SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0052%/8h= −5.7% APRnext payment −$0.06 per $10,000 · paid last 24h −0.031%

Price spread now: Kraken Futures against Phoenix+0.007%49s7-day average −0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.251% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.222%−$22 on $10k

Price spread, last 3 days (all we have)−0.130%−$13 · spread now +0.007%, 7d avg −0.084%

Together, before fees−0.352%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.091% dearer against Phoenix than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.084%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.8 days. At the pace of the last 7 days (−0.222% in total) that is about 2.9 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SOL	117.52	0.0101	pay 0.0013% / 1h	5m 28s	$6.5M	$13.5M	25x
Short	Kraken Futures PF_SOLUSD	117.53	0.0049	get 0.0006% / 1h	5m 28s	$31.5M	$98.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phoenix. 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 PhoenixbpFee Kraken FuturesbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$10.92
Price spread: +0.007% → −0.084%: $9.11
Slippage, 4 orders: −$8.06
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$26.88
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from Phoenix: live order book, 4 min ago; Kraken Futures: live order book, 4 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 Phoenix live order book, 4 min ago	0.85 bp	4.6 bp −$5	5.7 bp −$57	15.2 bp −$1,524	doesn't fit
Sell Kraken Futures live order book, 4 min ago	1.70 bp	8.0 bp −$8	9.7 bp −$97	12.5 bp −$1,250	26.2 bp −$13.1K

SOL on 54 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	117.56	+0.037%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0060%	1h	117.45	−0.057%	—	$607K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.52	+0.003%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.47	−0.046%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.58	+0.049%	$1.4M	$20.4M	3.1x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.49	−0.029%	$1.9M	$4.9M	20x	as long as short
Derive SOL-PERP	+0.0021%	1h	117.48	−0.036%	$2.0M	$2.8M	13x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0034%	1h	117.57	+0.045%	$26.4M	$25.4M	50x	as long as short
HTX SOL-USDT	+0.0041%	8h	117.44	−0.071%	$228.2M	$45.4M	75x	as long as short
Hibachi SOL/USDT-P	+0.0048%	1h	117.57	+0.043%	$100K	$690K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSDshort	+0.0049%	1h	117.53	+0.007%	$31.5M	$98.6M	100x
Gate SOL_USDT	+0.0066%	8h	117.48	−0.034%	$847.4M	$667.1M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.55	+0.022%	$8.0M	$405.7M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.47	−0.047%	—	$10.6M	—	as long as short
ApeX Omni SOLUSDT	+0.0083%	1h	117.49	−0.024%	$1.5M	$6.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.56	+0.037%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.47	−0.043%	$13.0M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.46	−0.051%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.49	−0.026%	$100K	$161K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.55	+0.025%	$344K	$256K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.52	0.000%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.44	−0.068%	$67K	$846K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.43	−0.077%	$5.8M	$40.3M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.46	−0.050%	$176.3M	$178.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.49	−0.022%	$14.5M	$128.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.46	−0.050%	$968.1M	$3.76B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.48	−0.034%	$820.0M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.53	+0.009%	$366.4M	$1.65B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.42	−0.085%	$238K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.47	−0.039%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.47	−0.043%	$423.3M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.47	−0.044%	$130.4M	$211.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.50	−0.014%	$487.0M	$436.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.49	−0.026%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.52	+0.004%	$24.3M	$120.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.48	−0.030%	$94.4M	$404.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.36	−0.138%	$48.1M	$28.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.54	+0.017%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.50	−0.017%	$354K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.55	+0.029%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.54	+0.014%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.54	+0.020%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.53	+0.009%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.54	+0.017%	$45.8M	$101.0M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.46	−0.055%	$134.5M	$14.2M	20x	as long as short
Phoenix SOLlong	+0.0101%	1h	117.52	long leg	$6.5M	$13.5M	25x
Extended SOL-USD	+0.0104%	1h	117.44	−0.071%	$8.1M	$36.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.55	+0.023%	—	$223.5M	500x	as long as short
Hyperliquid SOL	+0.0120%	1h	117.63	+0.094%	$717.4M	$394.9M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.50	−0.016%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.45	−0.060%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.52	+0.001%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0351%	1h	117.58	+0.054%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.57	+0.043%	$128K	$3.8M	8.3x	as long as short