Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0085%/8hnext payment −$0.11 per $10,000 · paid last 24h −0.036%

Price spread now: Backpack against RISEx−0.006%7-day average +0.076% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.085%−$9 on $10k

Price spread, last 7 days−0.817%−$82 · spread now −0.006%, 7d avg +0.076%

Together, before fees−0.902%−$90 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Backpack is 0.082% cheaper against RISEx than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.076%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx SOL/USDC	118.04	0.0185	pay 0.0023% / 1h	7m 21s	$1.6M	$6.5M	20x
Short	Backpack SOL_USDC_PERP	118.03	0.0100	get 0.0013% / 1h	7m 21s	$24.1M	$36.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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 RISExbpFee BackpackbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$17.83
Price spread: −0.006% → +0.076%: −$8.15
Slippage, 4 orders: −$2.7
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$44.69
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 min ago; Backpack: live order book, 1 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 RISEx live order book, 1 min ago	0.04 bp	3.0 bp −$3	6.6 bp −$66	doesn't fit	doesn't fit
Sell Backpack live order book, 1 min ago	0.42 bp	5.4 bp −$5	5.6 bp −$56	7.0 bp −$704	doesn't fit

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
Injective SOL/USDC PERP	−0.0627%	1h	118.30	+0.223%	$4K	$41K	12x	as long as short
dYdX SOL-USD	−0.0129%	1h	118.02	−0.014%	$4.7M	$25.3M	20x	as long as short
Vest SOL-PERP	−0.0105%	1h	117.95	−0.071%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.99	−0.043%	$837	$8K	25x	as long as short
Derive SOL-PERP	−0.0041%	1h	117.93	−0.093%	$1.9M	$3.0M	13x	as long as short
Aftermath Perps SOLUSD	−0.0011%	1h	118.09	+0.041%	$24K	$49K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.04	+0.004%	$56K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.06	+0.020%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.04	−0.001%	$166K	$4.0M	8.3x	as long as short
HTX SOL-USDT	+0.0038%	8h	117.94	−0.079%	$230.0M	$41.9M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SOL-USDC	+0.0052%	8h	117.98	−0.048%	—	$10.4M	—	as long as short
Orderly PERP_SOL_USDC	+0.0052%	8h	118.02	−0.015%	$1.1M	$5.6M	100x	as long as short
KuCoin SOLUSDTM	+0.0053%	8h	117.99	−0.040%	$140.9M	$172.5M	75x	as long as short
Kraken Futures PF_SOLUSD	+0.0061%	1h	118.04	+0.001%	$34.1M	$84.4M	100x	as long as short
ApeX Omni SOLUSDT	+0.0064%	1h	118.04	+0.003%	$1.5M	$6.3M	50x	as long as short
Bitget SOLUSDT	+0.0065%	8h	117.96	−0.062%	$494.7M	$436.8M	100x	as long as short
Gate SOL_USDT	+0.0077%	8h	117.98	−0.048%	$857.4M	$666.5M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.02	−0.014%	$114K	$133K	20x	as long as short
OKX SOL-USDT-SWAP	+0.0085%	8h	117.98	−0.048%	$366.6M	$1.66B	100x	as long as short
Lighter SOL	+0.0096%	1h	117.97	−0.059%	$13.3M	$50.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.97	−0.057%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.95	−0.076%	$350K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	117.97	−0.053%	$1.0M	$437K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.03	−0.006%	$42K	$735K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.98	−0.044%	$5.5M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.09	+0.045%	$710.9M	$424.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.97	−0.057%	$178.1M	$169.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.01	−0.021%	$13.3M	$106.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.98	−0.052%	$965.9M	$3.64B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.98	−0.046%	$814.6M	$1.23B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.99	−0.040%	$233K	$854K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.02	−0.014%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.05	+0.011%	$131.0M	$16.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.00	−0.031%	$483.1M	$1.06B	300x	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	118.03	−0.006%	$24.1M	$36.8M	50x
Variational Omni SOL	+0.0100%	8h	117.99	−0.036%	$28.0M	$118.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.05	+0.012%	$94.8M	$384.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.04	+0.005%	$48.3M	$32.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.00	−0.031%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.02	−0.014%	$359K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.00	−0.033%	$199K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.98	−0.046%	$37K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.01	−0.021%	$191K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.99	−0.040%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.01	−0.023%	$45.9M	$96.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.98	−0.046%	$8.6M	$37.1M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	118.04	+0.005%	$7.8M	$398.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.04	+0.002%	—	$206.8M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0114%	1h	118.08	+0.041%	$26.5M	$27.2M	50x	as long as short
Phoenix SOL	+0.0149%	1h	118.13	+0.079%	$7.3M	$11.4M	25x	as long as short
Hibachi SOL/USDT-P	+0.0152%	1h	118.06	+0.024%	$118K	$557K	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0172% / S −0.0075%	1h	118.04	0.000%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	117.99	−0.040%	$1.1M	$534K	25x	as long as short
RISEx SOL/USDClong	+0.0185%	1h	118.04	long leg	$1.6M	$6.5M	20x
BloFin SOL-USDT	+0.0220%	8h	118.01	−0.023%	$51.8M	$90.2M	125x	as long as short