Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0459%/8h= −50.3% APRpaid last 24h −0.031%

Price spread now: GRVT against RISEx−0.195%7-day average +0.028% · 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−$39as in the Price arb table

costs, in and out, $10k−$170.167% of the position

Long on RISEx Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.087%−$9 on $10k

Price spread, last 7 days+0.209%+$21 · spread now −0.195%, 7d avg +0.028%

Together, before fees+0.122%+ Points / potential airdropGRVT: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and GRVT is 0.223% cheaper against RISEx than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.087% in total (about -8.9% 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	RISEx SOL/USDC	117.07	0.0559	pay 0.0070% / 1h	1m 16s	$1.9M	$4.8M	20x
Short	GRVT SOL_USDT_Perp	116.84	0.0100	get 0.0100% / 8h	4h 01m	$47.8M	$30.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against RISEx. 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 RISExbpFee GRVTbpOrdersPrice spread, now −0.195%Rate

Funding earned: −$96.42
Price spread: −0.195% → +0.028%: −$22.28
Slippage, 4 orders: −$1.71
Fee RISEx: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$135.41
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; GRVT: live order book, 3 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 RISEx live order book, 3 min ago	0.04 bp	3.8 bp −$4	8.2 bp −$82	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	0.43 bp	4.9 bp −$5	5.4 bp −$54	9.8 bp −$982	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
Hibachi SOL/USDT-P	−0.0168%	1h	116.84	−0.198%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0098%	1h	116.89	−0.152%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.85	−0.184%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.96	−0.094%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.03	−0.035%	$1.4M	$18.8M	3.1x	as long as short
dYdX SOL-USD	+0.0003%	1h	116.96	−0.094%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0016%	1h	116.87	−0.171%	$1.9M	$2.8M	13x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.01	−0.050%	$99K	$172K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.95	−0.105%	$7.5M	$404.8M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.93	−0.119%	$31.1M	$99.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0093%	8h	116.94	−0.106%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.95	−0.099%	$13.1M	$60.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.93	−0.122%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.94	−0.109%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.99	−0.067%	$51K	$872K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.03	−0.035%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.94	−0.112%	$5.4M	$39.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.07	+0.001%	$706.9M	$394.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.96	−0.094%	$175.1M	$182.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.01	−0.051%	$15.8M	$129.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.97	−0.088%	$972.9M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.89	−0.152%	$782.5M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.92	−0.127%	$370.0M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.87	−0.170%	$231K	$837K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.01	−0.048%	$927K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	−0.317%	$134.0M	$22.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.95	−0.101%	$843.0M	$666.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.97	−0.084%	$373.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.95	−0.099%	$129.3M	$220.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.90	−0.146%	$480.1M	$441.1M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.96	−0.096%	—	$365.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.86	−0.178%	$23.3M	$39.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.60	−0.396%	$24.5M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.78	−0.246%	$93.8M	$397.9M	75x	as long as short
GRVT SOL_USDT_Perpshort	+0.0100%	8h	116.84	−0.195%	$47.8M	$30.0M	20x
ApeX Omni SOLUSDT	+0.0100%	1h	116.87	−0.170%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.79	−0.238%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.95	−0.101%	$322K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.96	−0.095%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.93	−0.117%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.92	−0.130%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.93	−0.118%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.94	−0.106%	$226.8M	$47.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.96	−0.093%	$45.7M	$102.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.88	−0.165%	$8.3M	$37.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.87	−0.167%	—	$231.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.72	−0.298%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.99	−0.067%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0139%	1h	116.98	−0.074%	$26.4M	$23.5M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.93	−0.119%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.95	−0.101%	$52.1M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.95	−0.099%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	117.00	−0.062%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0517%	1h	116.82	−0.209%	$25K	$50K	20x	as long as short
RISEx SOL/USDClong	+0.0559%	1h	117.07	long leg	$1.9M	$4.8M	20x