Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0068%/8h= +7.5% APRpaid last 24h +0.027%

Price spread now: Orderly against dYdX−0.042%7-day average −0.004% · you buy dearer than you sell

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

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now −0.042%, 7d avg −0.004%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.038% cheaper against dYdX than usual: you would sell low and buy high (spread −0.042% now, against its 7-day average of −0.004%). If the spread goes back, that is −$4 on $10k: about 44 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX SOL-USD	119.28	−0.0001	get 0.0000% / 1h	26m 16s	$4.9M	$27.2M	20x
Short	Orderly PERP_SOL_USDC	119.23	0.0067	get 0.0067% / 8h	1h 26m	$1.1M	$5.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now −0.042%Rate

Funding earned: $14.37
Price spread: −0.042% → −0.004%: −$3.8
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$5.43
Costs to cover: 0.160%
Break-even: 9.6 days

Slippage unknown: dYdX: live order book, 3 min ago; Orderly: 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 dYdX live order book, 3 min ago	2.93 bp	11.7 bp −$12	28.6 bp −$286	31.1 bp −$3,112	31.3 bp −$15.7K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0117%	1h	118.34	−0.792%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0086%	1h	119.14	−0.122%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.26	−0.020%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0061%	1h	119.19	−0.081%	—	$722K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0005% / S +0.0004%	1h	119.25	−0.029%	$106K	—	150x	as long as short
dYdX SOL-USDlong	−0.0001%	1h	119.28	long leg	$4.9M	$27.2M	20x
Kalshi KXSOLPERP	0.0000%	8h	119.20	−0.071%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.26	−0.021%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	119.27	−0.008%	$119K	$611K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.24	−0.036%	$6.5M	$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
Orderly PERP_SOL_USDCshort	+0.0067%	8h	119.23	−0.042%	$1.1M	$5.9M	100x
Aftermath Perps SOLUSD	+0.0079%	1h	119.30	+0.018%	$24K	$47K	20x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	119.24	−0.036%	$104K	$154K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.23	−0.046%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0083%	8h	119.04	−0.205%	$231.8M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0087%	8h	119.22	−0.053%	$870.4M	$683.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.12	−0.137%	$13.6M	$55.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.11	−0.147%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.16	−0.107%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.15	−0.115%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.21	−0.061%	$47K	$794K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.21	−0.061%	$6.2M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.33	+0.039%	$718.2M	$416.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.23	−0.047%	$178.5M	$176.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.26	−0.022%	$12.3M	$117.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.12	−0.137%	$985.0M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.11	−0.144%	$823.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.09	−0.162%	$371.2M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.31	+0.022%	$234K	$886K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.24	−0.038%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.16	−0.107%	$133.7M	$8.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.12	−0.137%	$451.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.13	−0.127%	$140.3M	$201.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.08	−0.171%	$494.8M	$455.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.30	+0.014%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	−0.019%	$27.9M	$128.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.21	−0.062%	$95.7M	$400.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.31	+0.020%	$48.8M	$31.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.25	−0.025%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.28	−0.003%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.23	−0.045%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.23	−0.046%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.24	−0.039%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.12	−0.137%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.14	−0.120%	$46.5M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.16	−0.104%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.17	−0.098%	$8.2M	$415.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.28	−0.006%	—	$223.3M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0124%	1h	119.25	−0.025%	$26.7M	$27.6M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	119.12	−0.134%	$32.6M	$95.8M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0085%	1h	119.25	−0.029%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.22	−0.056%	$1.1M	$557K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.24	−0.033%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.081%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.28	−0.003%	$52.3M	$82.8M	125x	as long as short