Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Ondo Perps against Kalshi−0.128%7-day average −0.019% · you buy dearer than you sell

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

Long on Kalshi Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.128%, 7d avg −0.019%

Together, before fees+0.084%+ Points / potential airdropOndo Perps: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.109% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.019%). If the spread goes back, that is −$11 on $10k: about 3.6 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.063% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	116.55	0	get 0.0000% / 8h	6h 16m	$1.5M	$19.4M	3.1x
Short	Ondo Perps SOL-USD.P	116.40	0.0100	get 0.0013% / 1h	16m 48s	$216K	$878K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo 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 Ondo PerpsbpOrdersPrice spread, now −0.128%Rate

Funding earned: $21
Price spread: −0.128% → −0.019%: −$10.9
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$4.9
Costs to cover: 0.150%
Break-even: 8.6 days

Slippage unknown: Kalshi: live order book, 2 min ago; Ondo 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, 2 min ago	1.20 bp	7.8 bp −$8	12.0 bp −$120	18.7 bp −$1,870	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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	−0.0240%	1h	116.53	−0.020%	$31.9M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0128%	1h	116.50	−0.046%	$104K	$693K	20x	as long as short
BingX SOL-USDC	−0.0112%	8h	116.43	−0.104%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0107%	8h	116.46	−0.074%	$740.5M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.57	+0.015%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0052%	1h	116.51	−0.036%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0011%	1h	116.45	−0.084%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.52	−0.023%	$42K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.55	long leg	$1.5M	$19.4M	3.1x
Perpl SOL	0.0000%	43m	116.54	−0.006%	$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	+0.0009%	1h	116.49	−0.053%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.55	+0.001%	$100K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.54	−0.006%	$7.7M	$405.6M	50x	as long as short
Bitget SOLUSDT	+0.0064%	8h	116.48	−0.060%	$479.8M	$460.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	116.53	−0.013%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.52	−0.025%	$13.0M	$61.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.51	−0.037%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.52	−0.027%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.52	−0.025%	$64K	$912K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.59	+0.037%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.51	−0.033%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.58	+0.027%	$696.6M	$406.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.47	−0.068%	$175.6M	$176.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.54	−0.006%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.50	−0.042%	$971.9M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.50	−0.042%	$364.1M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.Pshort	+0.0100%	1h	116.40	−0.128%	$216K	$878K	10x
Arcus SOL-USD	+0.0100%	1h	116.60	+0.040%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.85	−0.598%	$123.9M	$22.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.48	−0.059%	$842.8M	$673.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.48	−0.059%	$354.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.43	−0.100%	$126.7M	$230.6M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.49	−0.051%	$23.0M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.99	−0.476%	$24.8M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.07	−0.415%	$93.2M	$407.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.40	−0.126%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.44	−0.090%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.45	−0.085%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.52	−0.025%	$319K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.52	−0.027%	$169K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.54	−0.011%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.52	−0.028%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.52	−0.025%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.53	−0.014%	$225.7M	$50.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.50	−0.042%	$45.3M	$105.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.37	−0.150%	$8.0M	$39.3M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0108%	1h	116.58	+0.026%	$26.3M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.53	−0.021%	—	$239.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.763%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.37	−0.154%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	116.50	−0.046%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.50	−0.042%	$51.8M	$68.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.51	−0.032%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.63	+0.074%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0559%	1h	116.18	−0.315%	$25K	$55K	20x	as long as short