Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0092%/8h= −10.0% APRpaid last 24h −0.040%

Price spread now: Phemex against RISEx+0.007%7-day average −0.009% · 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−$23as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on RISEx Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.091%−$9 on $10k

Price spread, last 3 days (all we have)−0.164%−$16 · spread now +0.007%, 7d avg −0.009%

Together, before fees−0.254%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx SOL/USDC	119.38	0.0192	pay 0.0024% / 1h	45m 55s	$1.6M	$6.0M	20x
Short	Phemex SOLUSDT	119.39	0.0100	get 0.0100% / 8h	1h 45m	$46.6M	$102.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$19.24
Price spread: +0.007% → −0.009%: $1.6
Slippage, 4 orders: −$6.15
Fee RISEx: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.79
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago	0.04 bp	6.1 bp −$6	9.3 bp −$93	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.42 bp	7.5 bp −$8	8.0 bp −$80	15.3 bp −$1,531	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
Bluefin SOL-PERP	−0.0705%	1h	119.40	+0.018%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0080%	1h	119.33	−0.043%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.42	+0.029%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.31	−0.062%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0003%	1h	119.37	−0.011%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.42	+0.032%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.43	+0.041%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.36	−0.019%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0008%	1h	119.31	−0.064%	$120K	$610K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.20	−0.152%	$6.6M	$13.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SOLUSD	+0.0059%	1h	119.29	−0.075%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0065%	8h	119.43	+0.039%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0070%	8h	119.27	−0.092%	$232.3M	$44.5M	75x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.44	+0.050%	—	$10.5M	—	as long as short
01 Exchange SOLUSD	+0.0088%	1h	119.37	−0.010%	$104K	$153K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.43	+0.043%	$13.6M	$55.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.42	+0.034%	$2.1M	$16.7M	25x	as long as short
Gate SOL_USDT	+0.0096%	8h	119.45	+0.057%	$870.7M	$677.7M	100x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.42	+0.031%	$354K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.29	−0.074%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.32	−0.052%	$46K	$789K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.35	−0.023%	$6.3M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.53	+0.124%	$721.1M	$414.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.47	+0.074%	$178.8M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.36	−0.020%	$12.4M	$116.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.46	+0.067%	$984.5M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.52	+0.114%	$826.0M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.48	+0.082%	$372.4M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.25	−0.111%	$234K	$883K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.39	+0.009%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.15	−0.193%	$133.6M	$9.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.45	+0.057%	$437.1M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.46	+0.062%	$140.9M	$199.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.44	+0.052%	$496.6M	$453.9M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.46	+0.065%	$24.1M	$38.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.16	−0.182%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.18	−0.172%	$95.7M	$398.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.10	−0.236%	$48.7M	$32.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.10	−0.236%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.44	+0.049%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.37	−0.010%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.40	+0.012%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.33	−0.045%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.43	+0.040%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	119.39	+0.007%	$46.6M	$102.0M	50x
Extended SOL-USD	+0.0104%	1h	119.42	+0.035%	$8.7M	$36.4M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.48	+0.085%	$8.2M	$415.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.37	−0.011%	—	$221.8M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.45	+0.061%	$32.7M	$94.9M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.42	+0.034%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.37	−0.011%	$1.1M	$558K	25x	as long as short
RISEx SOL/USDClong	+0.0192%	1h	119.38	long leg	$1.6M	$6.0M	20x
Deribit SOL_USDC-PERPETUAL	+0.0210%	1h	119.51	+0.105%	$26.8M	$27.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.211%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.36	−0.018%	$52.2M	$84.6M	125x	as long as short