Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0243%/8h= −26.6% APRpaid last 24h −0.046%

Price spread now: Bybit against Reya+0.002%106s7-day average +0.024% · you sell dearer than you buy

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

Long on Reya Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.163%−$16 on $10k

Price spread, last 7 days+0.038%+$4 · spread now +0.002%, 7d avg +0.024%

Together, before fees−0.125%+ Points / potential airdropReya: Active · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.022% cheaper against Reya than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.024%). Swap the legs. The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya SOLRUSDPERP	117.08	0.0199	pay 0.0025% / 1h	18m 34s	$1.1M	$93K	25x
Short	Bybit SOLUSDT	117.08	−0.0044	pay 0.0044% / 8h	6h 18m	$733.9M	$1.26B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. 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 ReyabpFee BybitbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$51.02
Price spread: +0.002% → +0.024%: −$2.21
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$70.22
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 4 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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	0.43 bp	6.1 bp −$6	7.1 bp −$71	11.8 bp −$1,176	22.7 bp −$11.3K

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 54 exchanges

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	−0.0773%	1h	117.05	−0.023%	$27K	$35K	25x	as long as short
Hibachi SOL/USDT-P	−0.0176%	1h	117.12	+0.033%	$99K	$649K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.07	−0.006%	$1K	$8K	25x	as long as short
Bybit SOLUSDTshort	−0.0044%	8h	117.08	+0.002%	$733.9M	$1.26B	100x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.05	−0.026%	$39K	—	150x	as long as short
Perpl SOL	0.0000%	43m	117.08	+0.005%	$100K	$2.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.10	+0.019%	$26.3M	$18.7M	50x	as long as short
Vest SOL-PERP	0.0000%	1h	117.06	−0.013%	—	$284K	20x	as long as short
Bitget SOLUSDT	+0.0027%	8h	117.14	+0.058%	$483.0M	$408.5M	100x	as long as short
Injective SOL/USDC PERP	+0.0033%	1h	116.85	−0.194%	$4K	$122	12x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.08	0.000%	$8.4M	$374.8M	50x	as long as short
Aster SOLUSDT	+0.0044%	8h	117.08	−0.001%	$177.6M	$158.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	117.03	−0.037%	$1.0M	$5.3M	100x	as long as short
SoDEX SOL-USD	+0.0067%	1h	117.04	−0.032%	$6.2M	$11.1M	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.20	+0.105%	$101K	$181K	20x	as long as short
Gate SOL_USDT	+0.0077%	8h	117.11	+0.028%	$850.9M	$600.0M	100x	as long as short
MEXC SOL_USDT	+0.0092%	8h	117.12	+0.036%	$431.1M	$993.4M	300x	as long as short
Binance SOLUSDT	+0.0093%	8h	117.08	+0.004%	$966.9M	$3.49B	100x	as long as short
ApeX Omni SOLUSDT	+0.0095%	1h	117.18	+0.087%	$1.1M	$6.7M	50x	as long as short
Lighter SOL	+0.0096%	1h	117.10	+0.020%	$13.2M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.08	+0.002%	$2.2M	$13.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.99	−0.071%	$349K	$257K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.10	+0.021%	$1.0M	$557K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.15	+0.062%	$45K	$864K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.07	−0.004%	$5.6M	$39.4M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.13	+0.046%	$15.9M	$116.6M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.13	+0.045%	$360.7M	$1.58B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.18	+0.087%	$222K	$775K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.20	+0.103%	$901K	$7.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.25	+0.150%	$127.0M	$16.9M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.10	+0.021%	$134.0M	$229.5M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.14	+0.049%	—	$339.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.06	−0.015%	$23.2M	$35.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.07	−0.006%	$25.1M	$100.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.16	+0.072%	$94.1M	$383.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.14	+0.056%	$47.9M	$25.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.14	+0.053%	$1.3M	$10.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.04	−0.032%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.06	−0.011%	$285K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.05	−0.027%	$190K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.10	+0.017%	$226.5M	$41.6M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.06	−0.015%	$45.4M	$101.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0101%	8h	117.11	+0.024%	$1.3M	$16.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.10	+0.019%	$8.5M	$33.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.09	+0.014%	—	$213.5M	500x	as long as short
dYdX SOL-USD	+0.0126%	1h	117.12	+0.033%	$9.3M	$18.3M	20x	as long as short
Phoenix SOL	+0.0129%	1h	117.26	+0.156%	$6.6M	$12.8M	25x	as long as short
Hyperliquid SOL	+0.0161%	1h	117.22	+0.122%	$718.6M	$375.0M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0185%	1h	117.08	−0.001%	$32.5M	$93.6M	100x	as long as short
Reya SOLRUSDPERPlong	+0.0199%	1h	117.08	long leg	$1.1M	$93K	25x
BloFin SOL-USDT	+0.0213%	8h	117.04	−0.032%	$51.6M	$57.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0170%	1h	117.06	−0.015%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0273%	1h	117.22	+0.121%	$2.2M	$4.5M	20x	as long as short
Aftermath Perps SOLUSD	+0.0403%	1h	117.13	+0.047%	$25K	$54K	20x	as long as short