Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h +0.009%

Price spread now: Kalshi against dYdX−0.021%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 7 days−0.025%−$3 · spread now −0.021%, 7d avg +0.033%

Together, before fees+0.085%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.054% cheaper against dYdX than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.033%). If the spread goes back, that is −$5 on $10k: about 8.7 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.111% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX SOL-USD	118.82	−0.0021	get 0.0003% / 1h	1m 33s	$4.8M	$28.0M	20x
Short	Kalshi KXSOLPERP	118.80	0	get 0.0000% / 8h	4h 01m	$1.2M	$20.7M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now −0.021%Rate

Funding earned: $4.32
Price spread: −0.021% → +0.033%: −$5.38
Slippage, 4 orders: −$15.89
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$36.95
Costs to cover: 0.359%
Break-even: 66.9 days

Slippage from dYdX: 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 dYdX live order book, 3 min ago	2.95 bp	11.3 bp −$11	16.1 bp −$161	37.4 bp −$3,735	114.8 bp −$57.4K
Sell Kalshi live order book, 2 min ago	1.30 bp	7.6 bp −$8	11.0 bp −$110	16.8 bp −$1,675	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
Derive SOL-PERP	−0.0100%	1h	118.70	−0.106%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.80	−0.021%	$842	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	118.76	−0.052%	—	$723K	20x	as long as short
dYdX SOL-USDlong	−0.0021%	1h	118.82	long leg	$4.8M	$28.0M	20x
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.80	−0.021%	$55K	—	150x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	118.80	−0.021%	$1.2M	$20.7M	3.1x
Perpl SOL	0.0000%	43m	118.80	−0.020%	$175K	$3.9M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0020%	1h	118.73	−0.075%	$1.5M	$6.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0051%	1h	118.84	+0.010%	$26.6M	$25.7M	50x	as long as short
Gate SOL_USDT	+0.0065%	8h	118.79	−0.028%	$860.6M	$690.0M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0072%	1h	118.82	−0.003%	$104K	$158K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0077%	8h	118.80	−0.024%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0079%	8h	118.71	−0.094%	$231.1M	$45.0M	75x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.81	−0.014%	—	$369.8M	—	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.81	−0.012%	$122K	$642K	20x	as long as short
Lighter SOL	+0.0096%	1h	118.80	−0.019%	$13.4M	$56.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.79	−0.025%	$2.1M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.82	−0.004%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.84	+0.013%	$8.2M	$416.6M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.82	+0.001%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.78	−0.036%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.79	−0.024%	$5.8M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.92	+0.081%	$719.3M	$407.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.81	−0.008%	$178.5M	$177.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.84	+0.014%	$12.2M	$122.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.79	−0.027%	$980.1M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.81	−0.011%	$823.4M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.81	−0.011%	$371.3M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.76	−0.053%	$231K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.84	+0.012%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.65	−0.148%	$133.6M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.82	−0.003%	$426.4M	$1.14B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.84	+0.011%	$137.8M	$207.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.81	−0.015%	$493.0M	$458.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.83	+0.006%	$24.2M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.290%	$27.0M	$128.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.73	−0.075%	$95.4M	$403.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.57	−0.216%	$48.6M	$30.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.81	−0.011%	$1.4M	$13.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.82	−0.003%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.82	+0.001%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.77	−0.043%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.77	−0.048%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.78	−0.036%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.77	−0.045%	$46.5M	$102.5M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.85	+0.022%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.78	−0.038%	$8.7M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.81	−0.013%	$32.6M	$97.1M	100x	as long as short
Aftermath Perps SOLUSD	+0.0116%	1h	118.72	−0.090%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.78	−0.036%	—	$225.8M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0166% / S −0.0070%	1h	118.79	−0.030%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.66	−0.137%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0185%	1h	118.80	−0.022%	$1.1M	$539K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.76	−0.053%	$51.8M	$80.1M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.80	−0.018%	$1.8M	$4.8M	20x	as long as short