Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.072%

Price spread now: RISEx against Kalshi0.000%7-day average −0.025% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.180%+$18 on $10k

Price spread, last 7 days−0.032%−$3 · spread now 0.000%, 7d avg −0.025%

Together, before fees+0.148%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and RISEx is 0.026% dearer against Kalshi than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	117.47	0	get 0.0000% / 8h	2h 00m	$1.4M	$20.2M	3.1x
Short	RISEx SOL/USDC	117.47	0.0018	get 0.0002% / 1h	0m 05s	$1.9M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now 0.000%Rate

Funding earned: $3.84
Price spread: 0.000% → −0.025%: $2.56
Slippage, 4 orders: −$8.94
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$18.53
Costs to cover: 0.249%
Break-even: 40.8 days

Slippage from Kalshi: live order book, 4 min ago; RISEx: live order book, 4 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, 4 min ago	1.53 bp	10.0 bp −$10	12.3 bp −$123	19.6 bp −$1,964	doesn't fit
Sell RISEx live order book, 4 min ago	0.04 bp	3.6 bp −$4	7.0 bp −$70	doesn't fit	doesn't fit

SOL on 54 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	117.47	−0.003%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.37	−0.084%	—	$607K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.39	−0.069%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.42	−0.043%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	117.47	long leg	$1.4M	$20.2M	3.1x
RISEx SOL/USDCshort	+0.0018%	1h	117.47	0.000%	$1.9M	$4.9M	20x
Derive SOL-PERP	+0.0021%	1h	117.33	−0.124%	$2.0M	$2.8M	13x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0024%	1h	117.43	−0.034%	$26.4M	$25.6M	50x	as long as short
HTX SOL-USDT	+0.0036%	8h	117.37	−0.084%	$228.1M	$45.4M	75x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.39	−0.067%	$31.5M	$98.3M	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0064%	1h	117.54	+0.056%	$100K	$690K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.41	−0.054%	$8.0M	$403.7M	50x	as long as short
Gate SOL_USDT	+0.0074%	8h	117.37	−0.087%	$847.9M	$668.7M	100x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.41	−0.054%	—	$368.0M	—	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.41	−0.053%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.39	−0.070%	$13.0M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.38	−0.082%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.45	−0.019%	$100K	$161K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.43	−0.033%	$344K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.45	−0.018%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.42	−0.044%	$67K	$840K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.45	−0.019%	$5.8M	$40.2M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.39	−0.072%	$176.2M	$177.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.47	−0.004%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.47	−0.002%	$968.4M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.49	+0.015%	$820.2M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.50	+0.024%	$366.0M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.37	−0.087%	$238K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.45	−0.021%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.39	−0.070%	$423.3M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.39	−0.070%	$130.4M	$211.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.46	−0.007%	$486.8M	$435.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.39	−0.070%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.45	−0.015%	$24.3M	$120.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.52	+0.045%	$94.4M	$404.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.43	−0.040%	$48.1M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.51	+0.032%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.48	+0.007%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.41	−0.053%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.40	−0.065%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.40	−0.059%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.37	−0.088%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.40	−0.061%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.40	−0.061%	$45.7M	$100.5M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.46	−0.014%	$134.5M	$14.2M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.53	+0.049%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.46	−0.013%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.46	−0.010%	—	$221.8M	500x	as long as short
Hyperliquid SOL	+0.0124%	1h	117.53	+0.049%	$717.0M	$395.2M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.38	−0.081%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.45	−0.019%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.39	−0.069%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0360%	1h	117.50	+0.021%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.45	−0.020%	$128K	$3.8M	8.3x	as long as short