Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0260%/8h= −28.5% APRpaid last 24h −0.052%

Price spread now: Katana Perps against Aftermath Perps−0.026%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Katana Perps is 0.026% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps SOLUSD	117.55	0.0360	pay 0.0045% / 1h	58m 58s	$25K	$51K	20x
Short	Katana Perps SOL-USD	117.52	0.0100	get 0.0100% / 8h	5h 58m	$67K	$840K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Aftermath Perps. 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 Aftermath PerpsbpFee Katana PerpsbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$54.59
Price spread: −0.026% → 0.000%: −$2.57
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$69.96
Costs to cover: 0.128%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Aftermath Perps and 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 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	117.59	+0.038%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.47	−0.069%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.55	−0.003%	$31.5M	$98.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.54	−0.006%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.57	+0.017%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.61	+0.048%	$1.4M	$20.1M	3.1x	as long as short
Derive SOL-PERP	+0.0017%	1h	117.48	−0.059%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0037%	8h	117.44	−0.093%	$228.2M	$45.4M	75x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.58	+0.025%	$100K	$162K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0052%	1h	117.59	+0.033%	$26.4M	$25.4M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0064%	1h	117.41	−0.116%	$100K	$690K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.58	+0.030%	$8.0M	$403.9M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.51	−0.033%	—	$10.6M	—	as long as short
Gate SOL_USDT	+0.0083%	8h	117.54	−0.009%	$849.1M	$640.8M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.56	+0.006%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.55	+0.001%	$13.0M	$58.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.54	−0.010%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.56	+0.005%	$344K	$225K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.56	+0.009%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	117.52	−0.026%	$67K	$840K	20x
Nado SOL-PERP	+0.0100%	1h	117.48	−0.055%	$5.8M	$40.2M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.57	+0.017%	$176.4M	$177.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.60	+0.043%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.55	+0.003%	$969.1M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.57	+0.018%	$820.7M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.57	+0.017%	$366.6M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.37	−0.153%	$238K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.59	+0.035%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.58	+0.025%	$423.2M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.57	+0.014%	$130.6M	$211.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.57	+0.018%	$487.3M	$435.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.55	0.000%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.45	−0.081%	$24.3M	$120.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.44	−0.097%	$94.3M	$405.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.43	−0.106%	$48.1M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.44	−0.094%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.41	−0.119%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.53	−0.017%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.53	−0.019%	$201K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.53	−0.017%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.54	−0.009%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.55	0.000%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.57	+0.017%	$45.8M	$100.4M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.46	−0.081%	$134.5M	$14.2M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.53	−0.017%	$6.5M	$13.2M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.55	+0.002%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.39	−0.134%	—	$221.7M	500x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.60	+0.043%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0178%	1h	117.65	+0.085%	$717.8M	$395.3M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.52	−0.025%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	−0.085%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.54	−0.006%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSDlong	+0.0360%	1h	117.55	long leg	$25K	$51K	20x
Perpl SOL	+0.0447%	43m	117.57	+0.019%	$128K	$3.8M	8.3x	as long as short