Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Katana Perps against Phemex−0.125%7-day average −0.009% · you buy dearer than you sell

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

Long on Phemex Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 3 days (all we have)+0.269%+$27 · spread now −0.125%, 7d avg −0.009%

Together, before fees+0.274%+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Katana Perps is 0.116% cheaper against Phemex than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	119.62	0.0100	pay 0.0100% / 8h	1h 37m	$46.7M	$101.8M	50x
Short	Katana Perps SOL-USD	119.47	0.0100	get 0.0100% / 8h	1h 37m	$45K	$790K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Phemex. 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 PhemexbpFee Katana PerpsbpOrdersPrice spread, now −0.125%Rate

Funding earned: −$0.04
Price spread: −0.125% → −0.009%: −$11.6
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$27.44
Costs to cover: 0.158%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 7 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 Phemex live order book, 7 min ago	0.42 bp	6.8 bp −$7	8.7 bp −$87	16.4 bp −$1,645	doesn't fit
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
Bluefin SOL-PERP	−0.0330%	1h	119.67	+0.042%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0095%	1h	119.62	0.000%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.53	−0.078%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0062%	1h	119.43	−0.157%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0002%	1h	119.53	−0.073%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.71	+0.074%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.64	+0.017%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.47	−0.125%	$182K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0007%	1h	119.64	+0.014%	$26.8M	$27.6M	50x	as long as short
Hibachi SOL/USDT-P	+0.0016%	1h	119.72	+0.080%	$120K	$611K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SOL	+0.0054%	1h	119.84	+0.184%	$6.6M	$13.6M	25x	as long as short
Aftermath Perps SOLUSD	+0.0065%	1h	119.58	−0.035%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0067%	8h	119.72	+0.083%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0078%	8h	119.60	−0.016%	$232.9M	$44.6M	75x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.51	−0.094%	—	$374.1M	—	as long as short
Gate SOL_USDT	+0.0083%	8h	119.47	−0.125%	$873.4M	$680.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.49	−0.109%	$13.6M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.47	−0.123%	$2.1M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	119.48	−0.117%	$104K	$153K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.59	−0.025%	$354K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.45	−0.143%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	119.47	−0.125%	$45K	$790K	20x
Nado SOL-PERP	+0.0100%	1h	119.47	−0.121%	$6.2M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.52	−0.084%	$720.1M	$415.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.49	−0.108%	$178.9M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.53	−0.079%	$12.4M	$117.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.44	−0.151%	$988.0M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.44	−0.148%	$826.1M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.41	−0.176%	$372.2M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.74	+0.100%	$234K	$889K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.55	−0.062%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.49	−0.109%	$454.1M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.52	−0.084%	$141.2M	$200.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.42	−0.170%	$496.1M	$454.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.60	−0.017%	$24.2M	$38.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.76	+0.118%	$27.8M	$127.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.62	−0.003%	$96.1M	$399.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.61	−0.004%	$49.0M	$31.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.56	−0.050%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.71	+0.075%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.42	−0.167%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.44	−0.150%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.63	+0.010%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.60	−0.017%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	119.62	long leg	$46.7M	$101.8M	50x
Bulk SOL-USD	+0.0100%	1h	119.75	+0.107%	$134.3M	$8.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.45	−0.138%	$8.7M	$36.2M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.63	+0.004%	$8.4M	$415.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.63	+0.012%	—	$222.2M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.57	−0.041%	$32.7M	$95.5M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0086%	1h	119.71	+0.072%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.41	−0.180%	$1.1M	$557K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.52	−0.082%	$1.7M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.410%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.62	0.000%	$52.1M	$82.9M	125x	as long as short