Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:40 UTC+0.0195%/8h= +21.3% APRpaid last 24h +0.053%

Price spread now: Reya against Perpl+0.040%58s7-day average 0.000% · you sell dearer than you buy

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

Long on Perpl Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.323%+$32 on $10k

Price spread, last 7 days−0.069%−$7 · spread now +0.040%, 7d avg 0.000%

Together, before fees+0.254%+ Points / potential airdropPerpl: Active · Reya: Active · farm board+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Reya is 0.040% dearer against Perpl than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of 0.000%. The two prices were read 58 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	Perpl SOL	116.68	0	get 0.0000% / 43m	12m 00s	$106K	$3.5M	8.3x
Short	Reya SOLRUSDPERP	116.73	0.0195	get 0.0024% / 1h	6m 00s	$1.1M	$545K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Perpl. 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 PerplbpFee ReyabpOrdersPrice spread, now +0.040%Rate

Funding earned: $40.86
Price spread: +0.040% → 0.000%: $4.02
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Reya: 3 bp × 2 orders: −$6
Net: $25.08
Costs to cover: 0.198%
Break-even: 2.7 days

Slippage unknown: Perpl: no order-book sample; Reya: 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 Perpl no order-book sample	—	—	—	—	—
Sell Reya no order-book sample	—	—	—	—	—

Perpl and 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 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
Hibachi SOL/USDT-P	−0.0208%	1h	116.68	−0.003%	$97K	$678K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.64	−0.040%	$738.9M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.75	+0.062%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.71	+0.020%	$32.3M	$106.2M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.70	+0.012%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0046%	1h	116.73	+0.037%	—	$634K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.76	+0.064%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.77	+0.071%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	116.68	long leg	$106K	$3.5M	8.3x
dYdX SOL-USD	+0.0016%	1h	116.80	+0.102%	$4.3M	$23.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0037%	8h	116.66	−0.017%	$480.9M	$459.2M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.80	+0.101%	$99K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.73	+0.039%	$8.0M	$403.0M	50x	as long as short
Lighter RH SOL	+0.0056%	1h	116.68	−0.003%	$2.2M	$16.9M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0057%	1h	116.74	+0.052%	$26.4M	$21.7M	50x	as long as short
Aster SOLUSDT	+0.0076%	8h	116.66	−0.022%	$176.5M	$169.5M	100x	as long as short
SoDEX SOL-USD	+0.0077%	1h	116.68	−0.002%	$6.1M	$11.0M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	116.72	+0.033%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0092%	8h	116.74	+0.049%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.69	+0.009%	$13.2M	$61.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.65	−0.025%	$351K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.73	+0.041%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.75	+0.057%	$5.6M	$41.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.81	+0.110%	$702.0M	$408.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.81	+0.113%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.65	−0.032%	$967.0M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.66	−0.019%	$367.9M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.56	−0.105%	$217K	$837K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.78	+0.082%	$901K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.113%	$125.4M	$26.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.69	+0.007%	$850.0M	$676.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.67	−0.010%	$370.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.69	+0.009%	$133.1M	$233.1M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.67	−0.008%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.71	+0.024%	$23.1M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.52	−0.136%	$25.1M	$111.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.57	−0.099%	$93.6M	$408.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.63	−0.045%	$47.7M	$29.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.65	−0.027%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.66	−0.019%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.75	+0.058%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.70	+0.018%	$242K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.75	+0.059%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.76	+0.068%	$190K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.76	+0.067%	$226.1M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.69	+0.007%	$45.4M	$104.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.63	−0.048%	$8.0M	$38.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.79	+0.094%	—	$233.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.62	−0.053%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.72	+0.033%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERPshort	+0.0195%	1h	116.73	+0.040%	$1.1M	$545K	25x
BloFin SOL-USDT	+0.0220%	8h	116.71	+0.024%	$52.1M	$66.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.76	+0.068%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.85	+0.142%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0491%	1h	116.72	+0.035%	$25K	$57K	20x	as long as short