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 −0.049%

Price spread now: OKX against RISEx−0.123%56s7-day average −0.009% · 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−$190.187% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.121%−$12 on $10k

Price spread, last 7 days+0.119%+$12 · spread now −0.123%, 7d avg −0.009%

Together, before fees−0.003%$0 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 OKX is 0.114% cheaper against RISEx than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 56 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 -0.121% in total (about -11.9% 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	116.41	0.0485	pay 0.0061% / 1h	36m 50s	$2.1M	$4.8M	20x
Short	OKX SOL-USDT-SWAP	116.27	0.0100	get 0.0100% / 8h	36m 50s	$368.0M	$1.77B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$80.78
Price spread: −0.123% → −0.009%: −$11.37
Slippage, 4 orders: −$2.73
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$110.89
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	0.04 bp	3.0 bp −$3	6.6 bp −$66	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.43 bp	5.4 bp −$5	5.4 bp −$54	8.9 bp −$886	20.1 bp −$10.1K

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	−0.0153%	1h	116.33	−0.068%	$32.4M	$106.4M	100x	as long as short
Hibachi SOL/USDT-P	−0.0144%	1h	116.48	+0.056%	$96K	$684K	20x	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.27	−0.127%	$735.4M	$1.43B	100x	as long as short
Derive SOL-PERP	−0.0081%	1h	116.30	−0.097%	$1.8M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.41	−0.003%	$1K	$8K	25x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.85	+0.375%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0050%	1h	116.34	−0.064%	—	$633K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.35	−0.055%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.40	−0.007%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.34	−0.059%	$106K	$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
dYdX SOL-USD	+0.0006%	1h	116.36	−0.048%	$4.3M	$23.5M	20x	as long as short
SoDEX SOL-USD	+0.0008%	1h	116.30	−0.097%	$6.1M	$11.0M	20x	as long as short
Bitget SOLUSDT	+0.0024%	8h	116.29	−0.107%	$479.8M	$458.1M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.34	−0.063%	$99K	$179K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.33	−0.076%	$7.9M	$400.7M	50x	as long as short
Aster SOLUSDT	+0.0055%	8h	116.29	−0.106%	$176.7M	$168.8M	100x	as long as short
Lighter RH SOL	+0.0056%	1h	116.28	−0.111%	$2.1M	$16.7M	25x	as long as short
Orderly PERP_SOL_USDC	+0.0074%	8h	116.31	−0.092%	$1.0M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0078%	1h	116.38	−0.027%	$26.4M	$22.0M	50x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.41	−0.006%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.31	−0.091%	$13.1M	$60.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.34	−0.066%	$350K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.29	−0.106%	$64K	$913K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.39	−0.015%	$5.5M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.43	+0.014%	$702.1M	$405.9M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.35	−0.054%	$15.7M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.29	−0.108%	$963.7M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAPshort	+0.0100%	8h	116.27	−0.123%	$368.0M	$1.77B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.037%	$218K	$830K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.37	−0.039%	$890K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.34	−0.063%	$845.9M	$663.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.33	−0.071%	$369.2M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.35	−0.056%	$132.1M	$234.0M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.29	−0.105%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.36	−0.045%	$23.0M	$35.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.64	+0.197%	$25.0M	$108.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.49	+0.069%	$93.5M	$405.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.54	+0.109%	$47.7M	$29.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.72	+0.264%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.51	+0.083%	$1.3M	$11.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.32	−0.080%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.34	−0.063%	$248K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.33	−0.070%	$26K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.30	−0.094%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.29	−0.106%	$225.1M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.32	−0.080%	$45.2M	$104.5M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	+0.118%	$126.1M	$26.3M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.30	−0.095%	$8.2M	$37.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.35	−0.058%	—	$233.8M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.76	+0.298%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.29	−0.110%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.27	−0.123%	$51.8M	$65.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.34	−0.062%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0480%	1h	116.60	+0.163%	$25K	$57K	20x	as long as short
RISEx SOL/USDClong	+0.0485%	1h	116.41	long leg	$2.1M	$4.8M	20x