Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%

Price spread now: Bullet against Kalshi+0.007%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Kalshi Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 7 days−0.047%−$5 · spread now +0.007%, 7d avg +0.001%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, 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	Kalshi KXSOLPERP	118.97	0	get 0.0000% / 8h	5h 08m	$1.2M	$20.7M	3.1x
Short	Bullet SOL-USD	118.98	0.0100	get 0.0013% / 1h	8m 44s	$202K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Kalshi. 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 KalshibpFee BulletbpOrdersPrice spread, now +0.007%Rate

Funding earned: $21
Price spread: +0.007% → +0.001%: $0.66
Slippage, 4 orders: −$9.42
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$5.76
Costs to cover: 0.274%
Break-even: 8.9 days

Slippage from Kalshi: live order book, 5 min ago; Bullet: live order book, just now.

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 Kalshi live order book, 5 min ago	1.13 bp	7.4 bp −$7	11.9 bp −$119	19.6 bp −$1,957	doesn't fit
Sell Bullet live order book, just now	0.04 bp	5.3 bp −$5	7.9 bp −$79	doesn't fit	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
Bluefin SOL-PERP	−0.0252%	1h	118.97	−0.004%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0107%	1h	118.91	−0.054%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.91	−0.050%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	118.89	−0.069%	—	$723K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.00	+0.021%	$112K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	118.96	−0.007%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	118.97	long leg	$1.2M	$20.7M	3.1x
Perpl SOL	0.0000%	43m	118.94	−0.031%	$176K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	118.90	−0.061%	$6.5M	$13.6M	25x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	118.85	−0.106%	$118K	$613K	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	+0.0069%	8h	119.00	+0.020%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.98	+0.007%	$104K	$155K	20x	as long as short
Aftermath Perps SOLUSD	+0.0074%	1h	119.04	+0.053%	$24K	$47K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.96	−0.009%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0081%	8h	118.93	−0.037%	$231.5M	$45.1M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	118.98	+0.007%	$869.5M	$688.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.99	+0.017%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.97	−0.003%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.97	+0.001%	$352K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.96	−0.008%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.89	−0.069%	$46K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.86	−0.090%	$6.0M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.07	+0.082%	$717.2M	$408.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.98	+0.007%	$178.2M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.02	+0.040%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.00	+0.021%	$980.6M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.01	+0.034%	$827.2M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.98	+0.007%	$371.8M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.80	−0.145%	$233K	$884K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.96	−0.007%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.85	−0.103%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.00	+0.024%	$453.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.95	−0.020%	$139.5M	$202.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.93	−0.034%	$495.1M	$456.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.00	+0.024%	$24.1M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.87	−0.087%	$27.5M	$128.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.86	−0.094%	$95.5M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.97	−0.002%	$48.7M	$31.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.93	−0.034%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.82	−0.128%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.97	−0.002%	$365K	$2.4M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	118.98	+0.007%	$202K	$1.7M	20x
SunX SOL-USDT	+0.0100%	8h	118.96	−0.012%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.99	+0.015%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.99	+0.015%	$46.5M	$102.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.91	−0.056%	$8.7M	$36.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0105%	1h	119.05	+0.064%	$26.6M	$27.7M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.02	+0.039%	$8.2M	$416.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.97	+0.003%	—	$224.9M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	119.00	+0.027%	$32.6M	$97.0M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0170% / S −0.0072%	1h	118.99	+0.016%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	118.96	−0.010%	$1.1M	$551K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	118.94	−0.026%	$1.7M	$5.8M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.343%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.98	+0.007%	$52.1M	$84.1M	125x	as long as short