Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.008%

Price spread now: Orderly against Bulk−0.015%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 Bulk Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now −0.015%, 7d avg −0.016%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk SOL-USD	116.33	0.0100	pay 0.0013% / 1h	52m 07s	$125.6M	$25.5M	20x
Short	Orderly PERP_SOL_USDC	116.31	0.0069	get 0.0069% / 8h	7h 52m	$1.0M	$6.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bulk. 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 BulkbpFee OrderlybpOrdersPrice spread, now −0.015%Rate

Funding earned: −$6.44
Price spread: −0.015% → −0.016%: $0.12
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$19.31
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 2 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 Bulk live order book, 2 min ago	4.30 bp	7.8 bp −$8	7.8 bp −$78	7.8 bp −$780	13.5 bp −$6,731
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
Hotstuff SOL-PERP	−0.0080%	1h	116.32	−0.006%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.30	−0.020%	$32.3M	$106.8M	100x	as long as short
Vest SOL-PERP	−0.0014%	1h	116.34	+0.009%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.31	−0.016%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.38	+0.046%	$4.3M	$23.4M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.34	+0.014%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.38	+0.046%	$99K	$3.4M	8.3x	as long as short
Phemex SOLUSDT	0.0000%	8h	116.32	−0.006%	$45.2M	$103.7M	50x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.38	+0.047%	$1.9M	$3.0M	13x	as long as short
Bitget SOLUSDT	+0.0025%	8h	116.31	−0.013%	$479.9M	$455.0M	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	+0.0039%	1h	116.34	+0.010%	$26.2M	$21.9M	50x	as long as short
Gate SOL_USDT	+0.0040%	8h	116.29	−0.032%	$847.7M	$606.2M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.30	−0.024%	$7.8M	$395.7M	50x	as long as short
Bybit SOLUSDT	+0.0048%	8h	116.30	−0.023%	$731.6M	$1.41B	100x	as long as short
Aster SOLUSDT	+0.0054%	8h	116.32	−0.006%	$176.7M	$169.3M	100x	as long as short
Hibachi SOL/USDT-P	+0.0056%	1h	116.41	+0.073%	$103K	$680K	20x	as long as short
Orderly PERP_SOL_USDCshort	+0.0069%	8h	116.31	−0.015%	$1.0M	$6.0M	100x
Lighter SOL	+0.0096%	1h	116.28	−0.043%	$13.1M	$55.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.27	−0.047%	$2.1M	$14.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.27	−0.047%	$351K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.33	+0.001%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.34	+0.011%	$64K	$903K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.35	+0.020%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.43	+0.089%	$695.5M	$406.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.36	+0.025%	$15.7M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.30	−0.021%	$962.2M	$3.85B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.32	−0.006%	$366.3M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.07	−0.221%	$219K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.36	+0.025%	$919K	$8.5M	20x	as long as short
Bulk SOL-USDlong	+0.0100%	1h	116.33	long leg	$125.6M	$25.5M	20x
MEXC SOL_USDT	+0.0100%	8h	116.31	−0.015%	$369.5M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.31	−0.015%	$129.7M	$237.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.32	−0.008%	—	$372.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.31	−0.015%	$22.8M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.26	−0.061%	$24.8M	$105.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.10	−0.191%	$93.2M	$404.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.33	+0.001%	$47.6M	$29.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.14	−0.158%	$1.1M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.35	+0.020%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.39	+0.054%	$318K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.35	+0.022%	$282K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.32	−0.008%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.30	−0.023%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.27	−0.049%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.26	−0.061%	$225.1M	$50.7M	75x	as long as short
Extended SOL-USD	+0.0104%	1h	116.24	−0.078%	$8.3M	$36.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.41	+0.073%	—	$231.7M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.35	+0.020%	$6.5M	$13.4M	25x	as long as short
01 Exchange SOLUSD	+0.0128%	1h	116.39	+0.054%	$100K	$181K	20x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	+0.011%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.32	−0.009%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.37	+0.037%	$52.5M	$64.4M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.34	+0.015%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0421%	1h	116.35	+0.024%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.44	+0.096%	$2.1M	$4.7M	20x	as long as short