Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0047%/8hpaid last 24h −0.009%

Price spread now: Orderly against Bullet−0.005%56s7-day average +0.011% · you buy dearer than you sell

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

Long on Bullet Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.041%+$4 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now −0.005%, 7d avg +0.011%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SOL-USD	117.70	0.0100	pay 0.0013% / 1h	42m 23s	$207K	$1.7M	20x
Short	Orderly PERP_SOL_USDC	117.69	0.0053	get 0.0053% / 8h	4h 42m	$1.1M	$5.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bullet. 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 BulletbpFee OrderlybpOrdersPrice spread, now −0.005%Rate

Funding earned: −$9.95
Price spread: −0.005% → +0.011%: −$1.59
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25.53
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Bullet: live order book, 1 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 Bullet live order book, 1 min ago	0.30 bp	6.8 bp −$7	8.9 bp −$89	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
Injective SOL/USDC PERP	−0.0627%	1h	117.70	+0.001%	$4K	$41K	12x	as long as short
dYdX SOL-USD	−0.0250%	1h	117.74	+0.033%	$5.2M	$24.4M	20x	as long as short
Vest SOL-PERP	−0.0096%	1h	117.62	−0.065%	—	$728K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.60	−0.086%	$834	$8K	25x	as long as short
Derive SOL-PERP	−0.0066%	1h	117.61	−0.075%	$1.9M	$3.0M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.76	+0.052%	$58K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.68	−0.018%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.72	+0.014%	$172K	$4.0M	8.3x	as long as short
HTX SOL-USDT	+0.0002%	8h	117.55	−0.126%	$229.3M	$41.7M	75x	as long as short
Aftermath Perps SOLUSD	+0.0002%	1h	117.60	−0.085%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0040%	1h	117.59	−0.093%	$1.6M	$6.3M	50x	as long as short
KuCoin SOLUSDTM	+0.0046%	8h	117.67	−0.023%	$140.2M	$170.2M	75x	as long as short
BingX SOL-USDT	+0.0047%	8h	117.73	+0.024%	—	$359.4M	—	as long as short
Orderly PERP_SOL_USDCshort	+0.0053%	8h	117.69	−0.005%	$1.1M	$5.5M	100x
Bitget SOLUSDT	+0.0060%	8h	117.68	−0.020%	$494.0M	$435.9M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0061%	1h	117.73	+0.029%	$34.0M	$83.7M	100x	as long as short
OKX SOL-USDT-SWAP	+0.0065%	8h	117.66	−0.033%	$366.7M	$1.65B	100x	as long as short
Gate SOL_USDT	+0.0068%	8h	117.68	−0.016%	$860.4M	$652.1M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.72	+0.017%	$13.4M	$48.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.70	+0.003%	$2.0M	$16.6M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.74	+0.035%	$114K	$132K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.65	−0.040%	$348K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	117.69	−0.010%	$1.0M	$437K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.71	+0.009%	$43K	$719K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.60	−0.083%	$5.4M	$39.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.79	+0.077%	$707.1M	$425.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.69	−0.007%	$177.1M	$169.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.74	+0.032%	$13.3M	$104.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.68	−0.018%	$958.4M	$3.60B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.70	+0.001%	$815.7M	$1.22B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.67	−0.025%	$232K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.65	−0.044%	$1.8M	$8.3M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.65	−0.042%	$128.6M	$16.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.68	−0.016%	$425.1M	$1.04B	300x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.72	+0.018%	$24.1M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.47	−0.192%	$27.8M	$117.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.59	−0.097%	$94.4M	$381.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.60	−0.088%	$48.1M	$32.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.63	−0.059%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.72	+0.018%	$382K	$2.2M	20x	as long as short
Bullet SOL-USDlong	+0.0100%	1h	117.70	long leg	$207K	$1.7M	20x
Bluefin SOL-PERP	+0.0100%	1h	117.67	−0.029%	$37K	$13K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.63	−0.061%	$191K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.69	−0.008%	$6.1M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.67	−0.025%	$45.7M	$95.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.66	−0.033%	$8.6M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	117.77	+0.057%	$7.8M	$390.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	117.73	+0.024%	—	$205.7M	500x	as long as short
Phoenix SOL	+0.0149%	1h	117.71	+0.009%	$7.3M	$11.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0151%	1h	117.78	+0.065%	$26.5M	$27.1M	50x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0174% / S −0.0077%	1h	117.69	−0.010%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	117.67	−0.028%	$1.1M	$531K	25x	as long as short
RISEx SOL/USDC	+0.0185%	1h	117.72	+0.020%	$1.6M	$6.8M	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.68	−0.016%	$51.7M	$91.5M	125x	as long as short
Hibachi SOL/USDT-P	+0.0232%	1h	117.59	−0.094%	$116K	$524K	20x	as long as short