Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Nado against Kalshi−0.069%7-day average −0.002% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Kalshi Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 7 days+0.015%+$1 · spread now −0.069%, 7d avg −0.002%

Together, before fees+0.092%+ Points / potential airdropNado: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.067% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.069% now, against its 7-day average of −0.002%). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	119.24	0	get 0.0000% / 8h	6h 01m	$1.2M	$20.7M	3.1x
Short	Nado SOL-PERP	119.15	0.0100	get 0.0012% / 1h	1m 37s	$6.3M	$42.0M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.069%Rate

Funding earned: $21
Price spread: −0.069% → −0.002%: −$6.69
Slippage, 4 orders: −$10.75
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$13.44
Costs to cover: 0.277%
Break-even: 11.5 days

Slippage from Kalshi: live order book, 2 min ago; Nado: 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	1.17 bp	9.9 bp −$10	12.3 bp −$123	16.9 bp −$1,691	doesn't fit
Sell Nado live order book, 2 min ago	0.42 bp	3.9 bp −$4	3.9 bp −$39	7.9 bp −$793	26.4 bp −$13.2K

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
Injective SOL/USDC PERP	−0.0151%	1h	119.41	+0.146%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.15	−0.072%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0066%	1h	119.11	−0.102%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.08	−0.128%	$2.0M	$3.1M	13x	as long as short
dYdX SOL-USD	−0.0008%	1h	119.18	−0.045%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.19	−0.040%	$54K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	119.24	long leg	$1.2M	$20.7M	3.1x
Perpl SOL	0.0000%	43m	119.17	−0.057%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.19	−0.037%	$26.7M	$27.6M	50x	as long as short
Aftermath Perps SOLUSD	+0.0042%	1h	119.26	+0.022%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0062%	8h	119.19	−0.037%	$232.2M	$44.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0063%	8h	119.19	−0.038%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.24	+0.002%	$120K	$633K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.22	−0.013%	$104K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.16	−0.064%	—	$374.6M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.14	−0.081%	$868.7M	$690.1M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.14	−0.085%	$13.6M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.12	−0.101%	$2.1M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.15	−0.074%	$353K	$748K	20x	as long as short
ApeX Omni SOLUSDT	+0.0097%	1h	119.07	−0.142%	$1.5M	$6.2M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.12	−0.094%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.17	−0.055%	$48K	$785K	20x	as long as short
Nado SOL-PERPshort	+0.0100%	1h	119.15	−0.069%	$6.3M	$42.0M	40x
Hyperliquid SOL	+0.0100%	1h	119.25	+0.012%	$719.3M	$414.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.18	−0.047%	$178.7M	$176.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.18	−0.050%	$12.4M	$115.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.17	−0.055%	$976.7M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.18	−0.044%	$824.3M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.15	−0.072%	$371.4M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.10	−0.114%	$233K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.22	−0.016%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.05	−0.153%	$133.5M	$10.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.13	−0.089%	$438.7M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.15	−0.070%	$140.6M	$198.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.17	−0.060%	$496.5M	$453.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.13	−0.089%	$24.3M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.15	−0.072%	$27.5M	$127.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.17	−0.055%	$95.7M	$398.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.15	−0.074%	$48.8M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.24	+0.003%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.16	−0.064%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.16	−0.065%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.20	−0.032%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.16	−0.060%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.13	−0.089%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.16	−0.064%	$46.5M	$102.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.14	−0.079%	$8.7M	$36.6M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.18	−0.050%	$8.2M	$416.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.25	+0.009%	—	$222.1M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.18	−0.047%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.19	−0.041%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.21	−0.024%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.16	−0.068%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.16	−0.064%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.15	−0.068%	$35.4M	$91.3M	100x	as long as short