Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:46 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.044%

Price spread now: Perpl against Kraken Futures+0.062%7-day average −0.027% · you sell dearer than you buy

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

Long on Kraken Futures Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.364%−$36 on $10k

Price spread, last 3 days (all we have)−0.057%−$6 · spread now +0.062%, 7d avg −0.027%

Together, before fees−0.421%+ Points / potential airdropPerpl: Active · farm board−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Perpl is 0.089% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of −0.027%): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOLUSD	119.42	0.0105	pay 0.0013% / 1h	57m 52s	$32.7M	$96.9M	100x
Short	Perpl SOL	119.50	0	get 0.0000% / 43m	10m 52s	$177K	$4.0M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$22
Price spread: +0.062% → −0.027%: $8.89
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$36.91
Costs to cover: 0.238%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 1 min ago; Perpl: 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, 1 min ago	0.42 bp	7.1 bp −$7	10.5 bp −$105	14.7 bp −$1,465	28.0 bp −$14.0K
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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
Hotstuff SOL-PERP	−0.0080%	1h	119.47	+0.038%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.44	+0.016%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.36	−0.049%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.46	+0.032%	$115K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.48	+0.054%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.53	+0.092%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	119.50	+0.062%	$177K	$4.0M	8.3x
Phoenix SOL	+0.0054%	1h	119.28	−0.118%	$6.6M	$13.4M	25x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.54	+0.100%	$104K	$157K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0069%	1h	119.48	+0.048%	$26.7M	$26.1M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0071%	8h	119.45	+0.027%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.47	+0.043%	—	$371.4M	—	as long as short
HTX SOL-USDT	+0.0082%	8h	119.46	+0.034%	$232.5M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0086%	8h	119.46	+0.033%	$870.0M	$671.6M	100x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	119.44	+0.016%	$118K	$608K	20x	as long as short
Aftermath Perps SOLUSD	+0.0089%	1h	119.31	−0.090%	$24K	$47K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.46	+0.033%	$13.6M	$55.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.42	0.000%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.42	−0.002%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.45	+0.023%	$8.3M	$417.8M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.49	+0.055%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.51	+0.075%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.50	+0.062%	$6.1M	$41.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.55	+0.108%	$721.4M	$410.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.49	+0.055%	$178.9M	$175.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.53	+0.094%	$12.3M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.45	+0.027%	$983.9M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.48	+0.051%	$830.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.44	+0.016%	$372.8M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.38	−0.034%	$233K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.55	+0.108%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.35	−0.059%	$133.8M	$7.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.47	+0.041%	$452.0M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.48	+0.046%	$140.0M	$203.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.44	+0.018%	$497.4M	$455.9M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.46	+0.033%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	−0.135%	$27.3M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.22	−0.170%	$95.8M	$401.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.37	−0.039%	$48.8M	$31.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.17	−0.206%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.44	+0.016%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.51	+0.075%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.44	+0.019%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.45	+0.027%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.48	+0.053%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.42	0.000%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.48	+0.050%	$46.7M	$102.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.45	+0.024%	$8.7M	$36.2M	50x	as long as short
Kraken Futures PF_SOLUSDlong	+0.0105%	1h	119.42	long leg	$32.7M	$96.9M	100x
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.52	+0.084%	—	$224.3M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0072%	1h	119.45	+0.026%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.02	−0.335%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.49	+0.057%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.43	+0.008%	$52.1M	$84.2M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.55	+0.111%	$1.7M	$5.3M	20x	as long as short