Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:46 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.044%

Price spread now: Perpl against Katana Perps−0.010%7-day average +0.021% · you buy dearer than you sell

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

Long on Katana Perps Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.201%−$20 on $10k

Price spread, last 7 days+0.018%+$2 · spread now −0.010%, 7d avg +0.021%

Together, before fees−0.183%+ Points / potential airdropPerpl: Active · farm board−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Perpl is 0.031% cheaper against Katana Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

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	1h 12m	$46K	$798K	20x
Short	Perpl SOL	118.94	0	get 0.0000% / 43m	25m 17s	$177K	$4.0M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$20.96
Price spread: −0.010% → +0.021%: −$3.1
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$41.65
Costs to cover: 0.176%
Break-even: never at this rate

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

Katana Perps and Perpl: 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
Bluefin SOL-PERP	−0.0287%	1h	118.91	−0.035%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0107%	1h	118.83	−0.105%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.93	−0.016%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0066%	1h	118.91	−0.035%	—	$722K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.92	−0.028%	$112K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	118.95	−0.003%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.98	+0.023%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	118.94	−0.010%	$177K	$4.0M	8.3x
Phoenix SOL	+0.0054%	1h	119.28	+0.277%	$6.5M	$13.6M	25x	as long as short
Hibachi SOL/USDT-P	+0.0056%	1h	119.00	+0.040%	$119K	$612K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0069%	8h	118.91	−0.032%	$1.0M	$5.9M	100x	as long as short
Aftermath Perps SOLUSD	+0.0069%	1h	119.16	+0.180%	$24K	$47K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.97	+0.017%	$104K	$155K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0078%	1h	118.96	+0.012%	$26.6M	$27.7M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.93	−0.015%	—	$374.1M	—	as long as short
HTX SOL-USDT	+0.0080%	8h	118.89	−0.054%	$231.4M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0090%	8h	118.91	−0.034%	$868.7M	$687.4M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.90	−0.044%	$13.6M	$56.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.88	−0.059%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.90	−0.045%	$352K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.91	−0.033%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	118.95	long leg	$46K	$798K	20x
Nado SOL-PERP	+0.0100%	1h	118.92	−0.022%	$6.1M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.02	+0.059%	$717.0M	$417.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.89	−0.054%	$178.0M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.98	+0.025%	$12.3M	$118.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.89	−0.048%	$979.8M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.89	−0.049%	$826.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.81	−0.118%	$371.7M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.98	+0.025%	$233K	$883K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.98	+0.028%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.28	+0.279%	$133.9M	$7.8M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.87	−0.067%	$453.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.91	−0.035%	$139.8M	$201.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.89	−0.051%	$494.4M	$456.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.00	+0.042%	$24.1M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.22	+0.227%	$27.3M	$128.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.23	+0.238%	$95.8M	$401.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.17	+0.185%	$48.8M	$31.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.19	+0.203%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.98	+0.025%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.93	−0.017%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.91	−0.032%	$200K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.90	−0.044%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.90	−0.042%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.92	−0.025%	$46.5M	$102.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.87	−0.071%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.92	−0.023%	$8.2M	$415.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.95	+0.001%	—	$224.5M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	118.91	−0.031%	$32.6M	$97.0M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0170% / S −0.0072%	1h	118.91	−0.031%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	118.92	−0.025%	$1.1M	$552K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	118.98	+0.026%	$1.7M	$5.8M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.361%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.98	+0.025%	$52.0M	$82.7M	125x	as long as short