Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0185%/8h= +20.2% APRpaid last 24h +0.062%

Price spread now: Reya against Kalshi−0.173%7-day average −0.001% · you buy dearer than you sell

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

Long on Kalshi Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.206%+$21 on $10k

Price spread, last 3 days (all we have)+0.330%+$33 · spread now −0.173%, 7d avg −0.001%

Together, before fees+0.536%+ Points / potential airdropReya: Active · farm board+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.172% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.173% now, against its 7-day average of −0.001%). If the spread goes back, that is −$17 on $10k: about 3.1 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	118.90	0	get 0.0000% / 8h	3h 55m	$1.2M	$20.8M	3.1x
Short	Reya SOLRUSDPERP	118.70	0.0185	get 0.0023% / 1h	55m 59s	$1.1M	$531K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ReyabpOrdersPrice spread, now −0.173%Rate

Funding earned: $38.82
Price spread: −0.173% → −0.001%: −$17.18
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $5.65
Costs to cover: 0.160%
Break-even: 6.0 days

Slippage unknown: Kalshi: live order book, 3 min ago; Reya: 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, 3 min ago	2.44 bp	7.7 bp −$8	10.9 bp −$109	20.0 bp −$1,998	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Hotstuff SOL-PERP	−0.0080%	1h	118.86	−0.036%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	118.71	−0.161%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.69	−0.180%	$2.0M	$2.8M	13x	as long as short
dYdX SOL-USD	−0.0031%	1h	118.87	−0.029%	$4.9M	$28.0M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.82	−0.073%	$32.6M	$97.0M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.75	−0.130%	$55K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	118.90	long leg	$1.2M	$20.8M	3.1x
Perpl SOL	0.0000%	43m	118.73	−0.149%	$175K	$3.9M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0029%	1h	118.78	−0.104%	$1.5M	$6.1M	50x	as long as short
Gate SOL_USDT	+0.0037%	8h	118.78	−0.105%	$861.0M	$658.0M	100x	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	118.77	−0.114%	$103K	$159K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0078%	8h	118.78	−0.107%	$1.0M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.71	−0.165%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	118.87	−0.030%	$121K	$642K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.82	−0.071%	$8.1M	$416.2M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.78	−0.105%	$13.4M	$54.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.79	−0.097%	$2.1M	$16.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.78	−0.105%	$352K	$570K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.79	−0.095%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.81	−0.080%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.74	−0.141%	$5.8M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.91	+0.004%	$720.0M	$408.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.78	−0.101%	$178.4M	$177.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.87	−0.032%	$12.2M	$122.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.73	−0.143%	$978.5M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.75	−0.128%	$823.2M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.71	−0.164%	$370.8M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.70	−0.172%	$231K	$877K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.83	−0.059%	$1.9M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.81	−0.077%	$133.9M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.73	−0.147%	$429.7M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.75	−0.133%	$138.0M	$207.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.76	−0.119%	$492.7M	$457.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.81	−0.080%	$24.2M	$38.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	−0.039%	$27.1M	$128.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.86	−0.040%	$95.5M	$402.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.90	−0.004%	$48.7M	$30.5M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.86	−0.038%	$1.4M	$13.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.74	−0.139%	$355K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.72	−0.154%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.77	−0.110%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.79	−0.099%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.79	−0.097%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	118.71	−0.167%	$231.0M	$45.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.80	−0.088%	$46.5M	$102.4M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.85	−0.046%	$6.6M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.75	−0.128%	$8.7M	$36.0M	50x	as long as short
Aftermath Perps SOLUSD	+0.0119%	1h	118.80	−0.085%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.88	−0.019%	—	$224.9M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0127%	1h	118.83	−0.066%	$26.6M	$25.3M	50x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.79	−0.093%	$1.8M	$4.8M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0166% / S −0.0084%	1h	118.73	−0.145%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	118.66	−0.206%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERPshort	+0.0185%	1h	118.70	−0.173%	$1.1M	$531K	25x
BloFin SOL-USDT	+0.0220%	8h	118.84	−0.055%	$51.8M	$80.2M	125x	as long as short