Funding you earn now, next payment 04:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.023%
Price spread now: Phoenix against Katana Perps+0.146%50s7-day average +0.171% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.148%+$15 on $10k
+Price spread, last 7 days+0.029%+$3 · spread now +0.146%, 7d avg +0.171%
=Funding pays, the price is against you. Phoenix is 0.025% cheaper against Katana Perps than usual: you would sell low and buy high (spread +0.146% now, against its 7-day average of +0.171%). If the spread goes back, that is −$3 on $10k: about 39 hours of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.148% in total) that is about 16 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps SOL-USD | 116.43 | 0.0099 | pay 0.0099% / 8h | 3h 12m | $61K | $896K | 20x |
| Short | Phoenix SOL | 116.60 | 0.0151 | get 0.0019% / 1h | 12m 06s | $6.5M | $13.8M | 25x |
Katana Perps SOL-USD
Phoenix SOLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $10.81
- Price spread: +0.146% → +0.171%
- −$2.52
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$2.51
- Costs to cover
- 0.108%
- Break-even
- 8.6 days
Slippage unknown: Katana Perps: no order-book sample; Phoenix: 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 Phoenix live order book, 2 min ago | 0.86 bp | 4.6 bp −$5 | 5.7 bp −$57 | 12.3 bp −$1,230 | 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 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 | 116.50 | +0.064% | $105K | $703K | 20x | as long as short |
| Kraken Futures PF_SOLUSD | −0.0193% | 1h | 116.45 | +0.018% | $31.4M | $102.4M | 100x | as long as short |
| Vest SOL-PERP | −0.0107% | 1h | 116.38 | −0.041% | — | $601K | 20x | as long as short |
| Hotstuff SOL-PERP | −0.0080% | 1h | 116.47 | +0.034% | $1K | $8K | 25x | as long as short |
| Bybit SOLUSDT | −0.0059% | 8h | 116.36 | −0.058% | $750.5M | $1.40B | 100x | as long as short |
| Derive SOL-PERP | −0.0030% | 1h | 116.35 | −0.065% | $1.9M | $2.9M | 13x | as long as short |
| gTrade (Gains Network) SOL/USD | L −0.0001% / S +0.0004% | 1h | 116.42 | −0.009% | $42K | — | 150x | as long as short |
| Kalshi KXSOLPERP | 0.0000% | 8h | 116.50 | +0.058% | $1.4M | $19.1M | 3.1x | as long as short |
| dYdX SOL-USD | +0.0011% | 1h | 116.49 | +0.051% | $4.4M | $24.2M | 20x | as long as short |
| Coinbase International SOL-PERP-INTX | +0.0048% | 1h | 116.47 | +0.031% | $7.6M | $404.9M | 50x | as long as short |
Hibachi SOL/USDT-P
Kraken Futures PF_SOLUSD
Vest SOL-PERP
Hotstuff SOL-PERP
Bybit SOLUSDT
Derive SOL-PERP
gTrade (Gains Network) SOL/USD
Kalshi KXSOLPERP
dYdX SOL-USD
Coinbase International SOL-PERP-INTXShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bullet SOL-USD | +0.0060% | 1h | 116.40 | −0.028% | $146K | $1.6M | 20x | as long as short |
| 01 Exchange SOLUSD | +0.0064% | 1h | 116.44 | +0.009% | $99K | $175K | 20x | as long as short |
| Bitget SOLUSDT | +0.0091% | 8h | 116.42 | −0.009% | $480.5M | $447.3M | 100x | as long as short |
| Orderly PERP_SOL_USDC | +0.0094% | 8h | 116.44 | +0.010% | $1.0M | $5.9M | 100x | as long as short |
| Lighter SOL | +0.0096% | 1h | 116.44 | +0.008% | $13.1M | $60.5M | 25x | as long as short |
| Lighter RH SOL | +0.0096% | 1h | 116.43 | −0.002% | $2.2M | $16.8M | 25x | as long as short |
| Aevo SOL-PERP | +0.0096% | 1h | 116.44 | +0.011% | $350K | $247K | 20x | as long as short |
| Katana Perps SOL-USDlong | +0.0099% | 8h | 116.43 | long leg | $61K | $896K | 20x | |
| Paradex SOL-USD-PERP | +0.0100% | 8h | 116.48 | +0.040% | $1.0M | $551K | 50x | as long as short |
| Nado SOL-PERP | +0.0100% | 1h | 116.44 | +0.010% | $5.4M | $40.4M | 40x | as long as short |
| Hyperliquid SOL | +0.0100% | 1h | 116.54 | +0.094% | $702.1M | $395.8M | 20x | as long as short |
| Aster SOLUSDT | +0.0100% | 8h | 116.43 | −0.004% | $174.4M | $183.4M | 100x | as long as short |
| Pacifica SOL | +0.0100% | 1h | 116.50 | +0.063% | $15.7M | $130.1M | 20x | as long as short |
| Binance SOLUSDT | +0.0100% | 8h | 116.45 | +0.020% | $971.3M | $3.83B | 100x | as long as short |
| OKX SOL-USDT-SWAP | +0.0100% | 8h | 116.47 | +0.034% | $367.3M | $1.70B | 100x | as long as short |
| Ondo Perps SOL-USD.P | +0.0100% | 1h | 116.44 | +0.009% | $227K | $846K | 10x | as long as short |
| Arcus SOL-USD | +0.0100% | 1h | 116.48 | +0.046% | $919K | $8.8M | 20x | as long as short |
| Bulk SOL-USD | +0.0100% | 1h | 116.46 | +0.026% | $132.4M | $15.1M | 20x | as long as short |
| Gate SOL_USDT | +0.0100% | 8h | 116.41 | −0.017% | $855.2M | $668.2M | 100x | as long as short |
| MEXC SOL_USDT | +0.0100% | 8h | 116.44 | +0.009% | $367.8M | $1.08B | 300x | as long as short |
| KuCoin SOLUSDTM | +0.0100% | 8h | 116.42 | −0.012% | $128.7M | $224.2M | 75x | as long as short |
| BingX SOL-USDT | +0.0100% | 8h | 116.41 | −0.014% | — | $364.9M | — | as long as short |
| Backpack SOL_USDC_PERP | +0.0100% | 1h | 116.45 | +0.017% | $23.0M | $40.2M | 50x | as long as short |
| Variational Omni SOL | +0.0100% | 8h | 116.48 | +0.047% | $24.4M | $113.5M | — | as long as short |
| edgeX SOLUSDC | +0.0100% | 4h | 116.58 | +0.129% | $93.6M | $401.9M | 75x | as long as short |
| GRVT SOL_USDT_Perp | +0.0100% | 8h | 116.51 | +0.067% | $47.7M | $30.8M | 20x | as long as short |
| ApeX Omni SOLUSDT | +0.0100% | 1h | 116.71 | +0.240% | $1.3M | $6.7M | 50x | as long as short |
| StandX SOL-USD | +0.0100% | 1h | 116.50 | +0.060% | $1.3M | $12.5M | 30x | as long as short |
| Polymarket Perps SOL-USD | +0.0100% | 1h | 116.40 | −0.026% | $319K | $2.7M | 20x | as long as short |
| Bluefin SOL-PERP | +0.0100% | 1h | 116.43 | −0.002% | $25K | $31K | 25x | as long as short |
| SunX SOL-USDT | +0.0100% | 8h | 116.42 | −0.004% | $189K | $1.8M | 30x | as long as short |
| SoDEX SOL-USD | +0.0100% | 1h | 116.44 | +0.009% | $6.1M | $10.8M | 20x | as long as short |
| HTX SOL-USDT | +0.0100% | 8h | 116.40 | −0.029% | $225.6M | $48.3M | 75x | as long as short |
| Phemex SOLUSDT | +0.0100% | 8h | 116.42 | −0.009% | $45.3M | $103.4M | 50x | as long as short |
| Extended SOL-USD | +0.0104% | 1h | 116.39 | −0.037% | $8.2M | $37.8M | 50x | as long as short |
| Injective SOL/USDC PERP | +0.0107% | 1h | 116.70 | +0.232% | $4K | $2K | 12x | as long as short |
| Deribit SOL_USDC-PERPETUAL | +0.0110% | 1h | 116.49 | +0.051% | $26.3M | $23.3M | 50x | as long as short |
| Jupiter Perps SOL-PERP | L +0.0120% / S +0.0048% | 1h | 116.47 | +0.036% | — | $235.7M | 500x | as long as short |
| Phoenix SOLshort | +0.0151% | 1h | 116.60 | +0.146% | $6.5M | $13.8M | 25x | |
| Reya SOLRUSDPERP | +0.0192% | 1h | 116.39 | −0.038% | $1.1M | $542K | 25x | as long as short |
| BloFin SOL-USDT | +0.0220% | 8h | 116.50 | +0.060% | $51.8M | $67.2M | 125x | as long as short |
| GMX SOL/USD [SOL-USDC] | L +0.0235% / S −0.0178% | 1h | 116.41 | −0.015% | $3.6M | — | 200x | as long as short |
| Perpl SOL | +0.0335% | 43m | 116.48 | +0.041% | $131K | $3.7M | 8.3x | as long as short |
| RISEx SOL/USDC | +0.0561% | 1h | 116.52 | +0.080% | $1.9M | $4.8M | 20x | as long as short |
| Aftermath Perps SOLUSD | +0.0576% | 1h | 116.57 | +0.117% | $25K | $52K | 20x | as long as short |
Bullet SOL-USD
01 Exchange SOLUSD
Bitget SOLUSDT
Orderly PERP_SOL_USDC
Lighter SOL
Lighter RH SOL
Aevo SOL-PERP
Paradex SOL-USD-PERP
Nado SOL-PERP
Hyperliquid SOL
Aster SOLUSDT
Pacifica SOL
Binance SOLUSDT
OKX SOL-USDT-SWAP
Ondo Perps SOL-USD.P
Arcus SOL-USD
Bulk SOL-USD
Gate SOL_USDT
MEXC SOL_USDT
KuCoin SOLUSDTM
BingX SOL-USDT
Backpack SOL_USDC_PERP
Variational Omni SOL
edgeX SOLUSDC
GRVT SOL_USDT_Perp
ApeX Omni SOLUSDT
StandX SOL-USD
Polymarket Perps SOL-USD
Bluefin SOL-PERP
SunX SOL-USDT
SoDEX SOL-USD
HTX SOL-USDT
Phemex SOLUSDT
Extended SOL-USD
Injective SOL/USDC PERP
Deribit SOL_USDC-PERPETUAL
Jupiter Perps SOL-PERP
Reya SOLRUSDPERP
BloFin SOL-USDT
GMX SOL/USD [SOL-USDC]
Perpl SOL
RISEx SOL/USDC
Aftermath Perps SOLUSD