Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.001%

Price spread now: Katana Perps against Kraken Futures−0.080%7-day average −0.001% · you buy dearer than you sell

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

Long on Kraken Futures Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.049%−$5 on $10k

Price spread, last 3 days (all we have)+0.318%+$32 · spread now −0.080%, 7d avg −0.001%

Together, before fees+0.268%+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Katana Perps is 0.079% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOLUSD	119.51	0.0223	pay 0.0028% / 1h	26m 08s	$36.0M	$89.4M	100x
Short	Katana Perps SOL-USD	119.41	0.0100	get 0.0100% / 8h	2h 26m	$45K	$783K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$25.8
Price spread: −0.080% → −0.001%: −$7.9
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$47.5
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 3 min ago; Katana Perps: 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 Kraken Futures live order book, 3 min ago	1.26 bp	7.0 bp −$7	11.0 bp −$110	16.0 bp −$1,599	29.4 bp −$14.7K
Sell Katana Perps no order-book sample	—	—	—	—	—

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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.297%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.27	−0.196%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	119.34	−0.139%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0054%	1h	119.43	−0.067%	$2.0M	$3.2M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.51	+0.001%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.48	−0.025%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.38	−0.105%	$182K	$4.0M	8.3x	as long as short
dYdX SOL-USD	0.0000%	1h	119.49	−0.017%	$4.9M	$26.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0011%	1h	119.17	−0.285%	$24K	$47K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0024%	1h	119.54	+0.029%	$26.8M	$27.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0056%	1h	119.19	−0.260%	$122K	$600K	20x	as long as short
HTX SOL-USDT	+0.0060%	8h	119.41	−0.083%	$232.7M	$43.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0060%	8h	119.52	+0.016%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.46	−0.038%	$105K	$152K	20x	as long as short
ApeX Omni SOLUSDT	+0.0074%	1h	119.04	−0.389%	$1.5M	$6.2M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.47	−0.033%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0086%	8h	119.46	−0.038%	$872.5M	$682.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.48	−0.025%	$13.6M	$54.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.47	−0.033%	$2.1M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.46	−0.034%	$355K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.34	−0.137%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	119.41	−0.080%	$45K	$783K	20x
Nado SOL-PERP	+0.0100%	1h	119.36	−0.122%	$6.4M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.57	+0.052%	$721.3M	$415.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.48	−0.018%	$180.2M	$174.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.49	−0.013%	$12.4M	$114.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.47	−0.028%	$976.0M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.51	+0.003%	$827.4M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.46	−0.038%	$371.9M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.38	−0.105%	$234K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.42	−0.068%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.47	−0.030%	$472.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.48	−0.020%	$143.1M	$196.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.47	−0.028%	$499.5M	$449.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.49	−0.013%	$24.5M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.07	−0.365%	$27.5M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.01	−0.412%	$95.6M	$398.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.06	−0.369%	$48.7M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.14	−0.306%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.42	−0.071%	$370K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.47	−0.033%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.51	+0.005%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.35	−0.133%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.48	−0.021%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.45	−0.046%	$46.7M	$100.3M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.98	−0.439%	$133.4M	$11.1M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.46	−0.038%	$8.7M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.52	+0.014%	$8.1M	$416.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.43	−0.059%	—	$217.7M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.04	−0.389%	$6.6M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.40	−0.086%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0179%	1h	119.41	−0.082%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.33	−0.147%	$51.7M	$86.1M	125x	as long as short
Kraken Futures PF_SOLUSDlong	+0.0223%	1h	119.51	long leg	$36.0M	$89.4M	100x
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0174%	1h	119.50	−0.008%	$3.6M	—	200x	as long as short