Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0293%/8h= −32.1% APRpaid last 24h −0.006%

Price spread now: Kraken Futures against Binance−0.052%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.270% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now −0.052%, 7d avg −0.009%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Kraken Futures is 0.042% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.009%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.118%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.118% in total (about 6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SOLUSDT	116.51	0.0100	pay 0.0100% / 8h	3h 24m	$972.0M	$3.82B	100x
Short	Kraken Futures PF_SOLUSD	116.45	−0.0193	pay 0.0024% / 1h	24m 01s	$30.9M	$101.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$61.6
Price spread: −0.052% → −0.009%: −$4.24
Slippage, 4 orders: −$6.98
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$92.83
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Kraken Futures: live order book, 5 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 Binance live order book, 5 min ago	0.43 bp	5.4 bp −$5	6.0 bp −$60	9.4 bp −$945	18.5 bp −$9,234
Sell Kraken Futures live order book, 5 min ago	1.28 bp	9.8 bp −$10	12.3 bp −$123	15.1 bp −$1,507	24.4 bp −$12.2K

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_SOLUSDshort	−0.0193%	1h	116.45	−0.052%	$30.9M	$101.2M	100x
Hibachi SOL/USDT-P	−0.0184%	1h	116.57	+0.047%	$105K	$703K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.42	−0.080%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.48	−0.026%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0015%	8h	116.42	−0.080%	$755.7M	$1.38B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	−0.028%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.49	−0.021%	$1.4M	$19.0M	3.1x	as long as short
dYdX SOL-USD	+0.0015%	1h	116.51	−0.005%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0032%	1h	116.40	−0.094%	$1.9M	$2.9M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.45	−0.053%	$7.6M	$404.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0064%	1h	116.49	−0.020%	$99K	$174K	20x	as long as short
Bullet SOL-USD	+0.0079%	1h	116.45	−0.056%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.48	−0.028%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.46	−0.048%	$13.1M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.43	−0.071%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.47	−0.040%	$350K	$247K	20x	as long as short
Bitget SOLUSDT	+0.0098%	8h	116.45	−0.051%	$480.7M	$445.2M	100x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.45	−0.054%	$61K	$895K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.46	−0.049%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.42	−0.077%	$5.4M	$40.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.62	+0.092%	$703.1M	$394.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.50	−0.011%	$174.5M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.48	−0.027%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDTlong	+0.0100%	8h	116.51	long leg	$972.0M	$3.82B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.49	−0.020%	$366.8M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.47	−0.037%	$229K	$836K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.52	+0.005%	$921K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.75	+0.204%	$133.5M	$19.9M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.45	−0.054%	$851.0M	$664.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.46	−0.046%	$365.2M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.46	−0.042%	$129.0M	$223.4M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.47	−0.041%	—	$365.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.50	−0.011%	$23.0M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.40	−0.094%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.61	+0.086%	$93.6M	$400.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.68	+0.143%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.64	+0.109%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.58	+0.057%	$1.3M	$12.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.44	−0.063%	$321K	$2.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.45	−0.052%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.46	−0.045%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.44	−0.063%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.41	−0.088%	$225.6M	$48.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.49	−0.020%	$45.5M	$103.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.42	−0.076%	$8.3M	$37.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.160%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.45	−0.051%	—	$231.6M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.64	+0.109%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0167%	1h	116.50	−0.008%	$26.3M	$23.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.43	−0.073%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.46	−0.046%	$51.8M	$67.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.47	−0.038%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.51	−0.005%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0558%	1h	116.67	+0.130%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.56	+0.037%	$1.9M	$4.8M	20x	as long as short