Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.015%

Price spread now: Jupiter Perps against Kalshi−0.057%7-day average +0.004% · you buy dearer than you sell

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

Long on Kalshi Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.069%−$7 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.057%, 7d avg +0.004%

Together, before fees−0.087%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Jupiter Perps is 0.061% cheaper against Kalshi than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	115.78	0	get 0.0000% / 8h	6h 22m	$1.5M	$19.3M	3.1x
Short	Jupiter Perps SOL-PERP	115.71	L +0.0120% / S +0.0048%	pay 0.0006% / 1h	22m 44s	—	$240.4M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps 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 Jupiter PerpsbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$10.08
Price spread: −0.057% → +0.004%: −$6.07
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$38.15
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 1 min ago; Jupiter 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 Kalshi live order book, 1 min ago	1.51 bp	7.7 bp −$8	12.7 bp −$127	22.0 bp −$2,202	doesn't fit
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter 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
Kraken Futures PF_SOLUSD	−0.0241%	1h	115.76	−0.015%	$31.6M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0160%	1h	115.78	+0.002%	$104K	$693K	20x	as long as short
BingX SOL-USDC	−0.0116%	8h	115.82	+0.032%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0110%	8h	115.90	+0.105%	$740.6M	$1.42B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.25	+0.408%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0073%	1h	115.67	−0.090%	$1.9M	$2.9M	13x	as long as short
Vest SOL-PERP	−0.0072%	1h	115.72	−0.049%	—	$625K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.73	−0.043%	$41K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	115.78	long leg	$1.5M	$19.3M	3.1x
Perpl SOL	0.0000%	43m	115.72	−0.049%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0011%	1h	115.90	+0.105%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0024%	1h	115.74	−0.034%	$98K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.79	+0.010%	$7.7M	$402.9M	50x	as long as short
Bitget SOLUSDT	+0.0065%	8h	115.83	+0.042%	$477.4M	$457.2M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0071%	1h	115.80	+0.017%	$26.2M	$22.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	115.77	−0.008%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.88	+0.085%	$12.9M	$61.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.91	+0.111%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.74	−0.032%	$348K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.68	−0.086%	$62K	$911K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	115.80	+0.014%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.75	−0.021%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.97	+0.161%	$685.6M	$400.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	115.89	+0.096%	$175.2M	$179.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	115.79	+0.011%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.91	+0.117%	$966.1M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.94	+0.139%	$361.3M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.77	−0.008%	$215K	$870K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.74	−0.037%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.84	+0.054%	$125.6M	$19.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.87	+0.079%	$840.8M	$669.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.88	+0.087%	$357.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.85	+0.061%	$125.2M	$230.0M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.81	+0.027%	$22.8M	$38.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.53	−0.219%	$24.7M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.59	−0.164%	$92.8M	$406.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.67	−0.094%	$47.3M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.61	−0.146%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.81	+0.027%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.69	−0.077%	$318K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	115.71	−0.061%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.74	−0.035%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.76	−0.020%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.76	−0.016%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.70	−0.067%	$224.1M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	115.79	+0.010%	$45.1M	$104.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	115.84	+0.052%	$7.9M	$38.8M	50x	as long as short
Jupiter Perps SOL-PERPshort	L +0.0120% / S +0.0048%	1h	115.71	−0.057%	—	$240.4M	500x
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.103%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	115.69	−0.077%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.68	−0.088%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.79	+0.010%	$51.6M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.71	−0.064%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.76	−0.015%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0576%	1h	115.77	−0.011%	$25K	$53K	20x	as long as short