Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:36 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.079%

Price spread now: Perpl against Reya−0.006%7-day average −0.013% · you buy dearer than you sell

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

Long on Reya Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.320%−$32 on $10k

Price spread, last 3 days (all we have)−0.175%−$17 · spread now −0.006%, 7d avg −0.013%

Together, before fees−0.495%+ Points / potential airdropReya: Active · Perpl: Active · farm board−$49 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SOLRUSDPERP	118.94	0.0180	pay 0.0022% / 1h	48m 14s	$1.1M	$557K	25x
Short	Perpl SOL	118.94	0	get 0.0000% / 43m	35m 14s	$180K	$4.1M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Reya. 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 ReyabpFee PerplbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$37.8
Price spread: −0.006% → −0.013%: $0.75
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$56.84
Costs to cover: 0.198%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Perpl: 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 Reya no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Reya and Perpl: 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	−0.046%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.89	−0.050%	$2.0M	$3.2M	13x	as long as short
ApeX Omni SOLUSDT	−0.0100%	1h	118.77	−0.144%	$1.5M	$6.2M	50x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.86	−0.072%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.75	−0.165%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0059%	1h	118.94	−0.003%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.98	+0.026%	$48K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.98	+0.030%	$4.9M	$26.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.87	−0.066%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	118.94	−0.006%	$180K	$4.1M	8.3x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0026%	1h	119.02	+0.067%	$26.7M	$27.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0057%	8h	118.97	+0.017%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.97	+0.021%	$105K	$152K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.91	−0.029%	$231.7M	$43.6M	75x	as long as short
Gate SOL_USDT	+0.0084%	8h	118.95	+0.005%	$858.9M	$675.7M	100x	as long as short
KuCoin SOLUSDTM	+0.0092%	8h	118.97	+0.022%	$144.3M	$197.6M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.96	+0.014%	$13.5M	$53.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.95	+0.006%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.99	+0.041%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.93	−0.011%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.95	+0.005%	$46K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.98	+0.030%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.05	+0.089%	$718.0M	$424.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.94	−0.004%	$179.4M	$174.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.98	+0.033%	$12.4M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.96	+0.013%	$972.5M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.99	+0.035%	$822.6M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.95	+0.005%	$368.7M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.69	−0.214%	$233K	$864K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.01	+0.052%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	−0.053%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.96	+0.013%	$467.6M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.95	+0.005%	$496.4M	$449.1M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.94	0.000%	—	$372.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.76	−0.155%	$24.2M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	−0.075%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	−0.030%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.87	−0.064%	$48.7M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	−0.122%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.95	+0.005%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.93	−0.011%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.97	+0.019%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.93	−0.016%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.96	+0.013%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.92	−0.021%	$46.4M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.94	0.000%	$8.6M	$37.4M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.81	−0.117%	$123K	$606K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.98	+0.028%	—	$218.8M	500x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.01	+0.058%	$8.1M	$414.3M	50x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.047%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.98	+0.030%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERPlong	+0.0180%	1h	118.94	long leg	$1.1M	$557K	25x
BloFin SOL-USDT	+0.0220%	8h	118.72	−0.189%	$51.6M	$89.3M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.98	+0.032%	$36.1M	$90.2M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.97	+0.018%	$3.5M	—	200x	as long as short