Funding you earn now, next payment 08:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h −0.010%
Price spread now: Phoenix against Reya+0.273%7-day average +0.148% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.011%−$1 on $10k
+Price spread, last 7 days−0.094%−$9 · spread now +0.273%, 7d avg +0.148%
=Together, before fees−0.104%+ Points / potential airdropReya: Active · farm board−$10 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.125% dearer against Reya than usual: you sell high and buy low (spread +0.273% now, against its 7-day average of +0.148%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.6 days. At the pace of the last 4 days (−0.011% in total) that is about 42 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya SOLRUSDPERP | 117.32 | 0.0198 | pay 0.0025% / 1h | 58m 56s | $1.1M | $541K | 25x |
| Short | Phoenix SOL | 117.64 | 0.0124 | get 0.0015% / 1h | 58m 56s | $6.5M | $12.6M | 25x |
Reya SOLRUSDPERP
Phoenix SOLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$15.53
- Price spread: +0.273% → +0.148%
- $12.48
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$16.05
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Reya: no order-book sample; Phoenix: live order book, 5 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 Phoenix live order book, 5 min ago | 0.85 bp | 4.6 bp −$5 | 5.7 bp −$57 | 11.2 bp −$1,121 | doesn't fit |
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 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff SOL-PERP | −0.0080% | 1h | 117.52 | +0.172% | $1K | $8K | 25x | as long as short |
| Bybit SOLUSDT | −0.0053% | 8h | 117.37 | +0.043% | $734.6M | $1.31B | 100x | as long as short |
| SoDEX SOL-USD | −0.0015% | 1h | 117.38 | +0.052% | $6.2M | $11.1M | 20x | as long as short |
| Vest SOL-PERP | −0.0009% | 1h | 117.39 | +0.063% | — | $288K | 20x | as long as short |
| gTrade (Gains Network) SOL/USD | L −0.0001% / S +0.0004% | 1h | 117.56 | +0.202% | $40K | — | 150x | as long as short |
| Kalshi KXSOLPERP | 0.0000% | 8h | 117.43 | +0.092% | $1.3M | $17.7M | 3.1x | as long as short |
| Perpl SOL | 0.0000% | 43m | 117.42 | +0.082% | $99K | $2.9M | 8.3x | as long as short |
| Phemex SOLUSDT | +0.0007% | 8h | 117.35 | +0.026% | $45.6M | $101.6M | 50x | as long as short |
| Bitget SOLUSDT | +0.0024% | 8h | 117.32 | −0.003% | $483.9M | $425.4M | 100x | as long as short |
| Injective SOL/USDC PERP | +0.0033% | 1h | 116.34 | −0.835% | $4K | $120 | 12x | as long as short |
Hotstuff SOL-PERP
Bybit SOLUSDT
SoDEX SOL-USD
Vest SOL-PERP
gTrade (Gains Network) SOL/USD
Kalshi KXSOLPERP
Perpl SOL
Phemex SOLUSDT
Bitget SOLUSDT
Injective SOL/USDC PERPShow all 54 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International SOL-PERP-INTX | +0.0040% | 1h | 117.41 | +0.078% | $8.2M | $385.2M | 50x | as long as short |
| 01 Exchange SOLUSD | +0.0048% | 1h | 117.45 | +0.111% | $101K | $182K | 20x | as long as short |
| Aster SOLUSDT | +0.0051% | 8h | 117.40 | +0.069% | $178.5M | $164.0M | 100x | as long as short |
| Deribit SOL_USDC-PERPETUAL | +0.0053% | 1h | 117.43 | +0.091% | $26.4M | $20.1M | 50x | as long as short |
| Orderly PERP_SOL_USDC | +0.0063% | 8h | 117.34 | +0.022% | $997K | $5.5M | 100x | as long as short |
| Hibachi SOL/USDT-P | +0.0072% | 1h | 117.56 | +0.201% | $98K | $654K | 20x | as long as short |
| dYdX SOL-USD | +0.0073% | 1h | 117.46 | +0.117% | $8.2M | $20.1M | 20x | as long as short |
| Lighter RH SOL | +0.0088% | 1h | 117.38 | +0.052% | $2.2M | $13.4M | 25x | as long as short |
| Lighter SOL | +0.0096% | 1h | 117.39 | +0.064% | $13.1M | $54.2M | 25x | as long as short |
| Aevo SOL-PERP | +0.0096% | 1h | 117.35 | +0.023% | $358K | $236K | 20x | as long as short |
| Paradex SOL-USD-PERP | +0.0098% | 8h | 117.38 | +0.048% | $1.0M | $555K | 50x | as long as short |
| Katana Perps SOL-USD | +0.0100% | 8h | 117.42 | +0.086% | $44K | $838K | 20x | as long as short |
| Nado SOL-PERP | +0.0100% | 1h | 117.36 | +0.031% | $5.5M | $40.3M | 40x | as long as short |
| Pacifica SOL | +0.0100% | 1h | 117.48 | +0.138% | $16.0M | $121.7M | 20x | as long as short |
| Binance SOLUSDT | +0.0100% | 8h | 117.40 | +0.069% | $971.0M | $3.62B | 100x | as long as short |
| OKX SOL-USDT-SWAP | +0.0100% | 8h | 117.35 | +0.026% | $364.4M | $1.65B | 100x | as long as short |
| Ondo Perps SOL-USD.P | +0.0100% | 1h | 117.49 | +0.145% | $221K | $808K | 10x | as long as short |
| Arcus SOL-USD | +0.0100% | 1h | 117.45 | +0.108% | $941K | $8.2M | 20x | as long as short |
| Gate SOL_USDT | +0.0100% | 8h | 117.39 | +0.060% | $855.0M | $582.8M | 100x | as long as short |
| MEXC SOL_USDT | +0.0100% | 8h | 117.32 | 0.000% | $423.6M | $973.7M | 300x | as long as short |
| KuCoin SOLUSDTM | +0.0100% | 8h | 117.36 | +0.030% | $134.0M | $232.2M | 75x | as long as short |
| BingX SOL-USDC | +0.0100% | 8h | 117.34 | +0.020% | — | $10.6M | — | as long as short |
| Backpack SOL_USDC_PERP | +0.0100% | 1h | 117.39 | +0.060% | $23.2M | $36.7M | 50x | as long as short |
| Variational Omni SOL | +0.0100% | 8h | 117.40 | +0.071% | $25.3M | $101.8M | — | as long as short |
| edgeX SOLUSDC | +0.0100% | 4h | 117.53 | +0.182% | $94.4M | $410.2M | 75x | as long as short |
| GRVT SOL_USDT_Perp | +0.0100% | 8h | 117.46 | +0.122% | $48.1M | $26.4M | 20x | as long as short |
| ApeX Omni SOLUSDT | +0.0100% | 1h | 117.58 | +0.222% | $1.1M | $6.7M | 50x | as long as short |
| StandX SOL-USD | +0.0100% | 1h | 117.53 | +0.179% | $1.3M | $10.8M | 30x | as long as short |
| Polymarket Perps SOL-USD | +0.0100% | 1h | 117.38 | +0.052% | $323K | $2.7M | 20x | as long as short |
| Bullet SOL-USD | +0.0100% | 1h | 117.37 | +0.044% | $284K | $1.7M | 20x | as long as short |
| Bluefin SOL-PERP | +0.0100% | 1h | 117.36 | +0.034% | $27K | $34K | 25x | as long as short |
| SunX SOL-USDT | +0.0100% | 8h | 117.41 | +0.075% | $190K | $1.6M | 30x | as long as short |
| HTX SOL-USDT | +0.0100% | 8h | 117.36 | +0.038% | $227.1M | $46.5M | 75x | as long as short |
| Bulk SOL-USD | +0.0100% | 1h | 117.65 | +0.279% | $127.3M | $25.1M | 20x | as long as short |
| Extended SOL-USD | +0.0104% | 1h | 117.32 | +0.003% | $8.4M | $34.3M | 50x | as long as short |
| Hyperliquid SOL | +0.0114% | 1h | 117.52 | +0.171% | $714.4M | $386.7M | 20x | as long as short |
| Jupiter Perps SOL-PERP | L +0.0120% / S +0.0048% | 1h | 117.56 | +0.202% | — | $214.7M | 500x | as long as short |
| Phoenix SOLshort | +0.0124% | 1h | 117.64 | +0.273% | $6.5M | $12.6M | 25x | |
| Kraken Futures PF_SOLUSD | +0.0184% | 1h | 117.42 | +0.084% | $32.4M | $98.8M | 100x | as long as short |
| Reya SOLRUSDPERPlong | +0.0198% | 1h | 117.32 | long leg | $1.1M | $541K | 25x | |
| BloFin SOL-USDT | +0.0220% | 8h | 117.39 | +0.060% | $52.1M | $59.4M | 125x | as long as short |
| GMX SOL/USD [SOL-USDC] | L +0.0231% / S −0.0170% | 1h | 117.55 | +0.193% | $3.5M | — | 200x | as long as short |
| RISEx SOL/USDC | +0.0273% | 1h | 117.41 | +0.076% | $2.2M | $4.8M | 20x | as long as short |
| Aftermath Perps SOLUSD | +0.0409% | 1h | 117.59 | +0.229% | $25K | $53K | 20x | as long as short |
Coinbase International SOL-PERP-INTX
01 Exchange SOLUSD
Aster SOLUSDT
Deribit SOL_USDC-PERPETUAL
Orderly PERP_SOL_USDC
Hibachi SOL/USDT-P
dYdX SOL-USD
Lighter RH SOL
Lighter SOL
Aevo SOL-PERP
Paradex SOL-USD-PERP
Katana Perps SOL-USD
Nado SOL-PERP
Pacifica SOL
Binance SOLUSDT
OKX SOL-USDT-SWAP
Ondo Perps SOL-USD.P
Arcus SOL-USD
Gate SOL_USDT
MEXC SOL_USDT
KuCoin SOLUSDTM
BingX SOL-USDC
Backpack SOL_USDC_PERP
Variational Omni SOL
edgeX SOLUSDC
GRVT SOL_USDT_Perp
ApeX Omni SOLUSDT
StandX SOL-USD
Polymarket Perps SOL-USD
Bullet SOL-USD
Bluefin SOL-PERP
SunX SOL-USDT
HTX SOL-USDT
Bulk SOL-USD
Extended SOL-USD
Hyperliquid SOL
Jupiter Perps SOL-PERP
Kraken Futures PF_SOLUSD
BloFin SOL-USDT
GMX SOL/USD [SOL-USDC]
RISEx SOL/USDC
Aftermath Perps SOLUSD