Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h +0.032%

Price spread now: OKX against Derive+0.051%7-day average +0.020% · you sell dearer than you buy

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

Long on Derive Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now +0.051%, 7d avg +0.020%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and OKX is 0.030% dearer against Derive than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive SOL-PERP	117.48	0.0017	pay 0.0002% / 1h	59m 05s	$2.0M	$2.8M	13x
Short	OKX SOL-USDT-SWAP	117.54	0.0100	get 0.0100% / 8h	5h 59m	$366.4M	$1.64B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Derive. 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 DerivebpFee OKXbpOrdersPrice spread, now +0.051%Rate

Funding earned: $17.51
Price spread: +0.051% → +0.020%: $3.03
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: $4.54
Costs to cover: 0.160%
Break-even: 5.2 days

Slippage unknown: Derive: no order-book sample; OKX: live order book, 5 min ago. 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 Derive no order-book sample	—	—	—	—	—
Sell OKX live order book, 5 min ago	0.43 bp	5.4 bp −$5	5.7 bp −$57	9.3 bp −$933	22.3 bp −$11.1K

Derive: 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 54 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	117.59	+0.098%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.47	−0.009%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.55	+0.057%	$31.5M	$98.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.54	+0.053%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.57	+0.076%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.61	+0.108%	$1.4M	$20.1M	3.1x	as long as short
Derive SOL-PERPlong	+0.0017%	1h	117.48	long leg	$2.0M	$2.8M	13x
HTX SOL-USDT	+0.0037%	8h	117.44	−0.034%	$228.2M	$45.4M	75x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.58	+0.085%	$100K	$162K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0052%	1h	117.59	+0.093%	$26.4M	$25.4M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0064%	1h	117.41	−0.057%	$100K	$690K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.58	+0.089%	$8.0M	$403.9M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.50	+0.012%	—	$10.6M	—	as long as short
Gate SOL_USDT	+0.0083%	8h	117.54	+0.051%	$849.1M	$640.8M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.56	+0.065%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.55	+0.060%	$13.0M	$58.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.54	+0.050%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.56	+0.064%	$344K	$225K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.56	+0.069%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.52	+0.034%	$67K	$840K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.48	+0.004%	$5.8M	$40.2M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.55	+0.059%	$176.4M	$177.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.60	+0.102%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.56	+0.064%	$969.2M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.57	+0.076%	$820.7M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAPshort	+0.0100%	8h	117.54	+0.051%	$366.4M	$1.64B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	117.37	−0.094%	$238K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.59	+0.094%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.55	+0.059%	$423.1M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.56	+0.066%	$130.6M	$211.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.53	+0.047%	$487.2M	$435.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.55	+0.059%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.45	−0.022%	$24.3M	$120.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.44	−0.038%	$94.3M	$405.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.43	−0.047%	$48.1M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.44	−0.034%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.41	−0.060%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.53	+0.042%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.53	+0.041%	$201K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.53	+0.042%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.54	+0.051%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.55	+0.059%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.57	+0.076%	$45.8M	$100.4M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.46	−0.021%	$134.5M	$14.2M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.53	+0.042%	$6.5M	$13.2M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.52	+0.031%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.39	−0.075%	—	$221.7M	500x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.60	+0.103%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0178%	1h	117.65	+0.144%	$717.8M	$395.3M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.52	+0.035%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	−0.026%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.54	+0.054%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0360%	1h	117.55	+0.059%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.57	+0.078%	$128K	$3.8M	8.3x	as long as short