Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.020%

Price spread now: ApeX Omni against Katana Perps+0.154%54s7-day average +0.040% · you sell dearer than you buy

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

Long on Katana Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.166%−$17 on $10k

Price spread, last 7 days−0.111%−$11 · spread now +0.154%, 7d avg +0.040%

Together, before fees−0.277%−$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.114% dearer against Katana Perps than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.040%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.69	0.0099	pay 0.0099% / 8h	3h 57m	$48K	$878K	20x
Short	ApeX Omni SOLUSDT	116.87	0.0100	get 0.0013% / 1h	57m 51s	$1.2M	$6.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Katana Perps. 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 Katana PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.154%Rate

Funding earned: $0.24
Price spread: +0.154% → +0.040%: $11.44
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$2.12
Costs to cover: 0.138%
Break-even: 69.6 days

Slippage unknown: Katana Perps: no order-book sample; ApeX Omni: live order book, 1 min ago. 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 Katana Perps no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 1 min ago	0.86 bp	5.9 bp −$6	9.4 bp −$94	74.4 bp −$7,441	doesn't fit

Katana Perps: 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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.64	−0.042%	$30.9M	$100.3M	100x	as long as short
Hibachi SOL/USDT-P	−0.0176%	1h	116.71	+0.015%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0099%	1h	116.65	−0.030%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.69	−0.001%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.68	−0.009%	$54K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.67	−0.017%	$4.4M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.69	−0.003%	$1.5M	$19.0M	3.1x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.56	−0.112%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.64	−0.042%	$7.4M	$404.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	116.64	−0.047%	$1.0M	$5.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SOL	+0.0096%	1h	116.64	−0.040%	$13.0M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.63	−0.052%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.73	+0.034%	$99K	$173K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.62	−0.059%	$347K	$244K	20x	as long as short
Katana Perps SOL-USDlong	+0.0099%	8h	116.69	long leg	$48K	$878K	20x
Paradex SOL-USD-PERP	+0.0100%	8h	116.76	+0.064%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.66	−0.026%	$5.4M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.78	+0.077%	$705.2M	$394.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.66	−0.026%	$174.6M	$182.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.72	+0.026%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.71	+0.016%	$972.3M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.64	−0.043%	$777.2M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.71	+0.017%	$369.1M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.66	−0.026%	$231K	$836K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.72	+0.030%	$925K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	+0.006%	$134.0M	$22.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.66	−0.026%	$843.1M	$653.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	0.000%	$369.8M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.69	−0.003%	$128.9M	$221.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.67	−0.021%	$479.1M	$441.6M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.67	−0.021%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.67	−0.017%	$23.1M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.91	+0.192%	$24.6M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.91	+0.190%	$93.9M	$398.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.84	+0.129%	$47.8M	$30.0M	20x	as long as short
ApeX Omni SOLUSDTshort	+0.0100%	1h	116.87	+0.154%	$1.2M	$6.7M	50x
StandX SOL-USD	+0.0100%	1h	116.74	+0.043%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.68	−0.009%	$322K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.69	−0.002%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.67	−0.017%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.68	−0.005%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.62	−0.060%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.56	−0.113%	$226.1M	$47.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.69	0.000%	$45.6M	$102.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.63	−0.052%	$8.3M	$37.4M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	+0.026%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.68	−0.012%	—	$231.4M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0126%	1h	116.67	−0.014%	$26.3M	$23.4M	50x	as long as short
Phoenix SOL	+0.0137%	1h	116.99	+0.257%	$6.5M	$13.3M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.65	−0.033%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.68	−0.009%	$51.9M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.69	−0.001%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.71	+0.016%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0507%	1h	116.78	+0.080%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.77	+0.068%	$1.9M	$4.8M	20x	as long as short