Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0385%/8h= −42.1% APRpaid last 24h −0.041%

Price spread now: Binance against RISEx−0.103%55s7-day average +0.004% · 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—prices read too far apart to compare

costs, in and out, $10k−$180.179% of the position

Long on RISEx Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.114%−$11 on $10k

Price spread, last 7 days+0.106%+$11 · spread now −0.103%, 7d avg +0.004%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Binance is 0.108% cheaper against RISEx than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.004%). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.114% in total (about -11.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx SOL/USDC	116.11	0.0485	pay 0.0061% / 1h	20m 45s	$2.1M	$4.8M	20x
Short	Binance SOLUSDT	115.99	0.0100	get 0.0100% / 8h	20m 45s	$958.9M	$3.87B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.103%Rate

Funding earned: −$80.78
Price spread: −0.103% → +0.004%: −$10.79
Slippage, 4 orders: −$1.89
Fee RISEx: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$109.46
Costs to cover: 0.179%
Break-even: never at this rate

Slippage from RISEx: live order book, 3 min ago; Binance: live order book, 8 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	3.6 bp −$4	6.8 bp −$68	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.43 bp	5.4 bp −$5	5.8 bp −$58	8.5 bp −$850	17.5 bp −$8,753

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
Kraken Futures PF_SOLUSD	−0.0154%	1h	116.03	−0.068%	$32.3M	$107.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0104%	1h	116.13	+0.014%	$100K	$675K	20x	as long as short
Bybit SOLUSDT	−0.0103%	8h	115.99	−0.103%	$732.4M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.20	+0.074%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0075%	1h	116.00	−0.096%	$1.8M	$3.0M	13x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.36	+0.215%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0048%	1h	116.02	−0.081%	—	$756K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.03	−0.069%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.04	−0.060%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.05	−0.048%	$99K	$3.5M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	116.06	−0.046%	$26.3M	$21.6M	50x	as long as short
dYdX SOL-USD	+0.0005%	1h	116.04	−0.063%	$4.3M	$23.5M	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	115.98	−0.116%	$478.5M	$456.4M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.03	−0.073%	$7.8M	$398.6M	50x	as long as short
Aster SOLUSDT	+0.0049%	8h	115.99	−0.103%	$176.9M	$168.7M	100x	as long as short
SoDEX SOL-USD	+0.0056%	1h	116.00	−0.095%	$6.1M	$11.0M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.08	−0.026%	$100K	$181K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	116.01	−0.083%	$1.0M	$5.9M	100x	as long as short
Lighter RH SOL	+0.0072%	1h	115.99	−0.103%	$2.1M	$16.8M	25x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.05	−0.049%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.00	−0.096%	$13.1M	$60.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.01	−0.085%	$350K	$257K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.02	−0.078%	$64K	$912K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.04	−0.060%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.09	−0.017%	$695.1M	$408.1M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.04	−0.060%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	115.99	−0.103%	$958.9M	$3.87B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.05	−0.052%	$365.5M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.03	−0.069%	$224K	$842K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.06	−0.040%	$922K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.99	−0.103%	$841.8M	$667.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.01	−0.086%	$371.1M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.00	−0.093%	$129.0M	$236.1M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	115.99	−0.106%	—	$374.1M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.00	−0.095%	$22.8M	$35.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.97	−0.117%	$24.8M	$107.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.98	−0.115%	$93.1M	$406.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.07	−0.035%	$47.5M	$28.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.07	−0.035%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.06	−0.043%	$1.3M	$11.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.02	−0.078%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.10	−0.008%	$283K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.02	−0.074%	$26K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.01	−0.086%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.04	−0.064%	$224.7M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.03	−0.069%	$45.1M	$104.3M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.35	+0.207%	$125.8M	$26.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	115.96	−0.130%	$8.2M	$37.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.02	−0.074%	—	$236.1M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.17	+0.052%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	115.98	−0.110%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.03	−0.069%	$52.1M	$65.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.02	−0.077%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0463%	1h	116.16	+0.045%	$25K	$57K	20x	as long as short
RISEx SOL/USDClong	+0.0485%	1h	116.11	long leg	$2.1M	$4.8M	20x