Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.045%

Price spread now: dYdX against Katana Perps−0.015%7-day average +0.030% · you buy dearer than you sell

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

Long on Katana Perps Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.043%−$4 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.015%, 7d avg +0.030%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and dYdX is 0.046% cheaper against Katana Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	117.05	0.0100	pay 0.0100% / 8h	7h 15m	$48K	$860K	20x
Short	dYdX SOL-USD	117.03	0.0071	get 0.0009% / 1h	15m 02s	$8.2M	$21.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$6.06
Price spread: −0.015% → +0.030%: −$4.59
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$24.46
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; dYdX: live order book, 4 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 dYdX live order book, 4 min ago	3.85 bp	8.8 bp −$9	8.8 bp −$88	11.6 bp −$1,155	50.4 bp −$25.2K

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	117.11	+0.056%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	117.15	+0.085%	$32.6M	$99.6M	100x	as long as short
Bybit SOLUSDT	−0.0046%	8h	117.09	+0.034%	$730.6M	$1.32B	100x	as long as short
Vest SOL-PERP	−0.0002%	1h	117.02	−0.025%	—	$515K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.10	+0.041%	$39K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.11	+0.049%	$1.3M	$18.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.05	+0.001%	$100K	$3.0M	8.3x	as long as short
Bitget SOLUSDT	+0.0022%	8h	117.15	+0.088%	$483.1M	$426.4M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.15	+0.085%	$7.9M	$386.7M	50x	as long as short
Aster SOLUSDT	+0.0052%	8h	117.09	+0.034%	$177.7M	$165.3M	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0066%	8h	117.11	+0.052%	$1.0M	$5.5M	100x	as long as short
dYdX SOL-USDshort	+0.0071%	1h	117.03	−0.015%	$8.2M	$21.7M	20x
Phemex SOLUSDT	+0.0080%	8h	117.07	+0.017%	$45.5M	$102.9M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0095%	1h	117.18	+0.108%	$26.4M	$20.3M	50x	as long as short
Lighter SOL	+0.0096%	1h	117.11	+0.051%	$13.2M	$56.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.11	+0.050%	$2.2M	$14.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.11	+0.053%	$353K	$240K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	117.11	+0.050%	$1.0M	$554K	50x	as long as short
SoDEX SOL-USD	+0.0098%	1h	117.10	+0.043%	$6.1M	$11.1M	20x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	117.05	long leg	$48K	$860K	20x
Nado SOL-PERP	+0.0100%	1h	116.99	−0.050%	$5.3M	$40.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.22	+0.145%	$711.2M	$392.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	117.14	+0.078%	$15.7M	$127.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.10	+0.043%	$966.0M	$3.65B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.15	+0.085%	$366.3M	$1.65B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.07	+0.017%	$219K	$825K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.06	+0.007%	$932K	$8.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.93	−0.104%	$126.5M	$25.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.11	+0.051%	$849.2M	$622.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.10	+0.043%	$417.9M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.10	+0.045%	$131.6M	$232.3M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.09	+0.032%	—	$361.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.09	+0.034%	$23.2M	$36.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.15	+0.084%	$25.1M	$102.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.93	−0.102%	$93.9M	$407.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.83	−0.189%	$47.8M	$27.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.00	−0.038%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.93	−0.103%	$1.3M	$10.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.00	−0.043%	$322K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.07	+0.020%	$284K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.11	+0.051%	$27K	$34K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.09	+0.038%	$190K	$1.6M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.01	−0.036%	$226.5M	$47.4M	75x	as long as short
Extended SOL-USD	+0.0104%	1h	117.06	+0.012%	$8.3M	$35.1M	50x	as long as short
01 Exchange SOLUSD	+0.0104%	1h	117.06	+0.009%	$101K	$180K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	117.04	−0.011%	—	$216.2M	500x	as long as short
Phoenix SOL	+0.0124%	1h	117.06	+0.009%	$6.5M	$13.4M	25x	as long as short
Hibachi SOL/USDT-P	+0.0128%	1h	117.01	−0.038%	$104K	$656K	20x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.607%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.98	−0.056%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.02	−0.026%	$52.1M	$60.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	117.11	+0.055%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0415%	1h	116.84	−0.180%	$25K	$52K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	117.07	+0.016%	$2.2M	$4.7M	20x	as long as short