Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.022%

Price spread now: Katana Perps against Deribit−0.018%7-day average −0.023% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.086%+$9 on $10k

Price spread, last 3 days (all we have)+0.229%+$23 · spread now −0.018%, 7d avg −0.023%

Together, before fees+0.315%+$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, 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	Deribit SOL_USDC-PERPETUAL	118.73	0.0009	pay 0.0001% / 1h	44m 42s	$26.6M	$27.7M	50x
Short	Katana Perps SOL-USD	118.71	0.0100	get 0.0100% / 8h	2h 44m	$45K	$785K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Deribit. 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 DeribitbpFee Katana PerpsbpOrdersPrice spread, now −0.018%Rate

Funding earned: $19.14
Price spread: −0.018% → −0.023%: $0.48
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $8.83
Costs to cover: 0.108%
Break-even: 3.8 days

Slippage unknown: Deribit: live order book, 4 min ago; Katana Perps: no order-book sample. Net counts fees only.

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 Deribit live order book, 4 min ago	0.80 bp	5.6 bp −$6	6.0 bp −$60	17.3 bp −$1,728	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	+0.133%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.62	−0.090%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.73	−0.002%	—	$724K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.64	−0.077%	$841	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0049%	1h	118.89	+0.136%	$24K	$48K	20x	as long as short
dYdX SOL-USD	−0.0006%	1h	118.67	−0.052%	$4.9M	$26.8M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.76	+0.024%	$48K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.79	+0.049%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.81	+0.063%	$179K	$4.1M	8.3x	as long as short
Deribit SOL_USDC-PERPETUALlong	+0.0009%	1h	118.73	long leg	$26.6M	$27.7M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0058%	8h	118.72	−0.010%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.75	+0.015%	$104K	$153K	20x	as long as short
HTX SOL-USDT	+0.0073%	8h	118.61	−0.106%	$231.1M	$43.6M	75x	as long as short
ApeX Omni SOLUSDT	+0.0074%	1h	118.90	+0.142%	$1.5M	$6.2M	50x	as long as short
Gate SOL_USDT	+0.0084%	8h	118.67	−0.052%	$857.2M	$676.9M	100x	as long as short
KuCoin SOLUSDTM	+0.0093%	8h	118.65	−0.070%	$143.5M	$196.5M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.65	−0.065%	$13.4M	$53.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.67	−0.052%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.68	−0.041%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.65	−0.070%	$1.0M	$525K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	118.71	−0.018%	$45K	$785K	20x
Nado SOL-PERP	+0.0100%	1h	118.76	+0.024%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.73	−0.001%	$715.9M	$424.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.67	−0.052%	$178.9M	$173.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.70	−0.025%	$12.3M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.67	−0.052%	$970.1M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.68	−0.042%	$818.4M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.65	−0.069%	$369.7M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.65	−0.069%	$233K	$860K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.77	+0.028%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.126%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.67	−0.052%	$465.7M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.70	−0.029%	$495.4M	$448.7M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.65	−0.067%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.66	−0.060%	$24.2M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.85	+0.096%	$27.6M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	+0.150%	$95.5M	$397.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.83	+0.082%	$48.6M	$33.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.88	+0.125%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.76	+0.024%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.73	−0.004%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.72	−0.011%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.74	+0.011%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.65	−0.069%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.69	−0.035%	$46.3M	$100.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.69	−0.037%	$8.6M	$37.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.87	+0.117%	$123K	$606K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.77	+0.035%	—	$218.1M	500x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.72	−0.014%	$8.0M	$413.3M	50x	as long as short
Phoenix SOL	+0.0154%	1h	118.92	+0.159%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.76	+0.021%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.76	+0.023%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.75	+0.014%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.67	−0.052%	$51.7M	$87.0M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.68	−0.046%	$36.0M	$89.8M	100x	as long as short