order book, 50 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 01 Exchange live order book, 50 min ago	0.42 bp	10.0 bp −$10	22.1 bp −$221	doesn't fit	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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	+0.159%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.61	−0.073%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.64	−0.056%	—	$724K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.75	+0.042%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0033%	1h	118.81	+0.093%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.70	−0.003%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.70	0.000%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.65	−0.041%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	118.73	+0.028%	$26.6M	$27.7M	50x	as long as short
dYdX SOL-USD	0.0000%	1h	118.81	+0.092%	$4.8M	$26.9M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0042%	1h	118.74	+0.033%	$1.5M	$6.2M	50x	as long as short
Orderly PERP_SOL_USDClong	+0.0060%	8h	118.70	long leg	$1.1M	$5.9M	100x
HTX SOL-USDT	+0.0068%	8h	118.58	−0.098%	$231.0M	$43.6M	75x	as long as short
BingX SOL-USDC	+0.0070%	8h	118.70	−0.002%	—	$10.5M	—	as long as short
01 Exchange SOLUSDshort	+0.0072%	1h	118.68	−0.018%	$104K	$151K	20x
Gate SOL_USDT	+0.0082%	8h	118.69	−0.009%	$857.4M	$678.6M	100x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.79	+0.077%	$123K	$606K	20x	as long as short
Lighter SOL	+0.0096%	1h	118.75	+0.044%	$13.4M	$53.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.74	+0.036%	$2.0M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.67	−0.026%	$353K	$741K	20x	as long as short
KuCoin SOLUSDTM	+0.0097%	8h	118.72	+0.019%	$143.2M	$196.6M	75x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.66	−0.037%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.66	−0.035%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.72	+0.020%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.84	+0.117%	$716.5M	$412.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.77	+0.055%	$178.9M	$174.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.82	+0.098%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.78	+0.067%	$971.2M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.81	+0.092%	$821.7M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.78	+0.067%	$369.5M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.76	+0.050%	$233K	$861K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.72	+0.016%	$1.9M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.80	+0.083%	$467.1M	$1.08B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.74	+0.036%	$495.8M	$448.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.68	−0.018%	$24.2M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.76	+0.046%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.71	+0.009%	$95.3M	$397.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.74	+0.035%	$48.6M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	+0.083%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.65	−0.043%	$363K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.67	−0.022%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.68	−0.020%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.67	−0.024%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.64	−0.051%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.64	−0.051%	$46.3M	$99.9M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	+0.007%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	118.70	+0.002%	$8.6M	$37.1M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.68	−0.019%	$8.1M	$413.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.67	−0.023%	—	$217.3M	500x	as long as short
Phoenix SOL	+0.0154%	1h	118.79	+0.075%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.70	−0.003%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.68	−0.017%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.65	−0.044%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.63	−0.060%	$51.6M	$86.7M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.66	−0.031%	$36.0M	$89.7M	100x	as long as short