Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against Katana Perps0.000%7-day average +0.153% · you sell dearer than you buy

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

Long on Katana Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 7 days−0.812%−$81 · spread now 0.000%, 7d avg +0.153%

Together, before fees−0.814%−$81 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: Backpack is 0.153% cheaper against Katana Perps than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.153%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	117.26	0.0100	pay 0.0100% / 8h	6h 21m	$45K	$867K	20x
Short	Backpack SOL_USDC_PERP	117.26	0.0100	get 0.0013% / 1h	21m 56s	$23.2M	$35.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.04
Price spread: 0.000% → +0.153%: −$15.34
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$29.09
Costs to cover: 0.138%
Break-even: 4624.9 days

Slippage unknown: Katana Perps: no order-book sample; Backpack: live order book, 5 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 Backpack live order book, 5 min ago	0.43 bp	5.4 bp −$5	5.7 bp −$57	7.7 bp −$772	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 54 exchanges

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
Bluefin SOL-PERP	−0.0872%	1h	117.28	+0.018%	$27K	$35K	25x	as long as short
Hibachi SOL/USDT-P	−0.0160%	1h	117.15	−0.094%	$100K	$651K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.17	−0.072%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0047%	8h	117.19	−0.060%	$734.7M	$1.27B	100x	as long as short
Vest SOL-PERP	−0.0001%	1h	117.24	−0.021%	—	$287K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.29	+0.022%	$39K	—	150x	as long as short
Perpl SOL	0.0000%	43m	117.21	−0.042%	$100K	$2.9M	8.3x	as long as short
Bitget SOLUSDT	+0.0027%	8h	117.18	−0.065%	$483.1M	$414.4M	100x	as long as short
Injective SOL/USDC PERP	+0.0033%	1h	116.85	−0.350%	$4K	$122	12x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.28	+0.017%	$8.4M	$377.0M	50x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SOLUSDT	+0.0044%	8h	117.19	−0.058%	$177.8M	$159.0M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0054%	1h	117.31	+0.045%	$26.4M	$18.7M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	117.28	+0.013%	$1.0M	$5.3M	100x	as long as short
Gate SOL_USDT	+0.0057%	8h	117.21	−0.043%	$851.5M	$599.1M	100x	as long as short
SoDEX SOL-USD	+0.0060%	1h	117.25	−0.009%	$6.2M	$11.1M	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.30	+0.034%	$101K	$181K	20x	as long as short
ApeX Omni SOLUSDT	+0.0087%	1h	117.24	−0.020%	$1.1M	$6.7M	50x	as long as short
MEXC SOL_USDT	+0.0093%	8h	117.18	−0.068%	$429.3M	$993.0M	300x	as long as short
Binance SOLUSDT	+0.0094%	8h	117.20	−0.055%	$967.8M	$3.51B	100x	as long as short
Lighter SOL	+0.0096%	1h	117.26	+0.002%	$13.2M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.24	−0.015%	$2.2M	$13.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.24	−0.020%	$357K	$250K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.24	−0.014%	$1.0M	$557K	50x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	117.26	long leg	$45K	$867K	20x
Nado SOL-PERP	+0.0100%	1h	117.26	+0.004%	$5.6M	$39.7M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.23	−0.028%	$16.0M	$119.9M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.20	−0.051%	$361.2M	$1.60B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.04	−0.188%	$222K	$781K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.27	+0.012%	$899K	$7.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.25	−0.006%	$127.0M	$16.9M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.21	−0.039%	$134.2M	$230.0M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.14	−0.101%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERPshort	+0.0100%	1h	117.26	0.000%	$23.2M	$35.5M	50x
Variational Omni SOL	+0.0100%	8h	117.11	−0.127%	$25.1M	$100.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.12	−0.117%	$94.0M	$383.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.33	+0.057%	$48.0M	$25.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.13	−0.111%	$1.3M	$10.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.28	+0.017%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.29	+0.024%	$284K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.15	−0.097%	$190K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.24	−0.021%	$226.9M	$42.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.23	−0.026%	$45.5M	$101.3M	50x	as long as short
Kalshi KXSOLPERP	+0.0101%	8h	117.26	+0.004%	$1.3M	$16.4M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.15	−0.094%	$8.5M	$33.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.17	−0.076%	—	$214.3M	500x	as long as short
dYdX SOL-USD	+0.0124%	1h	117.21	−0.046%	$9.3M	$18.5M	20x	as long as short
Phoenix SOL	+0.0129%	1h	117.19	−0.060%	$6.6M	$12.8M	25x	as long as short
Hyperliquid SOL	+0.0151%	1h	117.37	+0.095%	$718.9M	$374.5M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0185%	1h	117.26	+0.004%	$32.6M	$94.1M	100x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.25	−0.007%	$1.1M	$94K	25x	as long as short
BloFin SOL-USDT	+0.0214%	8h	117.12	−0.119%	$51.7M	$58.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0170%	1h	117.29	+0.025%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0273%	1h	117.33	+0.057%	$2.2M	$4.5M	20x	as long as short
Aftermath Perps SOLUSD	+0.0407%	1h	117.18	−0.072%	$25K	$54K	20x	as long as short