Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.029%

Price spread now: Katana Perps against GMX−0.024%7-day average −0.044% · you buy dearer than you sell

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

Long on GMX Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.116%−$12 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now −0.024%, 7d avg −0.044%

Together, before fees−0.089%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Katana Perps is 0.020% dearer against GMX than usual: you sell high and buy low (spread −0.024% now, against its 7-day average of −0.044%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SOL/USD [SOL-USDC]	118.72	L +0.0167% / S −0.0067%	pay 0.0021% / 1h	19m 19s	$3.7M	—	200x
Short	Katana Perps SOL-USD	118.69	0.0100	get 0.0100% / 8h	19m 19s	$45K	$806K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against GMX. 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 GMXbpFee Katana PerpsbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$14.2
Price spread: −0.024% → −0.044%: $2.03
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$27.97
Costs to cover: 0.158%
Break-even: never at this rate

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

GMX 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 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
Derive SOL-PERP	−0.0089%	1h	118.63	−0.077%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.64	−0.066%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.66	−0.050%	—	$723K	20x	as long as short
ApeX Omni SOLUSDT	−0.0032%	1h	118.43	−0.243%	$1.5M	$6.2M	50x	as long as short
dYdX SOL-USD	−0.0013%	1h	118.63	−0.075%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.73	+0.008%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.69	−0.021%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.72	+0.003%	$175K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0019%	1h	118.74	+0.015%	$26.6M	$25.8M	50x	as long as short
Gate SOL_USDT	+0.0075%	8h	118.72	+0.001%	$865.6M	$683.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0075%	8h	118.72	0.000%	$1.0M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.73	+0.010%	$103K	$157K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.72	+0.005%	—	$373.0M	—	as long as short
HTX SOL-USDT	+0.0080%	8h	118.67	−0.045%	$231.0M	$45.2M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.64	−0.066%	$13.4M	$56.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.64	−0.062%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.69	−0.023%	$120K	$631K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.69	−0.025%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.71	−0.008%	$8.1M	$416.4M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.66	−0.045%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	118.69	−0.024%	$45K	$806K	20x
Nado SOL-PERP	+0.0100%	1h	118.72	+0.006%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.85	+0.111%	$718.8M	$410.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.71	−0.006%	$178.7M	$178.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.69	−0.024%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.71	−0.004%	$977.9M	$3.84B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.73	+0.011%	$823.5M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.69	−0.024%	$369.8M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.57	−0.125%	$228K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.75	+0.027%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	+0.007%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.74	+0.018%	$425.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.74	+0.019%	$137.6M	$205.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.68	−0.034%	$492.3M	$461.0M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.67	−0.041%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.63	−0.075%	$27.1M	$129.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.40	−0.267%	$95.1M	$402.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.54	−0.150%	$48.6M	$31.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.66	−0.049%	$1.3M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.72	+0.001%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.70	−0.014%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.70	−0.011%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.63	−0.079%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.69	−0.024%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.70	−0.016%	$46.4M	$102.9M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.70	−0.016%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.66	−0.051%	$8.6M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.70	−0.020%	$32.4M	$97.3M	100x	as long as short
Aftermath Perps SOLUSD	+0.0111%	1h	118.71	−0.008%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.66	−0.049%	—	$226.5M	500x	as long as short
GMX SOL/USD [SOL-USDC]long	L +0.0167% / S −0.0067%	1h	118.72	long leg	$3.7M	—	200x
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.161%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.72	+0.001%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.60	−0.100%	$52.1M	$80.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.72	0.000%	$1.8M	$5.3M	20x	as long as short