Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.047%

Price spread now: RISEx against Orderly+0.092%7-day average +0.007% · you sell dearer than you buy

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

Long on Orderly Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 3 days (all we have)+0.385%+$39 · spread now +0.092%, 7d avg +0.007%

Together, before fees+0.482%+$48 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 RISEx is 0.085% dearer against Orderly than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SOL_USDC	119.09	0.0054	pay 0.0054% / 8h	3h 32m	$1.1M	$5.8M	100x
Short	RISEx SOL/USDC	119.20	0.0160	get 0.0020% / 1h	32m 37s	$1.6M	$6.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.092%Rate

Funding earned: $22.21
Price spread: +0.092% → +0.007%: $8.5
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee RISEx: 3 bp × 2 orders: −$6
Net: $18.71
Costs to cover: 0.120%
Break-even: 1.1 days

Slippage unknown: Orderly: no order-book sample; RISEx: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell RISEx live order book, 2 min ago	0.04 bp	5.4 bp −$5	9.0 bp −$90	doesn't fit	doesn't fit

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
Vest SOL-PERP	−0.0097%	1h	119.04	−0.040%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.26	+0.144%	$846	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0039%	1h	119.04	−0.041%	$24K	$48K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	119.29	+0.166%	$4.9M	$26.4M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.12	+0.024%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.23	+0.113%	$1.2M	$20.9M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.07	−0.015%	$164K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.14	+0.043%	$26.7M	$27.7M	50x	as long as short
Derive SOL-PERP	+0.0003%	1h	119.03	−0.054%	$2.0M	$3.0M	13x	as long as short
01 Exchange SOLUSD	+0.0016%	1h	119.20	+0.091%	$105K	$148K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0051%	8h	119.21	+0.101%	$232.4M	$43.0M	75x	as long as short
Orderly PERP_SOL_USDClong	+0.0054%	8h	119.09	long leg	$1.1M	$5.8M	100x
KuCoin SOLUSDTM	+0.0064%	8h	119.28	+0.160%	$135.5M	$181.3M	75x	as long as short
Bitget SOLUSDT	+0.0078%	8h	119.19	+0.084%	$498.1M	$447.1M	100x	as long as short
Gate SOL_USDT	+0.0080%	8h	119.30	+0.175%	$862.0M	$673.2M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.27	+0.153%	$13.4M	$51.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.33	+0.196%	$2.1M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.09	0.000%	$354K	$749K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	119.19	+0.086%	$1.0M	$482K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.22	+0.107%	$48K	$777K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.06	−0.030%	$5.6M	$40.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.44	+0.292%	$720.7M	$432.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.30	+0.173%	$180.0M	$172.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.31	+0.182%	$13.5M	$108.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.14	+0.040%	$976.5M	$3.71B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.16	+0.060%	$821.9M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.21	+0.099%	$368.3M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.24	+0.124%	$236K	$861K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.25	+0.137%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.26	+0.139%	$133.2M	$15.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.23	+0.116%	$475.9M	$1.05B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	119.21	+0.100%	—	$366.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.33	+0.200%	$24.4M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.20	+0.088%	$27.6M	$120.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.17	+0.063%	$95.7M	$390.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.18	+0.074%	$48.8M	$33.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.39	+0.248%	$1.5M	$6.3M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.22	+0.107%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.06	−0.027%	$361K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.09	+0.002%	$199K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.10	+0.004%	$38K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.07	−0.017%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.08	−0.010%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.30	+0.175%	$46.6M	$98.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.18	+0.073%	$8.7M	$36.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	119.15	+0.047%	$8.1M	$408.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	119.16	+0.061%	—	$213.9M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0131%	1h	119.12	+0.024%	$36.4M	$90.5M	100x	as long as short
Hibachi SOL/USDT-P	+0.0136%	1h	119.21	+0.100%	$130K	$580K	20x	as long as short
Phoenix SOL	+0.0149%	1h	119.25	+0.133%	$7.2M	$11.3M	25x	as long as short
RISEx SOL/USDCshort	+0.0160%	1h	119.20	+0.092%	$1.6M	$6.5M	20x
Reya SOLRUSDPERP	+0.0181%	1h	119.06	−0.029%	$1.1M	$552K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.33	+0.200%	$51.6M	$90.0M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0180%	1h	119.12	+0.027%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0533%	1h	118.29	−0.673%	$4K	$2K	12x	as long as short