Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.029%

Price spread now: 01 Exchange against Kalshi+0.094%7-day average +0.002% · 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−$36as in the Price arb table

costs, in and out, $10k−$450.452% of the position

Long on Kalshi Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.119%+$12 on $10k

Price spread, last 4 days (all we have)−0.793%−$79 · spread now +0.094%, 7d avg +0.002%

Together, before fees−0.674%−$67 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 01 Exchange is 0.092% dearer against Kalshi than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	116.71	0	get 0.0000% / 8h	25m 41s	$1.5M	$18.7M	3.1x
Short	01 Exchange SOLUSD	116.82	0.0048	get 0.0006% / 1h	25m 41s	$99K	$172K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.094%Rate

Funding earned: $10.08
Price spread: +0.094% → +0.002%: $9.23
Slippage, 4 orders: −$28.16
Fee Kalshi: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$25.85
Costs to cover: 0.452%
Break-even: 24.9 days

Slippage from Kalshi: live order book, 3 min ago; 01 Exchange: live order book, 33 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, 3 min ago	1.54 bp	8.3 bp −$8	12.9 bp −$129	19.5 bp −$1,950	doesn't fit
Sell 01 Exchange live order book, 33 min ago	0.86 bp	14.6 bp −$15	21.2 bp −$212	doesn't fit	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
Hibachi SOL/USDT-P	−0.0120%	1h	116.66	−0.043%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.64	−0.057%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.68	−0.026%	$912	$8K	25x	as long as short
Derive SOL-PERP	−0.0014%	1h	116.62	−0.075%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.68	−0.024%	$54K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.71	long leg	$1.5M	$18.7M	3.1x
dYdX SOL-USD	+0.0001%	1h	116.72	+0.007%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSDshort	+0.0048%	1h	116.82	+0.094%	$99K	$172K	20x
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.77	+0.055%	$7.5M	$405.3M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.75	+0.035%	$31.1M	$100.3M	100x	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	+0.0091%	8h	116.70	−0.006%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.72	+0.011%	$13.1M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.71	−0.003%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.67	−0.036%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.71	0.000%	$51K	$868K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.78	+0.059%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.70	−0.010%	$5.4M	$39.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.81	+0.086%	$705.2M	$396.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.74	+0.026%	$174.9M	$182.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.76	+0.044%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.77	+0.047%	$969.7M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.71	0.000%	$783.6M	$1.34B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.77	+0.051%	$369.5M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.71	0.000%	$231K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.79	+0.071%	$928K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.223%	$133.2M	$20.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.75	+0.034%	$843.1M	$661.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.77	+0.051%	$391.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.73	+0.021%	$128.0M	$218.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.73	+0.018%	$479.7M	$441.3M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.74	+0.022%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.71	0.000%	$23.3M	$38.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.61	−0.083%	$24.3M	$113.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.76	+0.039%	$93.7M	$398.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.89	+0.150%	$47.8M	$29.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.96	+0.217%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.71	0.000%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.68	−0.026%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.65	−0.052%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.66	−0.045%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.74	+0.027%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.72	+0.009%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.64	−0.061%	$226.3M	$47.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.72	+0.009%	$45.7M	$102.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.73	+0.015%	$8.3M	$37.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.66	−0.043%	—	$231.0M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.73	+0.017%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.94	+0.197%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0150%	1h	116.77	+0.047%	$26.4M	$25.4M	50x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.65	−0.053%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.76	+0.043%	$51.7M	$68.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0236% / S −0.0181%	1h	116.67	−0.037%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.71	+0.003%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0528%	1h	116.76	+0.040%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.85	+0.120%	$1.9M	$4.9M	20x	as long as short