Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.043%

Price spread now: RISEx against Phemex−0.002%7-day average +0.009% · 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−$27as in the Price arb table

costs, in and out, $10k−$250.255% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 3 days (all we have)+0.108%+$11 · spread now −0.002%, 7d avg +0.009%

Together, before fees+0.201%+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, 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	Phemex SOLUSDT	118.86	0.0100	pay 0.0100% / 8h	7h 58m	$46.5M	$102.5M	50x
Short	RISEx SOL/USDC	118.86	0.0161	get 0.0020% / 1h	58m 25s	$1.8M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Phemex. 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 PhemexbpFee RISExbpOrdersPrice spread, now −0.002%Rate

Funding earned: $12.82
Price spread: −0.002% → +0.009%: −$1.08
Slippage, 4 orders: −$7.45
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$13.71
Costs to cover: 0.255%
Break-even: 14.5 days

Slippage from Phemex: live order book, 6 min ago; RISEx: live order book, 1 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 Phemex live order book, 6 min ago	0.42 bp	11.3 bp −$11	17.0 bp −$170	22.3 bp −$2,225	doesn't fit
Sell RISEx live order book, 1 min ago	0.04 bp	4.4 bp −$4	6.7 bp −$67	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
Bluefin SOL-PERP	−0.2307%	1h	118.88	+0.019%	$37K	$17K	25x	as long as short
dYdX SOL-USD	−0.0092%	1h	118.77	−0.073%	$4.9M	$28.0M	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.83	−0.027%	$842	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	118.78	−0.067%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.79	−0.062%	$2.0M	$2.8M	13x	as long as short
Gate SOL_USDT	−0.0038%	8h	118.80	−0.050%	$861.0M	$657.2M	100x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.89	+0.024%	$32.6M	$97.1M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.86	0.000%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.88	+0.017%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.83	−0.025%	$175K	$3.9M	8.3x	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	+0.0029%	1h	118.78	−0.066%	$1.5M	$6.1M	50x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	118.86	0.000%	$103K	$158K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0042%	1h	118.92	+0.051%	$26.6M	$25.7M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0078%	8h	118.88	+0.016%	$1.0M	$5.9M	100x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.86	−0.001%	—	$369.7M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	118.97	+0.096%	$121K	$642K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.91	+0.042%	$8.2M	$416.9M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.75	−0.088%	$13.4M	$54.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.79	−0.057%	$2.1M	$16.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.89	+0.025%	$352K	$568K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.80	−0.053%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.83	−0.025%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.83	−0.021%	$5.8M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.92	+0.050%	$719.8M	$408.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.84	−0.017%	$178.5M	$177.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.83	−0.028%	$12.2M	$122.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.85	−0.008%	$979.5M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.84	−0.017%	$822.7M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.81	−0.042%	$371.2M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.82	−0.034%	$231K	$882K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.84	−0.019%	$1.9M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.81	−0.039%	$133.9M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.83	−0.025%	$429.6M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.85	−0.006%	$138.1M	$207.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.80	−0.053%	$492.7M	$458.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.85	−0.008%	$24.2M	$38.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.79	−0.060%	$27.0M	$128.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.78	−0.065%	$95.4M	$403.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.90	+0.034%	$48.7M	$30.5M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.92	+0.050%	$1.4M	$13.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.81	−0.042%	$360K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.84	−0.020%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.85	−0.011%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.87	+0.008%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	118.82	−0.035%	$231.3M	$45.0M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	118.86	long leg	$46.5M	$102.5M	50x
Phoenix SOL	+0.0100%	1h	118.85	−0.008%	$6.6M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.83	−0.027%	$8.7M	$36.0M	50x	as long as short
Aftermath Perps SOLUSD	+0.0117%	1h	118.80	−0.049%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.87	+0.011%	—	$225.7M	500x	as long as short
RISEx SOL/USDCshort	+0.0161%	1h	118.86	−0.002%	$1.8M	$4.8M	20x
GMX SOL/USD [SOL-USDC]	L +0.0166% / S −0.0084%	1h	118.86	+0.001%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	118.66	−0.168%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0185%	1h	118.79	−0.059%	$1.1M	$533K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.87	+0.008%	$51.9M	$80.3M	125x	as long as short