Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.004%

Price spread now: HTX against Kraken Futures−0.064%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.064%, 7d avg −0.007%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.057% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of −0.007%). If the spread goes back, that is −$6 on $10k: about 14 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.087%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.087% in total (about -4.5% 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	Kraken Futures PF_SOLUSD	116.41	−0.0240	get 0.0030% / 1h	54m 37s	$31.6M	$103.1M	100x
Short	HTX SOL-USDT	116.33	0.0100	get 0.0100% / 8h	2h 54m	$225.4M	$48.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Kraken Futures. 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 Kraken FuturesbpFee HTXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $71.38
Price spread: −0.064% → −0.007%: −$5.75
Slippage, 4 orders: −$7.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $36.53
Costs to cover: 0.291%
Break-even: 3.4 days

Slippage from Kraken Futures: live order book, 5 min ago; HTX: live order book, 5 min ago.

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 Kraken Futures live order book, 5 min ago	1.29 bp	7.1 bp −$7	7.8 bp −$78	11.6 bp −$1,155	28.0 bp −$14.0K
Sell HTX live order book, 5 min ago	0.00 bp	6.6 bp −$7	11.5 bp −$115	28.5 bp −$2,855	49.3 bp −$24.7K

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	−0.0240%	1h	116.38	−0.018%	$105K	$705K	20x	as long as short
Kraken Futures PF_SOLUSDlong	−0.0240%	1h	116.41	long leg	$31.6M	$103.1M	100x
Vest SOL-PERP	−0.0122%	1h	116.29	−0.101%	—	$601K	20x	as long as short
Bybit SOLUSDT	−0.0105%	8h	116.26	−0.128%	$744.5M	$1.41B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.38	−0.024%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0025%	1h	116.30	−0.093%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.33	−0.066%	$42K	—	150x	as long as short
01 Exchange SOLUSD	0.0000%	1h	116.32	−0.074%	$99K	$175K	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.41	+0.007%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0005%	1h	116.35	−0.048%	$4.4M	$24.2M	20x	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	+0.0042%	1h	116.29	−0.100%	$147K	$1.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.42	+0.009%	$7.8M	$405.4M	50x	as long as short
Bitget SOLUSDT	+0.0080%	8h	116.30	−0.095%	$480.4M	$449.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	116.39	−0.016%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.37	−0.034%	$13.0M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.36	−0.038%	$2.2M	$16.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.38	−0.025%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.25	−0.134%	$60K	$899K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.37	−0.035%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.34	−0.057%	$5.3M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.45	+0.038%	$698.8M	$393.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.33	−0.066%	$174.3M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.37	−0.033%	$15.8M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.31	−0.081%	$968.8M	$3.84B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.32	−0.074%	$366.8M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.33	−0.066%	$211K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.35	−0.047%	$917K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.27	−0.121%	$131.6M	$15.2M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.36	−0.040%	$849.5M	$657.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.34	−0.057%	$362.6M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.34	−0.060%	$123.9M	$227.3M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.32	−0.076%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.42	+0.012%	$23.0M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.34	−0.053%	$25.0M	$114.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.30	−0.091%	$93.4M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.44	+0.027%	$47.7M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.45	+0.035%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.34	−0.057%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.30	−0.091%	$320K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.35	−0.049%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.31	−0.081%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.39	−0.014%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDTshort	+0.0100%	8h	116.33	−0.064%	$225.4M	$48.5M	75x
Phemex SOLUSDT	+0.0100%	8h	116.39	−0.014%	$45.3M	$103.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.27	−0.119%	$8.1M	$38.4M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0107%	1h	116.44	+0.029%	$26.2M	$22.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.37	−0.031%	—	$236.5M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.45	+0.038%	$6.5M	$13.7M	25x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.50	+0.081%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.28	−0.108%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.40	−0.005%	$52.1M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0169%	1h	116.32	−0.077%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.33	−0.063%	$112K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.36	−0.041%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0569%	1h	116.38	−0.019%	$25K	$52K	20x	as long as short