Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:12 UTC+0.0186%/8h= +20.4% APRpaid last 24h +0.063%

Price spread now: Reya against Perpl−0.050%7-day average +0.012% · you buy dearer than you sell

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

Long on Perpl Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.327%+$33 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now −0.050%, 7d avg +0.012%

Together, before fees+0.527%+ Points / potential airdropPerpl: Active · Reya: Active · farm board+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.062% cheaper against Perpl than usual: you would sell low and buy high (spread −0.050% now, against its 7-day average of +0.012%). If the spread goes back, that is −$6 on $10k: about 27 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	118.92	0	get 0.0000% / 43m	9m 01s	$158K	$3.9M	8.3x
Short	Reya SOLRUSDPERP	118.86	0.0186	get 0.0023% / 1h	30m 01s	$1.1M	$524K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Perpl. 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 PerplbpFee ReyabpOrdersPrice spread, now −0.050%Rate

Funding earned: $39.03
Price spread: −0.050% → +0.012%: −$6.24
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Reya: 3 bp × 2 orders: −$6
Net: $12.99
Costs to cover: 0.198%
Break-even: 4.7 days

Slippage unknown: Perpl: no order-book sample; Reya: 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 Perpl no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Perpl and Reya: 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	−0.0102%	1h	118.91	−0.003%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.91	−0.008%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.85	−0.057%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.82	−0.080%	$2.0M	$2.7M	13x	as long as short
HTX SOL-USDT	−0.0024%	8h	118.86	−0.047%	$231.3M	$44.1M	75x	as long as short
dYdX SOL-USD	−0.0017%	1h	118.98	+0.052%	$5.0M	$25.7M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.92	+0.001%	$32.4M	$96.5M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.90	−0.019%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.00	+0.066%	$1.2M	$20.2M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	118.92	long leg	$158K	$3.9M	8.3x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0032%	1h	118.89	−0.024%	$104K	$159K	20x	as long as short
Hibachi SOL/USDT-P	+0.0048%	1h	119.00	+0.065%	$101K	$657K	20x	as long as short
Phemex SOLUSDT	+0.0080%	8h	118.91	−0.007%	$46.6M	$100.3M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.98	+0.053%	—	$366.5M	—	as long as short
Orderly PERP_SOL_USDC	+0.0081%	8h	118.92	−0.003%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.95	+0.025%	$8.1M	$410.3M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0088%	1h	118.96	+0.032%	$26.7M	$24.8M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.90	−0.012%	$14.2M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.90	−0.015%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.89	−0.024%	$348K	$250K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.91	−0.010%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.92	+0.002%	$47K	$778K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.90	−0.011%	$5.9M	$40.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.10	+0.153%	$721.9M	$399.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.95	+0.025%	$179.2M	$176.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.94	+0.019%	$12.2M	$123.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.99	+0.061%	$979.7M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.04	+0.103%	$824.4M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.00	+0.069%	$371.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.95	+0.027%	$233K	$842K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.93	+0.009%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.80	−0.099%	$134.2M	$6.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	118.98	+0.052%	$859.1M	$665.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.95	+0.027%	$429.2M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.01	+0.076%	$138.3M	$202.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.98	+0.052%	$493.8M	$441.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.99	+0.061%	$24.2M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.98	+0.049%	$27.0M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.94	+0.020%	$95.5M	$404.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.92	+0.002%	$48.7M	$29.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.98	+0.056%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.86	−0.049%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.87	−0.040%	$358K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.88	−0.032%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.89	−0.024%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.89	−0.024%	$6.3M	$10.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	118.97	+0.040%	$8.6M	$35.2M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.01	+0.077%	$6.5M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.89	−0.023%	—	$219.5M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.91	−0.011%	$1.8M	$4.6M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	118.89	−0.020%	$3.7M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0172%	1h	118.93	+0.011%	$25K	$50K	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	118.66	−0.217%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERPshort	+0.0186%	1h	118.86	−0.050%	$1.1M	$524K	25x
BloFin SOL-USDT	+0.0220%	8h	118.96	+0.035%	$51.9M	$77.5M	125x	as long as short