Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0459%/8h= −50.2% APRpaid last 24h −0.046%

Price spread now: Kraken Futures against BloFin−0.042%57s7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$280.276% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.042%, 7d avg +0.003%

Together, before fees−0.072%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.046% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.003%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.121% in total (about -6.3% 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	BloFin SOL-USDT	117.04	0.0220	pay 0.0220% / 8h	2h 02m	$52.1M	$68.7M	125x
Short	Kraken Futures PF_SOLUSD	116.99	−0.0239	pay 0.0030% / 1h	2m 08s	$33.0M	$104.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$96.33
Price spread: −0.042% → +0.003%: −$4.59
Slippage, 4 orders: −$5.59
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$128.51
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Kraken Futures: 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 BloFin live order book, 7 min ago	0.43 bp	6.4 bp −$6	6.6 bp −$66	9.2 bp −$917	16.4 bp −$8,199
Sell Kraken Futures live order book, 2 min ago	1.28 bp	8.2 bp −$8	11.1 bp −$111	15.1 bp −$1,515	24.9 bp −$12.5K

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	−0.0239%	1h	116.99	−0.042%	$33.0M	$104.1M	100x
Bybit SOLUSDT	−0.0104%	8h	116.92	−0.098%	$741.9M	$1.44B	100x	as long as short
BingX SOL-USDC	−0.0104%	8h	116.94	−0.090%	—	$10.7M	—	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.11	+0.060%	$1K	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0080%	1h	117.02	−0.018%	$102K	$689K	20x	as long as short
Vest SOL-PERP	−0.0033%	1h	116.97	−0.059%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0010%	1h	116.91	−0.114%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.98	−0.049%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.09	+0.044%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.99	−0.040%	$110K	$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	+0.0008%	1h	117.03	−0.011%	$4.3M	$23.8M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.99	−0.043%	$101K	$179K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	117.01	−0.028%	$7.9M	$407.8M	50x	as long as short
Bitget SOLUSDT	+0.0060%	8h	116.95	−0.079%	$482.1M	$462.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.97	−0.056%	$1.0M	$6.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.97	−0.061%	$13.1M	$61.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.95	−0.074%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.97	−0.059%	$352K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.95	−0.077%	$62K	$911K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	116.99	−0.041%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.95	−0.075%	$5.5M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.09	+0.043%	$701.7M	$408.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.95	−0.080%	$176.3M	$176.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.03	−0.006%	$15.8M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.95	−0.077%	$972.8M	$3.90B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.96	−0.068%	$372.3M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.99	−0.043%	$218K	$883K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.00	−0.034%	$908K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.05	+0.007%	$126.2M	$23.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.97	−0.060%	$846.5M	$677.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.97	−0.060%	$368.1M	$1.09B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.97	−0.064%	$129.0M	$231.5M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.97	−0.060%	$23.1M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.05	+0.012%	$24.8M	$113.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.07	+0.025%	$94.0M	$411.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.02	−0.017%	$47.9M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.13	+0.073%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.10	+0.051%	$1.3M	$12.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.97	−0.060%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.98	−0.048%	$236K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.99	−0.041%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.96	−0.072%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.96	−0.068%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.96	−0.065%	$226.5M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.96	−0.068%	$45.5M	$105.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.91	−0.108%	$8.1M	$39.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	117.07	+0.026%	—	$238.4M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0171%	1h	117.05	+0.007%	$26.5M	$22.1M	50x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	117.09	+0.043%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	117.18	+0.120%	$6.6M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.93	−0.093%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	117.04	long leg	$52.1M	$68.7M	125x
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.98	−0.049%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0492%	1h	117.04	−0.002%	$25K	$56K	20x	as long as short
RISEx SOL/USDC	+0.0547%	1h	117.05	+0.007%	$2.1M	$4.9M	20x	as long as short