Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.031%

Price spread now: Coinbase International against Kalshi−0.084%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

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

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now −0.084%, 7d avg +0.024%

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

Funding pays, the price is against you. Coinbase International is 0.108% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.084% now, against its 7-day average of +0.024%). If the spread goes back, that is −$11 on $10k: about 5.6 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.031% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	116.54	0	get 0.0000% / 8h	47m 37s	$1.4M	$18.7M	3.1x
Short	Coinbase International SOL-PERP-INTX	116.44	0.0064	get 0.0008% / 1h	47m 37s	$7.5M	$403.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.084%Rate

Funding earned: $13.44
Price spread: −0.084% → +0.024%: −$10.78
Slippage, 4 orders: −$7.44
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$24.78
Costs to cover: 0.274%
Break-even: 19.9 days

Slippage from Kalshi: live order book, 1 min ago; Coinbase International: 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 Kalshi live order book, 1 min ago	1.03 bp	7.9 bp −$8	11.3 bp −$113	18.2 bp −$1,815	doesn't fit
Sell Coinbase International live order book, 2 min ago	0.04 bp	5.2 bp −$5	6.8 bp −$68	13.3 bp −$1,335	122.5 bp −$61.2K

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
Vest SOL-PERP	−0.0085%	1h	116.45	−0.075%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.47	−0.059%	$911	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0032%	1h	116.56	+0.017%	$103K	$700K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.51	−0.024%	$54K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.54	long leg	$1.4M	$18.7M	3.1x
dYdX SOL-USD	+0.0001%	1h	116.50	−0.033%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.42	−0.104%	$1.9M	$2.8M	13x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.48	−0.050%	$99K	$169K	20x	as long as short
ApeX Omni SOLUSDT	+0.0037%	1h	116.55	+0.010%	$1.3M	$6.3M	50x	as long as short
Coinbase International SOL-PERP-INTXshort	+0.0064%	1h	116.44	−0.084%	$7.5M	$403.6M	50x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.41	−0.106%	$30.9M	$100.5M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0076%	1h	116.50	−0.032%	$26.2M	$25.3M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.48	−0.045%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.48	−0.049%	$13.0M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.48	−0.050%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.48	−0.053%	$341K	$236K	20x	as long as short
Katana Perps SOL-USD	+0.0098%	8h	116.50	−0.033%	$50K	$866K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.58	+0.037%	$988K	$534K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.48	−0.045%	$5.5M	$39.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.56	+0.019%	$705.9M	$395.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.46	−0.067%	$175.0M	$182.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.55	+0.012%	$15.7M	$129.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.48	−0.047%	$962.7M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.45	−0.076%	$791.3M	$1.33B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.51	−0.024%	$364.9M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.144%	$232K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.54	−0.002%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	+0.103%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.49	−0.041%	$845.1M	$654.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.52	−0.015%	$416.4M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.46	−0.070%	$126.2M	$216.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.52	−0.016%	$481.1M	$440.1M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.53	−0.007%	—	$364.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.41	−0.110%	$23.2M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.54	+0.006%	$24.4M	$114.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.52	−0.012%	$93.5M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.48	−0.048%	$47.6M	$29.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.55	+0.010%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.49	−0.041%	$321K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.48	−0.051%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.48	−0.052%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.48	−0.049%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.45	−0.076%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.37	−0.144%	$226.0M	$46.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.46	−0.067%	$45.5M	$101.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.50	−0.029%	$7.9M	$36.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.49	−0.038%	—	$228.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.877%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.76	+0.190%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.44	−0.083%	$1.1M	$539K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.49	−0.041%	$51.8M	$71.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.50	−0.029%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.56	+0.015%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0487%	1h	116.66	+0.106%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.64	+0.090%	$1.9M	$4.9M	20x	as long as short