Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h +0.030%

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

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Kalshi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 7 days+0.116%+$12 · spread now −0.128%, 7d avg −0.019%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.110% 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 9.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	116.84	0	get 0.0000% / 8h	3h 59m	$1.5M	$19.0M	3.1x
Short	Polymarket Perps SOL-USD	116.69	0.0037	get 0.0005% / 1h	59m 10s	$321K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.128%Rate

Funding earned: $7.83
Price spread: −0.128% → −0.019%: −$10.98
Slippage, 4 orders: −$8.29
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$29.44
Costs to cover: 0.263%
Break-even: 33.3 days

Slippage from Kalshi: live order book, 5 min ago; Polymarket Perps: live order book, 5 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, 5 min ago	1.33 bp	9.2 bp −$9	11.7 bp −$117	18.5 bp −$1,846	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	0.43 bp	5.0 bp −$5	6.4 bp −$64	16.9 bp −$1,693	doesn't fit

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	−0.0193%	1h	116.67	−0.150%	$31.0M	$100.2M	100x	as long as short
Hibachi SOL/USDT-P	−0.0176%	1h	116.98	+0.120%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0099%	1h	116.70	−0.119%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.93	+0.076%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.68	−0.139%	$54K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.84	long leg	$1.5M	$19.0M	3.1x
dYdX SOL-USD	+0.0003%	1h	116.84	−0.002%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.61	−0.197%	$1.9M	$2.8M	13x	as long as short
Polymarket Perps SOL-USDshort	+0.0037%	1h	116.69	−0.128%	$321K	$2.6M	20x
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.68	−0.140%	$7.5M	$404.0M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0093%	8h	116.70	−0.123%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.68	−0.139%	$13.0M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.67	−0.150%	$2.2M	$16.6M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.77	−0.060%	$99K	$173K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.68	−0.140%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.77	−0.060%	$47K	$877K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.90	+0.051%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.69	−0.127%	$5.4M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.70	−0.124%	$704.7M	$394.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.68	−0.139%	$174.7M	$182.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.82	−0.014%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.65	−0.163%	$971.8M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.55	−0.252%	$778.2M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.60	−0.205%	$369.1M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.66	−0.154%	$231K	$836K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.84	+0.004%	$926K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	−0.122%	$134.0M	$22.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.63	−0.180%	$842.8M	$653.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.61	−0.197%	$369.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.67	−0.150%	$129.1M	$221.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.57	−0.229%	$478.8M	$441.8M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.58	−0.223%	—	$365.9M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.60	−0.205%	$23.1M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.91	+0.064%	$24.6M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.91	+0.062%	$93.9M	$398.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.84	0.000%	$47.8M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.87	+0.026%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.92	+0.068%	$1.3M	$12.9M	30x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.67	−0.144%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.68	−0.140%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.68	−0.140%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.67	−0.145%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.63	−0.176%	$226.3M	$47.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.68	−0.137%	$45.6M	$102.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.61	−0.196%	$8.3M	$37.4M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	−0.103%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.89	+0.043%	—	$231.3M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0122%	1h	116.74	−0.090%	$26.3M	$23.5M	50x	as long as short
Phoenix SOL	+0.0137%	1h	116.99	+0.128%	$6.5M	$13.3M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.64	−0.170%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.68	−0.137%	$51.9M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.68	−0.134%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.71	−0.112%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0510%	1h	116.83	−0.011%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.89	+0.046%	$1.9M	$4.8M	20x	as long as short