Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.054%

Price spread now: Hotstuff against Katana Perps+0.036%7-day average — · you sell dearer than you buy

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

Long on Katana Perps Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.036% dearer against Katana Perps than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	117.52	0.0100	pay 0.0100% / 8h	6h 53m	$45K	$815K	20x
Short	Hotstuff SOL-PERP	117.56	−0.0080	pay 0.0010% / 1h	53m 57s	$919	$8K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$37.76
Price spread: +0.036% → 0.000%: $3.57
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$42.98
Costs to cover: 0.088%
Break-even: never at this rate

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

Katana Perps and Hotstuff: 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
ApeX Omni SOLUSDT	−0.1080%	1h	118.05	+0.449%	$1.5M	$6.1M	50x	as long as short
HTX SOL-USDT	−0.0081%	8h	117.66	+0.123%	$228.8M	$44.8M	75x	as long as short
Hotstuff SOL-PERPshort	−0.0080%	1h	117.56	+0.036%	$919	$8K	25x
Hibachi SOL/USDT-P	−0.0080%	1h	117.55	+0.023%	$94K	$697K	20x	as long as short
Vest SOL-PERP	−0.0079%	1h	117.53	+0.008%	—	$610K	20x	as long as short
Derive SOL-PERP	−0.0050%	1h	117.58	+0.054%	$2.0M	$2.7M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.57	+0.043%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.69	+0.147%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.67	+0.128%	$1.6M	$21.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.64	+0.106%	$131K	$4.0M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SOL_USDT	+0.0005%	8h	117.71	+0.162%	$845.5M	$648.2M	100x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.53	+0.005%	$1.8M	$4.6M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.77	+0.211%	$31.5M	$98.6M	100x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.54	+0.017%	$102K	$162K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0066%	1h	117.77	+0.211%	$26.4M	$25.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.75	+0.192%	$7.9M	$409.5M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.74	+0.186%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	117.67	+0.128%	$1.1M	$5.9M	100x	as long as short
Lighter RH SOL	+0.0088%	1h	117.70	+0.154%	$2.2M	$16.6M	25x	as long as short
Lighter SOL	+0.0096%	1h	117.72	+0.168%	$13.1M	$57.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.68	+0.133%	$345K	$262K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.58	+0.049%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	117.52	long leg	$45K	$815K	20x
Nado SOL-PERP	+0.0100%	1h	117.58	+0.055%	$5.7M	$41.4M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.70	+0.153%	$177.6M	$180.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.69	+0.143%	$12.8M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.75	+0.192%	$974.7M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.77	+0.213%	$819.1M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.76	+0.204%	$365.4M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.56	+0.034%	$255K	$899K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.59	+0.063%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.15	+0.536%	$136.0M	$13.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.79	+0.230%	$421.9M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.73	+0.179%	$133.3M	$207.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.77	+0.211%	$488.9M	$445.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.74	+0.187%	$23.8M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.61	+0.074%	$24.4M	$130.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.09	+0.485%	$94.9M	$399.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.85	+0.278%	$48.3M	$29.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.58	+0.051%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.56	+0.034%	$352K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.56	+0.036%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.59	+0.063%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.60	+0.071%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.72	+0.170%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.74	+0.187%	$45.9M	$100.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.76	+0.202%	$8.3M	$35.7M	50x	as long as short
Hyperliquid SOL	+0.0105%	1h	117.87	+0.298%	$716.1M	$400.5M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.65	+0.109%	—	$228.5M	500x	as long as short
Phoenix SOL	+0.0114%	1h	117.72	+0.170%	$6.5M	$13.5M	25x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	117.52	−0.001%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.63	+0.094%	$52.2M	$73.9M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	119.50	+1.685%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	117.57	+0.041%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0280%	1h	118.10	+0.497%	$25K	$51K	20x	as long as short