Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.030%

Price spread now: Kraken Futures against Kalshi+0.049%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

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

costs, in and out, $10k−$320.316% of the position

Long on Kalshi Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 3 days (all we have)−0.124%−$12 · spread now +0.049%, 7d avg +0.006%

Together, before fees−0.032%−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.043% dearer against Kalshi than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of +0.006%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 10 days. Mind the row above: over the last 7 days funding on this pair paid +0.092%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	118.99	0	get 0.0000% / 8h	3h 36m	$1.2M	$20.3M	3.1x
Short	Kraken Futures PF_SOLUSD	119.05	−0.0014	pay 0.0002% / 1h	36m 52s	$32.4M	$96.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$2.94
Price spread: +0.049% → +0.006%: $4.26
Slippage, 4 orders: −$11.57
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$30.25
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; Kraken Futures: 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, 2 min ago	1.01 bp	7.5 bp −$7	11.2 bp −$112	16.5 bp −$1,651	doesn't fit
Sell Kraken Futures live order book, 2 min ago	0.42 bp	7.1 bp −$7	8.7 bp −$87	12.1 bp −$1,214	22.0 bp −$11.0K

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
Hotstuff SOL-PERP	−0.0080%	1h	118.95	−0.032%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.91	−0.065%	—	$610K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.95	−0.030%	$2.0M	$2.7M	13x	as long as short
HTX SOL-USDT	−0.0015%	8h	118.94	−0.042%	$231.4M	$44.0M	75x	as long as short
Kraken Futures PF_SOLUSDshort	−0.0014%	1h	119.05	+0.049%	$32.4M	$96.7M	100x
dYdX SOL-USD	−0.0010%	1h	119.04	+0.042%	$5.0M	$26.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.04	+0.044%	$55K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	118.99	long leg	$1.2M	$20.3M	3.1x
Perpl SOL	0.0000%	43m	118.99	+0.001%	$154K	$3.9M	8.3x	as long as short
Phemex SOLUSDT	+0.0036%	8h	119.00	+0.010%	$46.6M	$100.7M	50x	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	+0.0040%	1h	118.99	+0.002%	$104K	$159K	20x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	118.86	−0.104%	$121K	$632K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.00	+0.013%	—	$10.5M	—	as long as short
Orderly PERP_SOL_USDC	+0.0080%	8h	119.03	+0.039%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.07	+0.068%	$8.1M	$412.1M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.03	+0.039%	$14.2M	$55.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.03	+0.034%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.03	+0.036%	$349K	$245K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.97	−0.011%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.94	−0.040%	$47K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.01	+0.023%	$5.8M	$41.0M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.04	+0.046%	$179.1M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.99	+0.001%	$12.2M	$123.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.04	+0.045%	$980.5M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.05	+0.055%	$824.7M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.04	+0.044%	$371.5M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	−0.108%	$233K	$851K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.93	−0.049%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.80	−0.158%	$134.2M	$6.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	119.03	+0.035%	$858.9M	$663.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.04	+0.044%	$427.2M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.05	+0.055%	$138.3M	$202.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.03	+0.033%	$494.1M	$442.0M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.04	+0.044%	$24.2M	$37.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.79	−0.169%	$27.0M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.90	−0.070%	$95.5M	$404.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.81	−0.148%	$48.7M	$29.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.87	−0.099%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.86	−0.108%	$1.4M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.00	+0.010%	$359K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.02	+0.029%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.03	+0.032%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.94	−0.038%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.02	+0.027%	$6.3M	$10.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.02	+0.023%	$8.6M	$35.2M	50x	as long as short
Hyperliquid SOL	+0.0105%	1h	119.15	+0.136%	$722.1M	$399.0M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0111%	1h	119.09	+0.084%	$26.7M	$24.8M	50x	as long as short
Phoenix SOL	+0.0114%	1h	118.97	−0.015%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.98	−0.005%	—	$220.1M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.97	−0.015%	$1.8M	$4.6M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0165% / S −0.0081%	1h	119.03	+0.038%	$3.7M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0169%	1h	118.85	−0.117%	$25K	$50K	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	118.66	−0.276%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	119.00	+0.009%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.03	+0.035%	$51.9M	$78.4M	125x	as long as short