Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Binance against Katana Perps−0.004%7-day average +0.044% · you buy dearer than you sell

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

Long on Katana Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days−0.011%−$1 · spread now −0.004%, 7d avg +0.044%

Together, before fees−0.015%−$1 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: Binance is 0.048% cheaper against Katana Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	118.95	0.0100	pay 0.0100% / 8h	2h 47m	$46K	$785K	20x
Short	Binance SOLUSDT	118.95	0.0100	get 0.0100% / 8h	2h 47m	$972.3M	$3.75B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.004%Rate

Funding earned: $0.04
Price spread: −0.004% → +0.044%: −$4.75
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$18.51
Costs to cover: 0.138%
Break-even: 2945.2 days

Slippage unknown: Katana Perps: no order-book sample; Binance: live order book, 11 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 Binance live order book, 11 min ago	0.42 bp	5.4 bp −$5	5.4 bp −$54	8.0 bp −$801	16.3 bp −$8,134

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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	−0.050%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.89	−0.054%	$2.0M	$3.2M	13x	as long as short
ApeX Omni SOLUSDT	−0.0100%	1h	118.77	−0.149%	$1.5M	$6.2M	50x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.86	−0.076%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.75	−0.170%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0059%	1h	118.94	−0.008%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.98	+0.022%	$48K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.98	+0.025%	$4.9M	$26.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.87	−0.071%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.94	−0.010%	$180K	$4.1M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0026%	1h	119.02	+0.062%	$26.7M	$27.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0057%	8h	118.97	+0.013%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.90	−0.042%	$105K	$152K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.91	−0.033%	$231.7M	$43.6M	75x	as long as short
Gate SOL_USDT	+0.0084%	8h	118.89	−0.050%	$858.5M	$676.0M	100x	as long as short
KuCoin SOLUSDTM	+0.0092%	8h	118.94	−0.008%	$144.2M	$197.6M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.92	−0.022%	$13.4M	$53.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.93	−0.017%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.99	+0.036%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.89	−0.053%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	118.95	long leg	$46K	$785K	20x
Nado SOL-PERP	+0.0100%	1h	118.98	+0.025%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.03	+0.067%	$717.8M	$424.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.92	−0.028%	$179.4M	$173.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.96	+0.008%	$12.4M	$113.8M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	118.95	−0.004%	$972.3M	$3.75B	100x
Bybit SOLUSDT	+0.0100%	8h	118.92	−0.022%	$822.5M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.88	−0.059%	$368.8M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.92	−0.025%	$233K	$865K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.95	+0.003%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	−0.058%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.92	−0.025%	$467.5M	$1.07B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.90	−0.045%	$496.2M	$448.9M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.89	−0.050%	—	$372.1M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.98	+0.025%	$24.3M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.86	−0.079%	$28.3M	$126.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	−0.034%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.87	−0.068%	$48.7M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	−0.126%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.95	0.000%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.93	−0.015%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.97	+0.014%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.93	−0.020%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.96	+0.008%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.92	−0.025%	$46.4M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.89	−0.052%	$8.6M	$37.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0112%	1h	118.81	−0.121%	$123K	$606K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.98	+0.023%	—	$218.8M	500x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.01	+0.054%	$8.1M	$414.3M	50x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.042%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.95	+0.003%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.94	−0.005%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.72	−0.193%	$51.6M	$89.3M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.98	+0.027%	$36.1M	$90.2M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.97	+0.014%	$3.5M	—	200x	as long as short