Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0351%/8h= +38.5% APRpaid last 24h +0.040%

Price spread now: RISEx against Katana Perps+0.106%7-day average +0.042% · you sell dearer than you buy

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

Long on Katana Perps Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.105%+$11 on $10k

Price spread, last 7 days−0.095%−$10 · spread now +0.106%, 7d avg +0.042%

Together, before fees+0.010%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and RISEx is 0.064% dearer against Katana Perps than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.042%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.105% in total (about 10.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.44	0.0099	pay 0.0099% / 8h	1h 30m	$64K	$906K	20x
Short	RISEx SOL/USDC	116.56	0.0451	get 0.0056% / 1h	30m 30s	$2.1M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.106%Rate

Funding earned: $73.76
Price spread: +0.106% → +0.042%: $6.41
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee RISEx: 3 bp × 2 orders: −$6
Net: $70.37
Costs to cover: 0.098%
Break-even: 0.3 days

Slippage unknown: Katana Perps: no order-book sample; RISEx: live order book, 3 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 RISEx live order book, 3 min ago	0.04 bp	3.0 bp −$3	6.8 bp −$68	doesn't fit	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	−0.0152%	1h	116.52	+0.064%	$98K	$689K	20x	as long as short
Bybit SOLUSDT	−0.0115%	8h	116.50	+0.052%	$740.8M	$1.44B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.48	+0.031%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.53	+0.074%	$32.2M	$106.3M	100x	as long as short
Derive SOL-PERP	−0.0053%	1h	116.33	−0.096%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0024%	1h	116.49	+0.047%	—	$628K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.51	+0.063%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.51	+0.059%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.50	+0.050%	$110K	$3.6M	8.3x	as long as short
dYdX SOL-USD	+0.0021%	1h	116.49	+0.042%	$4.3M	$23.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0032%	1h	116.46	+0.021%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.54	+0.086%	$100K	$177K	20x	as long as short
Bitget SOLUSDT	+0.0045%	8h	116.50	+0.049%	$479.8M	$460.5M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.54	+0.083%	$8.0M	$404.0M	50x	as long as short
Aster SOLUSDT	+0.0084%	8h	116.52	+0.066%	$175.9M	$172.0M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	116.54	+0.083%	$1.0M	$6.0M	100x	as long as short
Paradex SOL-USD-PERP	+0.0095%	8h	116.52	+0.071%	$1.0M	$552K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.46	+0.014%	$13.0M	$60.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.51	+0.061%	$351K	$252K	20x	as long as short
Katana Perps SOL-USDlong	+0.0099%	8h	116.44	long leg	$64K	$906K	20x
Nado SOL-PERP	+0.0100%	1h	116.45	+0.009%	$5.5M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.59	+0.129%	$697.8M	$409.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.51	+0.059%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.53	+0.077%	$967.3M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.53	+0.077%	$368.3M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.49	+0.043%	$216K	$880K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.50	+0.052%	$900K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	+0.009%	$124.6M	$26.6M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.48	+0.034%	$844.0M	$668.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.52	+0.069%	$363.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.51	+0.060%	$129.8M	$232.6M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.46	+0.016%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.50	+0.052%	$23.0M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.46	+0.021%	$24.8M	$111.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.42	−0.021%	$93.5M	$410.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.48	+0.034%	$47.7M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.54	+0.082%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.48	+0.034%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.51	+0.060%	$312K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.54	+0.087%	$248K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.53	+0.074%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.48	+0.038%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.50	+0.052%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.48	+0.035%	$225.5M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.48	+0.034%	$45.3M	$105.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0103%	1h	116.57	+0.110%	$26.4M	$21.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.44	+0.003%	$8.0M	$39.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.51	+0.057%	—	$237.0M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.50	+0.052%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.47	+0.026%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.49	+0.039%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.49	+0.043%	$52.2M	$67.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.52	+0.066%	$3.5M	—	200x	as long as short
RISEx SOL/USDCshort	+0.0451%	1h	116.56	+0.106%	$2.1M	$4.9M	20x
Aftermath Perps SOLUSD	+0.0506%	1h	116.55	+0.096%	$25K	$56K	20x	as long as short