Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0079%/8h= +8.7% APRpaid last 24h +0.006%

Price spread now: GMX against Katana Perps+0.062%7-day average +0.041% · you sell dearer than you buy

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

Long on Katana Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.062%, 7d avg +0.041%

Together, before fees−0.009%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and GMX is 0.021% dearer against Katana Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.27	0.0099	pay 0.0099% / 8h	3h 07m	$61K	$896K	20x
Short	GMX SOL/USD [SOL-USDC]	116.34	L +0.0235% / S −0.0179%	get 0.0022% / 1h	7m 51s	$3.6M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.062%Rate

Funding earned: $16.69
Price spread: +0.062% → +0.041%: $2.08
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee GMX: 6 bp × 2 orders: −$12
Net: $2.98
Costs to cover: 0.158%
Break-even: 5.8 days

Slippage unknown: Katana Perps: no order-book sample; GMX: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—

Katana Perps and GMX: 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
Hibachi SOL/USDT-P	−0.0216%	1h	116.27	−0.002%	$105K	$704K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.37	+0.085%	$31.4M	$102.5M	100x	as long as short
Vest SOL-PERP	−0.0108%	1h	116.26	−0.005%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.29	+0.015%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0072%	8h	116.35	+0.069%	$748.2M	$1.40B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.30	+0.022%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.36	+0.077%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.32	+0.041%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0010%	1h	116.26	−0.009%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.37	+0.085%	$7.6M	$404.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0063%	1h	116.32	+0.046%	$146K	$1.6M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.31	+0.034%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0088%	8h	116.40	+0.109%	$480.4M	$447.9M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.38	+0.092%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.44	+0.146%	$13.1M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.42	+0.127%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.35	+0.070%	$350K	$247K	20x	as long as short
Katana Perps SOL-USDlong	+0.0099%	8h	116.27	long leg	$61K	$896K	20x
Paradex SOL-USD-PERP	+0.0100%	8h	116.31	+0.035%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.30	+0.026%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.52	+0.215%	$701.3M	$395.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.40	+0.113%	$174.4M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.32	+0.043%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.43	+0.138%	$970.6M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.43	+0.138%	$367.5M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.26	−0.009%	$224K	$853K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.33	+0.056%	$919K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.46	+0.164%	$132.4M	$15.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.42	+0.129%	$854.6M	$669.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.44	+0.146%	$367.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.42	+0.126%	$122.2M	$226.0M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.38	+0.092%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.39	+0.103%	$22.9M	$39.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.28	+0.012%	$25.0M	$114.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.48	+0.179%	$93.5M	$400.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.47	+0.171%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.54	+0.229%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.40	+0.112%	$1.3M	$12.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.29	+0.017%	$319K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.33	+0.052%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.35	+0.065%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.36	+0.077%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.29	+0.018%	$225.4M	$48.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.37	+0.086%	$45.3M	$103.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.38	+0.092%	$8.3M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.370%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.30	+0.024%	—	$235.8M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.284%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.28	+0.012%	$1.1M	$542K	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0212%	1h	116.42	+0.130%	$26.2M	$23.0M	50x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.26	−0.009%	$51.9M	$67.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]short	L +0.0235% / S −0.0179%	1h	116.34	+0.062%	$3.6M	—	200x
Perpl SOL	+0.0335%	43m	116.34	+0.064%	$122K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.37	+0.089%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0573%	1h	116.46	+0.162%	$25K	$52K	20x	as long as short