Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h 0.000%

Price spread now: Kraken Futures against Bybit−0.091%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 3 days (all we have)−0.058%−$6 · spread now −0.091%, 7d avg −0.006%

Together, before fees+0.076%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.085% cheaper against Bybit than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of −0.006%). If the spread goes back, that is −$8 on $10k: about 5.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	119.36	0.0100	pay 0.0100% / 8h	1h 22m	$825.5M	$1.28B	100x
Short	Kraken Futures PF_SOLUSD	119.25	0.0149	get 0.0019% / 1h	22m 38s	$32.6M	$95.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.091%Rate

Funding earned: $10.39
Price spread: −0.091% → −0.006%: −$8.5
Slippage, 4 orders: −$3.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$22.87
Costs to cover: 0.248%
Break-even: 22.4 days

Slippage from Bybit: live order book, 2 min ago; Kraken Futures: 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 Bybit live order book, 2 min ago	0.42 bp	5.9 bp −$6	6.3 bp −$63	9.1 bp −$907	18.0 bp −$9,009
Sell Kraken Futures live order book, 2 min ago	0.42 bp	6.8 bp −$7	8.4 bp −$84	11.9 bp −$1,193	20.2 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
Bluefin SOL-PERP	−0.0487%	1h	119.25	−0.090%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0107%	1h	119.15	−0.173%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.32	−0.034%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0062%	1h	119.23	−0.104%	—	$722K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0005% / S +0.0004%	1h	119.27	−0.075%	$106K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.25	−0.086%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.31	−0.037%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.26	−0.080%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	119.40	+0.036%	$120K	$612K	20x	as long as short
Phoenix SOL	+0.0054%	1h	119.18	−0.148%	$6.5M	$13.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SOLUSD	+0.0066%	1h	119.29	−0.053%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0067%	8h	119.26	−0.080%	$1.1M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0071%	1h	119.31	−0.040%	$26.7M	$27.7M	50x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	119.38	+0.019%	$104K	$154K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.30	−0.049%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0082%	8h	119.27	−0.076%	$232.2M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	119.25	−0.090%	$871.0M	$684.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.26	−0.078%	$13.6M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.25	−0.093%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.20	−0.132%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.25	−0.093%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.32	−0.031%	$47K	$796K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.28	−0.069%	$6.2M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.36	+0.003%	$719.1M	$416.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.32	−0.033%	$178.6M	$177.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.31	−0.041%	$12.4M	$117.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.34	−0.010%	$985.9M	$3.81B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	119.36	long leg	$825.5M	$1.28B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	119.33	−0.023%	$371.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.24	−0.098%	$234K	$885K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.41	+0.042%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.16	−0.168%	$133.7M	$8.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.28	−0.065%	$454.5M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.29	−0.053%	$140.3M	$202.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.34	−0.016%	$495.9M	$455.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.27	−0.073%	$24.1M	$38.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.27	−0.073%	$27.9M	$128.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.14	−0.178%	$95.7M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.37	+0.011%	$48.9M	$31.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.24	−0.098%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.32	−0.031%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.27	−0.073%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.27	−0.076%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.26	−0.083%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.25	−0.090%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.27	−0.073%	$46.6M	$102.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.30	−0.046%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.30	−0.052%	$8.1M	$416.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.22	−0.113%	—	$223.5M	500x	as long as short
Kraken Futures PF_SOLUSDshort	+0.0149%	1h	119.25	−0.091%	$32.6M	$95.9M	100x
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0068%	1h	119.27	−0.077%	$3.8M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.25	−0.093%	$1.1M	$557K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.40	+0.033%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.019%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.26	−0.081%	$52.2M	$82.8M	125x	as long as short