Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.032%

Price spread now: Kalshi against Coinbase International−0.011%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.131%+$13 · spread now −0.011%, 7d avg −0.027%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, 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	Coinbase International SOL-PERP-INTX	119.85	0.0096	pay 0.0012% / 1h	53m 12s	$8.3M	$419.4M	50x
Short	Kalshi KXSOLPERP	119.84	0	get 0.0000% / 8h	4h 53m	$1.2M	$20.6M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Coinbase International. 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 Coinbase InternationalbpFee KalshibpOrdersPrice spread, now −0.011%Rate

Funding earned: −$20.16
Price spread: −0.011% → −0.027%: $1.57
Slippage, 4 orders: −$6.95
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$45.54
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Kalshi: live order book, 6 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 Coinbase International live order book, 1 min ago	0.04 bp	5.6 bp −$6	8.4 bp −$84	19.0 bp −$1,899	doesn't fit
Sell Kalshi live order book, 6 min ago	1.55 bp	7.0 bp −$7	12.4 bp −$124	21.2 bp −$2,125	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
Hotstuff SOL-PERP	−0.0080%	1h	119.77	−0.068%	$849	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.77	−0.071%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.71	−0.120%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.81	−0.036%	$116K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.85	0.000%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	119.84	−0.011%	$1.2M	$20.6M	3.1x
Perpl SOL	0.0000%	43m	119.85	−0.002%	$178K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0053%	1h	119.85	−0.003%	$26.8M	$26.1M	50x	as long as short
ApeX Omni SOLUSDT	+0.0053%	1h	119.48	−0.311%	$1.5M	$6.2M	50x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.90	+0.039%	$105K	$157K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0071%	8h	119.81	−0.040%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.80	−0.042%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0087%	8h	119.78	−0.058%	$233.2M	$45.1M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	119.78	−0.061%	$873.9M	$673.4M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.81	−0.033%	$13.7M	$55.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.79	−0.049%	$2.2M	$16.9M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	119.81	−0.032%	$122K	$639K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.76	−0.075%	$355K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTXlong	+0.0096%	1h	119.85	long leg	$8.3M	$419.4M	50x
Paradex SOL-USD-PERP	+0.0100%	8h	119.77	−0.069%	$1.1M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.84	−0.011%	$46K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.89	+0.027%	$6.1M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.92	+0.056%	$725.7M	$409.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.83	−0.019%	$179.4M	$175.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.86	+0.007%	$12.4M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.83	−0.019%	$987.4M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.85	+0.001%	$833.4M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.81	−0.036%	$374.1M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.78	−0.061%	$234K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.91	+0.046%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.35	−0.420%	$133.8M	$7.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.82	−0.028%	$457.2M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.83	−0.023%	$140.2M	$203.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.80	−0.041%	$498.9M	$456.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.84	−0.011%	$24.3M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.52	−0.279%	$27.4M	$128.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.65	−0.169%	$96.1M	$401.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.76	−0.078%	$49.0M	$31.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.77	−0.069%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.84	−0.011%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.81	−0.037%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.81	−0.035%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.86	+0.009%	$195K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.81	−0.036%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.84	−0.011%	$46.8M	$102.4M	50x	as long as short
Phoenix SOL	+0.0100%	1h	119.58	−0.228%	$6.6M	$13.7M	25x	as long as short
Aftermath Perps SOLUSD	+0.0102%	1h	119.57	−0.235%	$24K	$47K	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.77	−0.072%	$8.7M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0104%	1h	119.81	−0.037%	$32.7M	$97.0M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.84	−0.010%	—	$224.5M	500x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.02	−0.695%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0183%	1h	119.82	−0.029%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.81	−0.036%	$52.1M	$84.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.92	+0.060%	$1.7M	$5.3M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0241% / S −0.0186%	1h	119.81	−0.034%	$3.8M	—	200x	as long as short