Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.029%

Price spread now: Kalshi against SoDEX+0.052%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on SoDEX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.081%−$8 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.052%, 7d avg +0.006%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.046% dearer against SoDEX than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of +0.006%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SOL-USD	116.98	0.0100	pay 0.0013% / 1h	11m 56s	$6.2M	$10.9M	20x
Short	Kalshi KXSOLPERP	117.04	0	get 0.0000% / 8h	6h 11m	$1.5M	$19.4M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now +0.052%Rate

Funding earned: −$21
Price spread: +0.052% → +0.006%: $4.64
Slippage, 4 orders: −$7.02
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$41.38
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from SoDEX: live order book, 2 min ago; Kalshi: live order book, 2 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 SoDEX live order book, 2 min ago	0.43 bp	4.4 bp −$4	5.4 bp −$54	21.5 bp −$2,145	doesn't fit
Sell Kalshi live order book, 2 min ago	1.50 bp	7.5 bp −$7	12.6 bp −$126	21.7 bp −$2,170	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_SOLUSD	−0.0239%	1h	116.99	+0.007%	$32.0M	$102.8M	100x	as long as short
Hibachi SOL/USDT-P	−0.0112%	1h	116.81	−0.144%	$103K	$696K	20x	as long as short
Bybit SOLUSDT	−0.0105%	8h	116.94	−0.032%	$742.1M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.75	−0.197%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0043%	1h	116.95	−0.024%	—	$625K	20x	as long as short
BingX SOL-USDT	−0.0024%	8h	116.97	−0.010%	—	$370.0M	—	as long as short
Derive SOL-PERP	−0.0003%	1h	116.93	−0.045%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.01	+0.026%	$42K	—	150x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	117.04	+0.052%	$1.5M	$19.4M	3.1x
Perpl SOL	0.0000%	43m	117.02	+0.033%	$114K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0009%	1h	117.01	+0.026%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	117.01	+0.026%	$100K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	117.01	+0.027%	$7.8M	$407.3M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0052%	1h	117.04	+0.051%	$26.4M	$22.0M	50x	as long as short
Bitget SOLUSDT	+0.0063%	8h	116.94	−0.033%	$482.0M	$461.0M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	117.00	+0.013%	$1.0M	$6.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.99	+0.007%	$13.0M	$61.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.98	−0.002%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.99	+0.010%	$352K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.94	−0.034%	$64K	$912K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.99	+0.012%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.97	−0.004%	$5.3M	$40.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.07	+0.077%	$700.5M	$407.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.98	−0.001%	$176.3M	$177.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.04	+0.052%	$15.8M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.96	−0.018%	$974.8M	$3.90B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.97	−0.009%	$371.1M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.97	−0.009%	$217K	$881K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.02	+0.034%	$912K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.95	−0.026%	$125.5M	$23.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.97	−0.009%	$845.0M	$674.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.97	−0.009%	$367.8M	$1.09B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.98	−0.002%	$126.9M	$230.6M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.99	+0.009%	$23.2M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.46	−0.448%	$25.1M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.54	−0.374%	$93.6M	$409.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.62	−0.308%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.61	−0.315%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.71	−0.231%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.98	0.000%	$319K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.98	+0.003%	$167K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.00	+0.018%	$25K	$34K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.99	+0.006%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USDlong	+0.0100%	1h	116.98	long leg	$6.2M	$10.9M	20x
HTX SOL-USDT	+0.0100%	8h	116.98	+0.001%	$226.6M	$50.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.97	−0.009%	$45.5M	$105.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.93	−0.045%	$8.0M	$39.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	117.00	+0.017%	—	$237.6M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−1.128%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.74	−0.205%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	116.97	−0.012%	$1.1M	$543K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.94	−0.034%	$51.9M	$68.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	117.00	+0.015%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0534%	1h	116.59	−0.332%	$25K	$55K	20x	as long as short
RISEx SOL/USDC	+0.0547%	1h	117.06	+0.066%	$2.1M	$4.9M	20x	as long as short