SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.027%

Price spread now: Phemex against Kalshi−0.076%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.076%, 7d avg +0.005%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.081% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of +0.005%). If the spread goes back, that is −$8 on $10k: about 2.7 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	116.65	0	get 0.0000% / 8h	1h 30m	$1.3M	$15.5M	3.1x
Short	Phemex SOLUSDT	116.56	0.0100	get 0.0100% / 8h	5h 30m	$45.3M	$99.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.076%Rate

Funding earned: $21
Price spread: −0.076% → +0.005%: −$8.15
Slippage, 4 orders: −$9.84
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.98
Costs to cover: 0.318%
Break-even: 13.3 days

Slippage from Kalshi: live order book, 1 min ago; Phemex: live order book, 6 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	1.29 bp	7.4 bp −$7	12.0 bp −$120	19.6 bp −$1,958	doesn't fit
Sell Phemex live order book, 6 min ago	0.43 bp	8.4 bp −$8	9.0 bp −$90	14.9 bp −$1,494	doesn't fit

SOL on 54 exchanges

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
Hibachi SOL/USDT-P	−0.0280%	1h	116.60	−0.039%	$98K	$634K	20x	as long as short
Bybit SOLUSDT	−0.0047%	8h	116.53	−0.102%	$725.2M	$1.23B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.60	−0.039%	$41K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.65	long leg	$1.3M	$15.5M	3.1x
Perpl SOL	0.0000%	43m	116.59	−0.047%	$98K	$2.6M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	116.58	−0.063%	$26.2M	$17.9M	50x	as long as short
Vest SOL-PERP	+0.0007%	1h	116.60	−0.043%	—	$272K	20x	as long as short
SoDEX SOL-USD	+0.0012%	1h	116.51	−0.119%	$6.0M	$11.2M	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.52	−0.112%	$480.0M	$394.7M	100x	as long as short
Aster SOLUSDT	+0.0037%	8h	116.52	−0.109%	$176.6M	$155.4M	100x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0040%	1h	116.60	−0.042%	$101K	$183K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.52	−0.114%	$8.4M	$363.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0043%	8h	116.57	−0.071%	$990K	$5.0M	100x	as long as short
Aevo SOL-PERP	+0.0064%	1h	116.49	−0.139%	$347K	$260K	20x	as long as short
MEXC SOL_USDT	+0.0066%	8h	116.51	−0.119%	$475.6M	$956.7M	300x	as long as short
Binance SOLUSDT	+0.0066%	8h	116.52	−0.108%	$964.6M	$3.41B	100x	as long as short
Phoenix SOL	+0.0075%	1h	116.78	+0.112%	$6.7M	$12.2M	25x	as long as short
ApeX Omni SOLUSDT	+0.0080%	1h	116.78	+0.112%	$995K	$6.5M	50x	as long as short
Hotstuff SOL-PERP	+0.0080%	1h	117.16	+0.438%	$1K	$8K	25x	as long as short
Gate SOL_USDT	+0.0083%	8h	116.52	−0.111%	$835.6M	$591.8M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0083%	1h	116.53	−0.106%	$33.2M	$92.6M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.51	−0.117%	$13.0M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.51	−0.119%	$2.2M	$13.6M	25x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.55	−0.085%	$44K	$886K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.60	−0.043%	$1.0M	$554K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.58	−0.057%	$5.6M	$38.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.63	−0.016%	$718.7M	$369.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.62	−0.024%	$15.8M	$116.1M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.53	−0.102%	$357.5M	$1.54B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.55	−0.085%	$219K	$739K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.65	+0.001%	$1.2M	$8.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.95	+0.258%	$126.9M	$10.6M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.50	−0.128%	$133.0M	$223.8M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.51	−0.119%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.52	−0.111%	$23.0M	$35.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.82	+0.142%	$25.0M	$96.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.49	−0.140%	$93.6M	$365.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.59	−0.052%	$47.7M	$25.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.54	−0.093%	$1.3M	$10.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.58	−0.059%	$322K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.63	−0.015%	$283K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.57	−0.068%	$25K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.51	−0.123%	$189K	$1.4M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.56	−0.075%	$225.5M	$40.3M	75x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	116.56	−0.076%	$45.3M	$99.1M	50x
Extended SOL-USD	+0.0104%	1h	116.45	−0.168%	$8.5M	$33.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	116.61	−0.033%	—	$210.4M	500x	as long as short
BloFin SOL-USDT	+0.0187%	8h	116.48	−0.145%	$51.6M	$56.5M	125x	as long as short
Reya SOLRUSDPERP	+0.0200%	1h	116.57	−0.065%	$1.1M	$88K	25x	as long as short
dYdX SOL-USD	+0.0200%	1h	116.62	−0.023%	$9.2M	$17.9M	20x	as long as short
Injective SOL/USDC PERP	+0.0206%	1h	116.85	+0.172%	$4K	$117	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0171%	1h	116.61	−0.037%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0250%	1h	116.63	−0.017%	$2.1M	$4.0M	20x	as long as short
Aftermath Perps SOLUSD	+0.0388%	1h	116.77	+0.108%	$25K	$46K	20x	as long as short