Funding arb · Price arb /

SOL

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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: SunX against RISEx−0.012%7-day average −0.035% · 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−$48as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on RISEx Short on SunX

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 4 days (all we have)−0.060%−$6 · spread now −0.012%, 7d avg −0.035%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.023% dearer against RISEx than usual: you sell high and buy low (spread −0.012% now, against its 7-day average of −0.035%): +$2 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 4 days (−0.114% in total) that is about 18 hours.

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	116.62	0.0485	pay 0.0061% / 1h	51m 54s	$2.1M	$4.8M	20x
Short	SunX SOL-USDT	116.60	0.0100	get 0.0100% / 8h	51m 54s	$189K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$80.78
Price spread: −0.012% → −0.035%: $2.33
Slippage, 4 orders: −$35.97
Fee RISEx: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: −$128.42
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; SunX: live order book, 4 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	6.5 bp −$65	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	3.27 bp	21.0 bp −$21	31.5 bp −$315	doesn't fit	doesn't fit

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	−0.0200%	1h	116.61	−0.010%	$96K	$680K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0153%	1h	116.65	+0.030%	$32.3M	$106.0M	100x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.69	+0.059%	$738.0M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.52	−0.085%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0061%	1h	116.62	0.000%	$1.9M	$3.0M	13x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.62	+0.002%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0045%	1h	116.54	−0.063%	—	$633K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.62	+0.004%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.63	+0.007%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.59	−0.021%	$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	+0.0004%	1h	116.58	−0.033%	$4.3M	$23.6M	20x	as long as short
Bitget SOLUSDT	+0.0031%	8h	116.70	+0.073%	$481.5M	$458.3M	100x	as long as short
Lighter RH SOL	+0.0032%	1h	116.64	+0.015%	$2.2M	$16.6M	25x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.63	+0.012%	$8.0M	$401.7M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	116.61	−0.007%	$100K	$176K	20x	as long as short
SoDEX SOL-USD	+0.0057%	1h	116.60	−0.015%	$6.1M	$11.0M	20x	as long as short
Aster SOLUSDT	+0.0066%	8h	116.68	+0.053%	$177.0M	$168.7M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0079%	8h	116.59	−0.022%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.53	−0.077%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.60	−0.014%	$13.2M	$60.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.60	−0.013%	$351K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.55	−0.058%	$66K	$909K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.58	−0.031%	$5.3M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.76	+0.122%	$702.0M	$406.9M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.57	−0.039%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.69	+0.063%	$966.5M	$3.86B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.72	+0.088%	$367.9M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.45	−0.144%	$216K	$824K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.57	−0.044%	$898K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.142%	$125.5M	$24.9M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.65	+0.028%	$850.3M	$657.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	+0.062%	$373.6M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.69	+0.061%	$132.9M	$233.1M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.69	+0.065%	—	$373.1M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.66	+0.036%	$23.1M	$36.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.38	−0.201%	$24.9M	$110.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.47	−0.126%	$93.5M	$405.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.55	−0.056%	$47.7M	$29.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.52	−0.087%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.55	−0.058%	$1.3M	$11.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.59	−0.024%	$312K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.59	−0.022%	$242K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.58	−0.032%	$27K	$36K	25x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	116.60	−0.012%	$189K	$1.8M	30x
HTX SOL-USDT	+0.0100%	8h	116.56	−0.050%	$225.7M	$50.6M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.65	+0.028%	$45.4M	$104.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.67	+0.047%	$8.2M	$38.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.53	−0.073%	—	$234.0M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.59	−0.024%	$6.5M	$13.6M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0132%	1h	116.68	+0.050%	$26.4M	$21.8M	50x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.56	−0.047%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.45	−0.144%	$52.1M	$66.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.61	−0.008%	$3.5M	—	200x	as long as short
RISEx SOL/USDClong	+0.0485%	1h	116.62	long leg	$2.1M	$4.8M	20x
Aftermath Perps SOLUSD	+0.0488%	1h	116.60	−0.016%	$25K	$57K	20x	as long as short