Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0193%/8h= +21.1% APRpaid last 24h −0.024%

Price spread now: Kalshi against Kraken Futures+0.049%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on Kraken Futures Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now +0.049%, 7d avg −0.004%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kalshi is 0.052% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.004%. Mind the row above: over the last 7 days funding on this pair cost −0.106%, 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 -0.106% in total (about -5.5% 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	116.96	−0.0193	get 0.0024% / 1h	50m 58s	$31.2M	$100.7M	100x
Short	Kalshi KXSOLPERP	117.02	0	get 0.0000% / 8h	7h 50m	$1.4M	$19.1M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.049%Rate

Funding earned: $40.43
Price spread: +0.049% → −0.004%: $5.25
Slippage, 4 orders: −$11.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $14.13
Costs to cover: 0.315%
Break-even: 4.6 days

Slippage from Kraken Futures: live order book, 3 min ago; Kalshi: live order book, 3 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, 3 min ago	2.14 bp	7.7 bp −$8	8.3 bp −$83	13.8 bp −$1,380	23.8 bp −$11.9K
Sell Kalshi live order book, 3 min ago	1.54 bp	7.2 bp −$7	11.9 bp −$119	19.4 bp −$1,942	doesn't fit

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
Kraken Futures PF_SOLUSDlong	−0.0193%	1h	116.96	long leg	$31.2M	$100.7M	100x
Hibachi SOL/USDT-P	−0.0160%	1h	117.03	+0.061%	$103K	$698K	20x	as long as short
Vest SOL-PERP	−0.0093%	1h	116.97	+0.008%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.98	+0.014%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.03	+0.060%	$54K	—	150x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	117.02	+0.049%	$1.4M	$19.1M	3.1x
dYdX SOL-USD	+0.0005%	1h	117.00	+0.034%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0030%	1h	116.93	−0.028%	$1.9M	$2.8M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	117.00	+0.031%	$7.4M	$405.4M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0093%	8h	117.00	+0.032%	$1.0M	$5.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SOL	+0.0096%	1h	116.96	−0.002%	$13.1M	$59.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.97	+0.008%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	116.98	+0.017%	$99K	$174K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.98	+0.019%	$348K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.89	−0.060%	$50K	$882K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.03	+0.060%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.92	−0.032%	$5.5M	$40.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.04	+0.068%	$706.7M	$393.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.99	+0.027%	$175.2M	$182.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.99	+0.023%	$15.8M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.97	+0.008%	$976.1M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.90	−0.051%	$774.3M	$1.36B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.98	+0.017%	$368.6M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.97	+0.008%	$230K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.98	+0.018%	$927K	$8.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.96	0.000%	$851.6M	$656.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.96	0.000%	$367.8M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.95	−0.012%	$129.3M	$222.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.95	−0.010%	$480.8M	$442.3M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.94	−0.015%	—	$365.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.96	0.000%	$23.2M	$39.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.95	−0.005%	$24.6M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.88	−0.067%	$93.8M	$398.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.05	+0.077%	$47.8M	$30.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.99	+0.029%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.99	+0.025%	$1.3M	$12.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.99	+0.025%	$323K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.03	+0.058%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.98	+0.021%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.95	−0.010%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.95	−0.009%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.00	+0.034%	$226.8M	$47.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.97	+0.008%	$45.8M	$102.6M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.90	−0.052%	$134.0M	$22.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.93	−0.023%	$8.3M	$37.5M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.72	−0.205%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	117.02	+0.051%	—	$231.4M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0134%	1h	117.04	+0.070%	$26.4M	$23.2M	50x	as long as short
Phoenix SOL	+0.0151%	1h	117.05	+0.077%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	117.00	+0.033%	$1.1M	$541K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.00	+0.034%	$52.0M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	117.03	+0.056%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	117.03	+0.062%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0536%	1h	116.93	−0.022%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	117.03	+0.063%	$1.9M	$4.8M	20x	as long as short