Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.006%

Price spread now: Katana Perps against Jupiter Perps−0.012%7-day average −0.002% · you buy dearer than you sell

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

Long on Jupiter Perps Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 3 days (all we have)+0.173%+$17 · spread now −0.012%, 7d avg −0.002%

Together, before fees+0.163%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps SOL-PERP	118.95	L +0.0120% / S +0.0048%	pay 0.0015% / 1h	52m 56s	—	$218.1M	500x
Short	Katana Perps SOL-USD	118.94	0.0100	get 0.0100% / 8h	2h 52m	$47K	$781K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Jupiter Perps. 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 Jupiter PerpsbpFee Katana PerpsbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$4.24
Price spread: −0.012% → −0.002%: −$0.94
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$20.98
Costs to cover: 0.158%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; 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 Jupiter Perps no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Jupiter Perps and 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	118.68	−0.230%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.88	−0.065%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0083%	1h	118.91	−0.039%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.81	−0.120%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0078%	1h	119.02	+0.054%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.99	+0.031%	$49K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.90	−0.045%	$4.9M	$26.8M	20x	as long as short
Perpl SOL	0.0000%	43m	118.96	+0.006%	$180K	$4.1M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.03	+0.062%	$26.7M	$27.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	118.95	−0.001%	$1.1M	$5.9M	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	+0.0064%	1h	119.00	+0.039%	$105K	$153K	20x	as long as short
HTX SOL-USDT	+0.0073%	8h	118.87	−0.074%	$231.6M	$43.8M	75x	as long as short
Gate SOL_USDT	+0.0079%	8h	118.96	+0.005%	$859.0M	$674.0M	100x	as long as short
KuCoin SOLUSDTM	+0.0086%	8h	118.98	+0.025%	$144.8M	$197.3M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.96	+0.008%	$13.4M	$52.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.96	+0.005%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.00	+0.038%	$354K	$746K	20x	as long as short
Bitget SOLUSDT	+0.0098%	8h	118.94	−0.010%	$496.5M	$451.5M	100x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	118.90	−0.047%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	118.94	−0.012%	$47K	$781K	20x
Nado SOL-PERP	+0.0100%	1h	118.91	−0.037%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.06	+0.089%	$718.5M	$423.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.98	+0.022%	$179.6M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.91	−0.039%	$12.4M	$113.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.90	−0.049%	$974.6M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.92	−0.028%	$822.9M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.95	−0.003%	$369.1M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	−0.079%	$233K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.02	+0.058%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.09	+0.112%	$133.4M	$13.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.89	−0.054%	$469.8M	$1.07B	300x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.94	−0.016%	—	$10.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.99	+0.031%	$24.1M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.07	+0.101%	$27.7M	$126.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.04	+0.076%	$95.6M	$395.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	+0.149%	$48.7M	$33.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.99	+0.031%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	−0.129%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.97	+0.014%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.96	+0.008%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.97	+0.010%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.97	+0.010%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.97	+0.014%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.97	+0.014%	$46.4M	$99.9M	50x	as long as short
Kalshi KXSOLPERP	+0.0100%	8h	118.96	+0.003%	$1.2M	$20.9M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	118.95	−0.004%	$8.6M	$37.4M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.02	+0.056%	$8.1M	$415.0M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	118.85	−0.088%	$123K	$623K	20x	as long as short
Jupiter Perps SOL-PERPlong	L +0.0120% / S +0.0048%	1h	118.95	long leg	—	$218.1M	500x
Phoenix SOL	+0.0154%	1h	119.00	+0.039%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.01	+0.047%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.97	+0.017%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.95	−0.003%	$51.8M	$90.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.99	+0.031%	$36.2M	$90.2M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.98	+0.023%	$3.5M	—	200x	as long as short