Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h +0.025%

Price spread now: GMX against Orderly−0.010%7-day average +0.032% · you buy dearer than you sell

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.084%+$8 on $10k

Price spread, last 3 days (all we have)+0.115%+$11 · spread now −0.010%, 7d avg +0.032%

Together, before fees+0.199%+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GMX is 0.042% cheaper against Orderly than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SOL_USDC	119.21	0.0068	pay 0.0068% / 8h	1h 16m	$1.1M	$5.9M	100x
Short	GMX SOL/USD [SOL-USDC]	119.20	L +0.0170% / S −0.0072%	get 0.0009% / 1h	16m 25s	$3.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0.93
Price spread: −0.010% → +0.032%: −$4.16
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: −$21.22
Costs to cover: 0.180%
Break-even: 166.4 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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
Bluefin SOL-PERP	−0.0367%	1h	119.20	−0.009%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0107%	1h	119.11	−0.086%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.18	−0.031%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0063%	1h	119.18	−0.026%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.23	+0.014%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.21	−0.004%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.27	+0.051%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.24	+0.021%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0040%	1h	119.29	+0.065%	$119K	$612K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.36	+0.123%	$6.5M	$13.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SOLUSD	+0.0064%	1h	119.29	+0.064%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDClong	+0.0068%	8h	119.21	long leg	$1.1M	$5.9M	100x
01 Exchange SOLUSD	+0.0072%	1h	119.26	+0.039%	$104K	$155K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.28	+0.058%	—	$374.2M	—	as long as short
HTX SOL-USDT	+0.0081%	8h	119.19	−0.018%	$232.1M	$45.0M	75x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0085%	1h	119.25	+0.033%	$26.7M	$27.7M	50x	as long as short
Gate SOL_USDT	+0.0092%	8h	119.22	+0.006%	$870.0M	$686.1M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.21	−0.006%	$13.6M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.21	−0.003%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.16	−0.043%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.17	−0.038%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.29	+0.065%	$46K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.19	−0.023%	$6.1M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.31	+0.081%	$718.8M	$417.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.27	+0.048%	$178.6M	$176.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.29	+0.062%	$12.3M	$118.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.22	+0.006%	$984.6M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.26	+0.039%	$827.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.22	+0.006%	$372.7M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.28	+0.056%	$233K	$886K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.32	+0.089%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.28	+0.058%	$133.9M	$7.8M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.22	+0.006%	$459.9M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.27	+0.044%	$140.3M	$201.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.23	+0.014%	$495.7M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.21	−0.003%	$24.1M	$38.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.34	+0.107%	$27.4M	$128.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.38	+0.137%	$95.9M	$401.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.25	+0.031%	$48.8M	$31.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.36	+0.125%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.25	+0.031%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.22	+0.006%	$367K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.21	+0.002%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.18	−0.030%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.18	−0.028%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.21	−0.003%	$46.6M	$102.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.25	+0.032%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.22	+0.004%	$8.2M	$416.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.26	+0.040%	—	$224.1M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	119.19	−0.019%	$32.6M	$95.9M	100x	as long as short
GMX SOL/USD [SOL-USDC]short	L +0.0170% / S −0.0072%	1h	119.20	−0.010%	$3.7M	—	200x
Reya SOLRUSDPERP	+0.0182%	1h	119.20	−0.008%	$1.1M	$552K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.32	+0.086%	$1.7M	$5.8M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.140%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.22	+0.006%	$52.1M	$82.8M	125x	as long as short