Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0351%/8h= +38.4% APRpaid last 24h +0.042%

Price spread now: RISEx against Phemex+0.042%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$220.225% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now +0.042%, 7d avg +0.015%

Together, before fees+0.161%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and RISEx is 0.027% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.015%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.111% in total (about 10.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	116.71	0.0100	pay 0.0100% / 8h	1h 16m	$45.4M	$105.2M	50x
Short	RISEx SOL/USDC	116.76	0.0451	get 0.0056% / 1h	16m 49s	$2.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Phemex. 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 PhemexbpFee RISExbpOrdersPrice spread, now +0.042%Rate

Funding earned: $73.64
Price spread: +0.042% → +0.015%: $2.72
Slippage, 4 orders: −$4.46
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $53.91
Costs to cover: 0.225%
Break-even: 1.9 days

Slippage from Phemex: live order book, 2 min ago; RISEx: live order book, 2 min ago.

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 Phemex live order book, 2 min ago	0.43 bp	8.2 bp −$8	9.0 bp −$90	16.9 bp −$1,692	doesn't fit
Sell RISEx live order book, 2 min ago	0.04 bp	3.9 bp −$4	6.5 bp −$65	doesn't fit	doesn't fit

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
Hibachi SOL/USDT-P	−0.0176%	1h	116.75	+0.034%	$97K	$693K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.61	−0.086%	$739.5M	$1.44B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.72	+0.005%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.68	−0.026%	$32.3M	$106.3M	100x	as long as short
Vest SOL-PERP	−0.0042%	1h	116.67	−0.032%	—	$628K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.68	−0.026%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.77	+0.047%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.69	−0.021%	$109K	$3.6M	8.3x	as long as short
dYdX SOL-USD	+0.0018%	1h	116.74	+0.024%	$4.3M	$23.7M	20x	as long as short
Bitget SOLUSDT	+0.0041%	8h	116.61	−0.090%	$480.4M	$460.3M	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0048%	1h	116.64	−0.063%	$2.2M	$16.9M	25x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.71	0.000%	$99K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.69	−0.019%	$8.1M	$404.4M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0065%	1h	116.72	+0.011%	$26.4M	$21.7M	50x	as long as short
Aster SOLUSDT	+0.0082%	8h	116.63	−0.069%	$176.6M	$170.9M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0086%	8h	116.65	−0.054%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.64	−0.058%	$1.0M	$553K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.60	−0.095%	$13.1M	$61.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.65	−0.049%	$351K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.66	−0.043%	$66K	$912K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.65	−0.054%	$5.5M	$41.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.73	+0.017%	$699.3M	$408.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.72	+0.010%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.62	−0.079%	$967.7M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.62	−0.077%	$367.7M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.63	−0.069%	$217K	$860K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.70	−0.011%	$900K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.74	+0.023%	$125.3M	$26.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.65	−0.051%	$850.9M	$673.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.62	−0.077%	$367.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.64	−0.057%	$133.0M	$233.5M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.63	−0.066%	—	$374.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.66	−0.043%	$23.1M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.65	−0.047%	$25.1M	$111.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.72	+0.008%	$93.7M	$409.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.73	+0.018%	$47.7M	$30.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.75	+0.035%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.76	+0.043%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.67	−0.034%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.64	−0.056%	$243K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.69	−0.019%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.68	−0.030%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.65	−0.051%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.71	−0.002%	$226.0M	$50.7M	75x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	116.71	long leg	$45.4M	$105.2M	50x
Extended SOL-USD	+0.0104%	1h	116.59	−0.105%	$8.0M	$38.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.75	+0.031%	—	$237.1M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.69	−0.017%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.76	+0.043%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.63	−0.068%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.64	−0.060%	$52.0M	$67.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.68	−0.029%	$3.5M	—	200x	as long as short
RISEx SOL/USDCshort	+0.0451%	1h	116.76	+0.042%	$2.1M	$4.9M	20x
Aftermath Perps SOLUSD	+0.0497%	1h	116.73	+0.016%	$25K	$57K	20x	as long as short