Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.054%

Price spread now: Katana Perps against Hotstuff−0.218%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Katana Perps is 0.218% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.218% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 4.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff SOL-PERP	116.06	−0.0080	get 0.0010% / 1h	33m 07s	$1K	$8K	25x
Short	Katana Perps SOL-USD	115.81	0.0099	get 0.0099% / 8h	2h 33m	$64K	$907K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Hotstuff. 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 HotstuffbpFee Katana PerpsbpOrdersPrice spread, now −0.218%Rate

Funding earned: $37.65
Price spread: −0.218% → 0.000%: −$21.8
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $7.05
Costs to cover: 0.088%
Break-even: 5.7 days

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

Hotstuff 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
Kraken Futures PF_SOLUSD	−0.0241%	1h	115.81	−0.215%	$31.7M	$103.8M	100x	as long as short
Hibachi SOL/USDT-P	−0.0200%	1h	115.86	−0.177%	$104K	$693K	20x	as long as short
Derive SOL-PERP	−0.0125%	1h	115.70	−0.310%	$1.9M	$2.9M	13x	as long as short
Bybit SOLUSDT	−0.0116%	8h	115.82	−0.209%	$740.7M	$1.42B	100x	as long as short
BingX SOL-USDT	−0.0115%	8h	115.82	−0.208%	—	$368.3M	—	as long as short
Vest SOL-PERP	−0.0103%	1h	115.80	−0.224%	—	$625K	20x	as long as short
Hotstuff SOL-PERPlong	−0.0080%	1h	116.06	long leg	$1K	$8K	25x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.79	−0.235%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.83	−0.202%	$1.5M	$19.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.81	−0.215%	$113K	$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
01 Exchange SOLUSD	+0.0008%	1h	115.80	−0.227%	$99K	$176K	20x	as long as short
dYdX SOL-USD	+0.0015%	1h	115.80	−0.227%	$4.3M	$24.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.81	−0.221%	$7.8M	$403.7M	50x	as long as short
Bitget SOLUSDT	+0.0069%	8h	115.81	−0.218%	$479.5M	$455.4M	100x	as long as short
Bullet SOL-USD	+0.0083%	1h	115.77	−0.249%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	115.80	−0.228%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.78	−0.240%	$12.9M	$60.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.77	−0.251%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.80	−0.226%	$348K	$247K	20x	as long as short
Katana Perps SOL-USDshort	+0.0099%	8h	115.81	−0.218%	$64K	$907K	20x
Aster SOLUSDT	+0.0099%	8h	115.79	−0.234%	$173.6M	$184.2M	100x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	115.79	−0.236%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.76	−0.259%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.89	−0.149%	$686.6M	$399.1M	20x	as long as short
Pacifica SOL	+0.0100%	1h	115.80	−0.225%	$15.5M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.83	−0.201%	$961.9M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.84	−0.192%	$360.8M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.85	−0.184%	$216K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.87	−0.168%	$915K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.24	+0.150%	$130.1M	$16.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.82	−0.209%	$839.2M	$666.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.84	−0.192%	$356.6M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.81	−0.219%	$124.1M	$229.2M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.83	−0.201%	$22.8M	$40.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.00	−0.057%	$24.8M	$114.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.13	+0.056%	$93.2M	$406.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.99	−0.063%	$47.5M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.19	+0.108%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.95	−0.097%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.76	−0.261%	$318K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.77	−0.249%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.79	−0.239%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.79	−0.235%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.77	−0.249%	$224.2M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	115.84	−0.192%	$45.1M	$104.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	115.74	−0.279%	$7.9M	$38.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	115.79	−0.238%	—	$239.4M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0120%	1h	115.85	−0.179%	$26.2M	$22.0M	50x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.420%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.11	+0.040%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.75	−0.273%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.81	−0.218%	$51.8M	$67.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.78	−0.244%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.91	−0.135%	$1.9M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0604%	1h	116.02	−0.035%	$25K	$53K	20x	as long as short