Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Kalshi against Bulk+0.032%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Bulk Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.092%−$9 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.032%, 7d avg +0.016%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk SOL-USD	116.46	0.0100	pay 0.0013% / 1h	11m 34s	$132.4M	$15.1M	20x
Short	Kalshi KXSOLPERP	116.50	0	get 0.0000% / 8h	7h 11m	$1.4M	$19.1M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bulk. 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 BulkbpFee KalshibpOrdersPrice spread, now +0.032%Rate

Funding earned: −$21
Price spread: +0.032% → +0.016%: $1.58
Slippage, 4 orders: −$14.11
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$50.53
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from Bulk: live order book, 3 min ago; Kalshi: 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 Bulk live order book, 3 min ago	4.29 bp	7.8 bp −$8	7.8 bp −$78	7.8 bp −$779	7.8 bp −$3,895
Sell Kalshi live order book, 2 min ago	1.24 bp	7.8 bp −$8	12.6 bp −$126	19.4 bp −$1,940	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	−0.0216%	1h	116.50	+0.038%	$105K	$703K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.45	−0.008%	$31.4M	$102.4M	100x	as long as short
Vest SOL-PERP	−0.0106%	1h	116.37	−0.073%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.47	+0.007%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0062%	8h	116.33	−0.112%	$750.1M	$1.40B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.35	−0.091%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.42	−0.034%	$42K	—	150x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	116.50	+0.032%	$1.4M	$19.1M	3.1x
dYdX SOL-USD	+0.0011%	1h	116.43	−0.027%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.47	+0.005%	$7.6M	$404.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0060%	1h	116.40	−0.054%	$146K	$1.6M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.45	−0.009%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0090%	8h	116.39	−0.062%	$480.4M	$447.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.44	−0.016%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.46	0.000%	$13.1M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.44	−0.013%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.44	−0.015%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.39	−0.060%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.47	+0.007%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.44	−0.019%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.56	+0.086%	$702.1M	$395.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.44	−0.017%	$174.4M	$183.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.49	+0.025%	$15.7M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.43	−0.022%	$971.1M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.41	−0.043%	$367.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.45	−0.009%	$224K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.48	+0.015%	$918K	$8.8M	20x	as long as short
Bulk SOL-USDlong	+0.0100%	1h	116.46	long leg	$132.4M	$15.1M	20x
Gate SOL_USDT	+0.0100%	8h	116.45	−0.009%	$855.4M	$668.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.47	+0.008%	$367.9M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.48	+0.018%	$128.8M	$224.2M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.44	−0.019%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.45	−0.009%	$23.0M	$40.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.48	+0.021%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.48	+0.016%	$93.5M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.47	+0.008%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.54	+0.065%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.45	−0.009%	$1.3M	$12.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.40	−0.052%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.43	−0.028%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.42	−0.030%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.44	−0.017%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.40	−0.055%	$225.6M	$48.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.42	−0.034%	$45.3M	$103.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.40	−0.052%	$8.2M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.206%	$4K	$2K	12x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0110%	1h	116.49	+0.025%	$26.3M	$23.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.47	+0.010%	—	$235.7M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.120%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.38	−0.073%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.50	+0.034%	$51.8M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.41	−0.041%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.48	+0.015%	$131K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.51	+0.042%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0576%	1h	116.57	+0.092%	$25K	$52K	20x	as long as short