Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Bullet against Katana Perps+0.014%7-day average +0.066% · you sell dearer than you buy

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

Long on Katana Perps Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days+0.017%+$2 · spread now +0.014%, 7d avg +0.066%

Together, before fees+0.006%+$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: Bullet is 0.051% 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 +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	118.00	0.0100	pay 0.0100% / 8h	6h 26m	$63K	$853K	20x
Short	Bullet SOL-USD	118.02	0.0100	get 0.0013% / 1h	26m 49s	$201K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0.04
Price spread: +0.014% → +0.066%: −$5.14
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$16.9
Costs to cover: 0.118%
Break-even: 2689.0 days

Slippage unknown: Katana Perps: no order-book sample; Bullet: live order book, 2 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 Bullet live order book, 2 min ago	0.51 bp	6.6 bp −$7	9.4 bp −$94	doesn't fit	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 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	118.06	+0.052%	$923	$8K	25x	as long as short
Vest SOL-PERP	−0.0069%	1h	117.96	−0.035%	—	$607K	20x	as long as short
Derive SOL-PERP	−0.0049%	1h	117.89	−0.092%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	117.98	−0.020%	$92K	$682K	20x	as long as short
ApeX Omni SOLUSDT	−0.0003%	1h	117.89	−0.089%	$1.5M	$6.0M	50x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.99	−0.009%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.96	−0.034%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.06	+0.053%	$1.4M	$21.1M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.06	+0.048%	$129K	$3.9M	8.3x	as long as short
RISEx SOL/USDC	+0.0018%	1h	118.02	+0.015%	$2.0M	$4.7M	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0038%	8h	117.94	−0.049%	$229.2M	$45.5M	75x	as long as short
Gate SOL_USDT	+0.0038%	8h	117.95	−0.042%	$855.1M	$661.3M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.94	−0.052%	$31.6M	$98.8M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0070%	1h	118.02	+0.013%	$26.5M	$25.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.97	−0.022%	$8.0M	$410.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.94	−0.047%	—	$369.2M	—	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	118.00	−0.002%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.01	+0.008%	$13.1M	$59.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.96	−0.031%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	118.06	+0.051%	$103K	$160K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.97	−0.023%	$346K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.11	+0.089%	$1.0M	$519K	50x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	118.00	long leg	$63K	$853K	20x
Nado SOL-PERP	+0.0100%	1h	118.05	+0.038%	$5.7M	$41.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.98	−0.016%	$177.2M	$179.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.06	+0.049%	$14.4M	$128.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.04	+0.034%	$972.9M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.09	+0.078%	$823.2M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.08	+0.068%	$366.5M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.94	−0.051%	$238K	$894K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.03	+0.029%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.55	−0.379%	$134.7M	$14.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.05	+0.042%	$425.2M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.97	−0.022%	$131.6M	$210.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.95	−0.039%	$488.5M	$440.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.96	−0.034%	$23.8M	$37.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.72	−0.240%	$24.4M	$125.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.87	−0.107%	$94.7M	$403.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.78	−0.183%	$48.2M	$29.0M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.87	−0.110%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.02	+0.017%	$355K	$2.4M	20x	as long as short
Bullet SOL-USDshort	+0.0100%	1h	118.02	+0.014%	$201K	$1.7M	20x
Bluefin SOL-PERP	+0.0100%	1h	117.97	−0.021%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.01	+0.005%	$192K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.96	−0.034%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.97	−0.025%	$46.0M	$101.6M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.98	−0.017%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.89	−0.094%	$8.2M	$35.9M	50x	as long as short
Hyperliquid SOL	+0.0108%	1h	118.08	+0.068%	$721.5M	$402.6M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	118.05	+0.042%	—	$226.9M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	118.01	+0.010%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	−0.110%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	118.00	−0.003%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0321%	1h	117.86	−0.119%	$25K	$51K	20x	as long as short