Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0380%/8h= −41.6% APRpaid last 24h −0.045%

Price spread now: HTX against RISEx−0.056%82s7-day average −0.030% · 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—prices read too far apart to compare

costs, in and out, $10k−$230.225% of the position

Long on RISEx Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.117%−$12 on $10k

Price spread, last 4 days (all we have)−0.450%−$45 · spread now −0.056%, 7d avg −0.030%

Together, before fees−0.567%−$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and HTX is 0.026% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.030%). Swap the legs. The two prices were read 82 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.117% in total (about -11.4% 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	116.51	0.0480	pay 0.0060% / 1h	47m 10s	$2.1M	$4.8M	20x
Short	HTX SOL-USDT	116.45	0.0100	get 0.0100% / 8h	7h 47m	$225.5M	$50.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$79.82
Price spread: −0.056% → −0.030%: −$2.63
Slippage, 4 orders: −$4.55
Fee RISEx: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$105
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; HTX: live order book, 2 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, 2 min ago	0.04 bp	3.0 bp −$3	6.0 bp −$60	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	0.00 bp	6.1 bp −$6	8.8 bp −$88	16.1 bp −$1,611	42.6 bp −$21.3K

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
Phemex SOLUSDT	−0.0130%	8h	116.47	−0.038%	$45.3M	$103.4M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.53	+0.012%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.47	−0.035%	$32.3M	$106.2M	100x	as long as short
Vest SOL-PERP	−0.0010%	1h	116.45	−0.051%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	−0.027%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.48	−0.030%	$4.3M	$23.4M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.51	−0.006%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.44	−0.064%	$99K	$3.4M	8.3x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.38	−0.115%	$1.9M	$3.0M	13x	as long as short
Bitget SOLUSDT	+0.0025%	8h	116.44	−0.061%	$480.4M	$453.4M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0036%	1h	116.51	−0.007%	$26.2M	$21.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.48	−0.031%	$7.8M	$395.3M	50x	as long as short
Bybit SOLUSDT	+0.0041%	8h	116.43	−0.073%	$732.3M	$1.41B	100x	as long as short
Aster SOLUSDT	+0.0054%	8h	116.45	−0.055%	$177.2M	$169.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0069%	8h	116.48	−0.027%	$1.0M	$6.0M	100x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	116.49	−0.024%	$103K	$680K	20x	as long as short
Lighter SOL	+0.0096%	1h	116.44	−0.063%	$13.1M	$55.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.43	−0.071%	$2.2M	$14.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.43	−0.072%	$351K	$255K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.53	+0.011%	$1.0M	$555K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.45	−0.055%	$64K	$903K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.48	−0.026%	$5.4M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.57	+0.048%	$696.4M	$406.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.53	+0.012%	$15.7M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.44	−0.064%	$963.1M	$3.84B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.44	−0.064%	$366.5M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.47	−0.038%	$219K	$851K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.49	−0.018%	$920K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.45	−0.055%	$848.8M	$607.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.44	−0.064%	$371.7M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.44	−0.063%	$129.7M	$237.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.45	−0.054%	—	$372.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.46	−0.047%	$22.9M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.45	−0.059%	$24.9M	$105.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.42	−0.081%	$93.5M	$405.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.45	−0.055%	$47.6M	$28.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.51	−0.003%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.47	−0.038%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.50	−0.012%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.49	−0.024%	$282K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.45	−0.054%	$27K	$37K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.42	−0.081%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.43	−0.073%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDTshort	+0.0100%	8h	116.45	−0.056%	$225.5M	$50.6M	75x
Bulk SOL-USD	+0.0100%	1h	116.45	−0.055%	$126.0M	$25.6M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.40	−0.102%	$8.3M	$36.6M	50x	as long as short
01 Exchange SOLUSD	+0.0120%	1h	116.53	+0.013%	$100K	$182K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.51	−0.004%	—	$231.2M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.53	+0.013%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.150%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.43	−0.070%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.44	−0.064%	$52.1M	$64.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.45	−0.053%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0414%	1h	116.45	−0.057%	$25K	$57K	20x	as long as short
RISEx SOL/USDClong	+0.0480%	1h	116.51	long leg	$2.1M	$4.8M	20x