Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:20 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.080%

Price spread now: Perpl against RISEx−0.048%7-day average −0.016% · you buy dearer than you sell

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

Long on RISEx Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.295%−$29 on $10k

Price spread, last 7 days+0.076%+$8 · spread now −0.048%, 7d avg −0.016%

Together, before fees−0.219%+ Points / potential airdropPerpl: Active · farm board−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Perpl is 0.032% cheaper against RISEx than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx SOL/USDC	119.08	0.0175	pay 0.0022% / 1h	34m 55s	$1.6M	$6.1M	20x
Short	Perpl SOL	119.03	0	get 0.0000% / 43m	21m 55s	$180K	$4.0M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$36.79
Price spread: −0.048% → −0.016%: −$3.2
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$59.79
Costs to cover: 0.198%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 4 min ago; 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 RISEx live order book, 4 min ago	0.04 bp	5.4 bp −$5	7.3 bp −$73	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

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	−0.163%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.99	−0.083%	$2.0M	$3.2M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.96	−0.107%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.98	−0.086%	—	$724K	20x	as long as short
Aftermath Perps SOLUSD	−0.0019%	1h	118.93	−0.132%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.07	−0.014%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.96	−0.100%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	119.03	−0.048%	$180K	$4.0M	8.3x
dYdX SOL-USD	0.0000%	1h	119.00	−0.074%	$4.9M	$26.9M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0023%	1h	119.13	+0.034%	$26.7M	$27.6M	50x	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	+0.0060%	8h	119.08	−0.001%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0066%	8h	118.96	−0.105%	$231.8M	$43.6M	75x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.07	−0.012%	$104K	$152K	20x	as long as short
ApeX Omni SOLUSDT	+0.0075%	1h	119.12	+0.029%	$1.5M	$6.2M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.07	−0.014%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	119.00	−0.074%	$122K	$600K	20x	as long as short
Gate SOL_USDT	+0.0085%	8h	119.07	−0.012%	$868.2M	$680.4M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.06	−0.018%	$13.5M	$53.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.06	−0.022%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.06	−0.025%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.01	−0.061%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.04	−0.038%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.04	−0.038%	$5.5M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.18	+0.080%	$718.7M	$413.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.08	−0.002%	$179.8M	$174.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.06	−0.025%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.11	+0.022%	$972.9M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.12	+0.030%	$823.7M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.09	+0.004%	$370.6M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.95	−0.113%	$234K	$863K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.09	+0.008%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.09	+0.004%	$470.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.06	−0.020%	$143.3M	$196.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.10	+0.012%	$497.1M	$448.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.12	+0.030%	$24.4M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.00	−0.070%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.71	−0.315%	$95.3M	$397.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.11	+0.019%	$48.7M	$33.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.01	−0.063%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.04	−0.038%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.04	−0.037%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.07	−0.016%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.05	−0.029%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.06	−0.021%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.05	−0.029%	$46.5M	$99.9M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	−0.315%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.09	+0.001%	$8.6M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.11	+0.025%	$8.1M	$414.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.06	−0.025%	—	$217.0M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.03	−0.046%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDClong	+0.0175%	1h	119.08	long leg	$1.6M	$6.1M	20x
Reya SOLRUSDPERP	+0.0180%	1h	119.03	−0.042%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.03	−0.046%	$51.8M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.09	+0.003%	$36.0M	$89.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	119.06	−0.021%	$3.6M	—	200x	as long as short