Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0415%/8h= −45.4% APRpaid last 24h −0.049%

Price spread now: Orderly against RISEx−0.035%7-day average −0.014% · you buy dearer than you sell

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

Long on RISEx Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.129%−$13 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.035%, 7d avg −0.014%

Together, before fees−0.147%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Orderly is 0.022% cheaper against RISEx than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.129% in total (about -12.5% 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	116.24	0.0485	pay 0.0061% / 1h	0m 41s	$2.1M	$4.7M	20x
Short	Orderly PERP_SOL_USDC	116.20	0.0070	get 0.0070% / 8h	0m 41s	$1.0M	$6.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.035%Rate

Funding earned: −$87.11
Price spread: −0.035% → −0.014%: −$2.15
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$101.26
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 3 min ago; Orderly: 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 RISEx live order book, 3 min ago	0.04 bp	4.4 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
Kraken Futures PF_SOLUSD	−0.0153%	1h	116.21	−0.024%	$32.3M	$106.8M	100x	as long as short
Bybit SOLUSDT	−0.0092%	8h	116.19	−0.045%	$732.9M	$1.42B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.28	+0.029%	$1K	$8K	25x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.34	+0.084%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0022%	1h	116.19	−0.042%	—	$649K	20x	as long as short
Derive SOL-PERP	−0.0008%	1h	116.14	−0.092%	$1.8M	$3.0M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.23	−0.011%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.26	+0.015%	$1.4M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.20	−0.039%	$99K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0007%	1h	116.26	+0.019%	$4.3M	$23.5M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0016%	1h	116.23	−0.010%	$102K	$678K	20x	as long as short
Bitget SOLUSDT	+0.0024%	8h	116.17	−0.061%	$479.7M	$455.6M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.26	+0.014%	$7.8M	$396.9M	50x	as long as short
Aster SOLUSDT	+0.0053%	8h	116.20	−0.036%	$176.6M	$168.5M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0063%	1h	116.26	+0.013%	$26.2M	$21.7M	50x	as long as short
Orderly PERP_SOL_USDCshort	+0.0070%	8h	116.20	−0.035%	$1.0M	$6.1M	100x
01 Exchange SOLUSD	+0.0080%	1h	116.26	+0.015%	$100K	$181K	20x	as long as short
Lighter SOL	+0.0096%	1h	116.20	−0.032%	$13.1M	$61.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.20	−0.040%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.19	−0.042%	$350K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0096%	8h	116.23	−0.015%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.18	−0.053%	$64K	$912K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.14	−0.084%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.30	+0.050%	$695.6M	$408.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.25	+0.003%	$15.7M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.20	−0.036%	$961.7M	$3.86B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.19	−0.045%	$366.3M	$1.76B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.18	−0.053%	$217K	$854K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.18	−0.053%	$918K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.25	+0.007%	$125.4M	$25.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.20	−0.036%	$843.6M	$672.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.21	−0.028%	$370.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.24	−0.002%	$129.4M	$236.7M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.18	−0.056%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.23	−0.010%	$22.9M	$35.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.15	−0.080%	$24.8M	$107.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.16	−0.068%	$93.3M	$405.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.24	−0.002%	$47.6M	$29.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.19	−0.041%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.25	+0.007%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.21	−0.028%	$318K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.23	−0.008%	$282K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.20	−0.035%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.21	−0.028%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.18	−0.053%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.18	−0.049%	$225.0M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.23	−0.010%	$45.2M	$104.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.17	−0.060%	$8.2M	$36.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.21	−0.032%	—	$232.7M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.26	+0.015%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.19	−0.047%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.18	−0.053%	$52.0M	$64.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.22	−0.018%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0429%	1h	116.26	+0.017%	$25K	$57K	20x	as long as short
RISEx SOL/USDClong	+0.0485%	1h	116.24	long leg	$2.1M	$4.7M	20x