Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0124%/8h= +13.5% APRpaid last 24h +0.001%

Price spread now: Kraken Futures against SunX−0.025%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$440.435% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.005%$0 · spread now −0.025%, 7d avg +0.015%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.040% cheaper against SunX than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.015%). If the spread goes back, that is −$4 on $10k: about 26 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.022% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SOL-USDT	118.97	0.0100	pay 0.0100% / 8h	2h 36m	$193K	$1.9M	30x
Short	Kraken Futures PF_SOLUSD	118.94	0.0224	get 0.0028% / 1h	36m 04s	$36.0M	$89.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.025%Rate

Funding earned: $25.98
Price spread: −0.025% → +0.015%: −$3.97
Slippage, 4 orders: −$25.51
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$21.5
Costs to cover: 0.435%
Break-even: 12.8 days

Slippage from SunX: live order book, 10 min ago; Kraken Futures: live order book, 3 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 SunX live order book, 10 min ago	1.72 bp	7.6 bp −$8	20.6 bp −$206	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	0.84 bp	9.5 bp −$9	11.2 bp −$112	15.2 bp −$1,523	29.9 bp −$14.9K

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	118.89	−0.068%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.86	−0.091%	$2.0M	$3.2M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.72	−0.208%	$842	$8K	25x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.95	−0.020%	—	$724K	20x	as long as short
Aftermath Perps SOLUSD	−0.0022%	1h	118.90	−0.058%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.96	−0.010%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.02	+0.042%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.97	−0.002%	$180K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	118.99	+0.018%	$26.7M	$27.6M	50x	as long as short
dYdX SOL-USD	0.0000%	1h	119.00	+0.021%	$4.9M	$26.9M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0042%	1h	118.74	−0.194%	$1.5M	$6.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0060%	8h	118.96	−0.009%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0067%	8h	118.89	−0.070%	$231.6M	$43.6M	75x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.01	+0.033%	$104K	$152K	20x	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	119.16	+0.157%	$123K	$600K	20x	as long as short
BingX SOL-USDT	+0.0082%	8h	118.94	−0.028%	—	$371.8M	—	as long as short
Gate SOL_USDT	+0.0083%	8h	118.93	−0.034%	$862.5M	$679.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.95	−0.019%	$13.5M	$53.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.93	−0.037%	$2.0M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.95	−0.014%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.91	−0.054%	$1.0M	$524K	50x	as long as short
KuCoin SOLUSDTM	+0.0099%	8h	118.93	−0.033%	$143.1M	$196.4M	75x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.99	+0.016%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.98	+0.008%	$5.5M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.03	+0.050%	$717.6M	$413.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.96	−0.006%	$179.6M	$174.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.00	+0.023%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.94	−0.026%	$971.5M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.97	+0.002%	$822.4M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.94	−0.026%	$370.2M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.14	+0.142%	$234K	$864K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.00	+0.025%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.94	−0.026%	$467.9M	$1.08B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.93	−0.035%	$496.4M	$448.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.96	−0.009%	$24.4M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.76	−0.181%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.71	−0.220%	$95.3M	$397.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.74	−0.192%	$48.6M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.11	+0.117%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.97	−0.001%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.96	−0.006%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.95	−0.018%	$37K	$15K	25x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	118.97	long leg	$193K	$1.9M	30x
SoDEX SOL-USD	+0.0100%	1h	118.93	−0.034%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.98	+0.008%	$46.4M	$99.8M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	−0.220%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	118.91	−0.052%	$8.6M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.98	+0.009%	$8.1M	$414.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.98	+0.007%	—	$216.9M	500x	as long as short
Phoenix SOL	+0.0154%	1h	118.79	−0.152%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.01	+0.032%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.97	0.000%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.12	+0.125%	$51.8M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSDshort	+0.0224%	1h	118.94	−0.025%	$36.0M	$89.4M	100x
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.98	+0.004%	$3.6M	—	200x	as long as short