Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.005%

Price spread now: Katana Perps against Jupiter Perps−0.049%7-day average −0.005% · you buy dearer than you sell

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

Long on Jupiter Perps Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.211%+$21 · spread now −0.049%, 7d avg −0.005%

Together, before fees+0.203%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Katana Perps is 0.044% cheaper against Jupiter Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps SOL-PERP	116.24	L +0.0120% / S +0.0056%	pay 0.0015% / 1h	35m 25s	—	$230.6M	500x
Short	Katana Perps SOL-USD	116.18	0.0100	get 0.0100% / 8h	7h 35m	$64K	$901K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Jupiter 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 Jupiter PerpsbpFee Katana PerpsbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$4.24
Price spread: −0.049% → −0.005%: −$4.38
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$24.43
Costs to cover: 0.158%
Break-even: never at this rate

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

Jupiter 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 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
Hotstuff SOL-PERP	−0.0080%	1h	116.34	+0.089%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.29	+0.049%	$32.3M	$105.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.22	−0.015%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.25	+0.011%	$4.3M	$23.3M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.25	+0.014%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.22	−0.012%	$99K	$3.4M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	116.31	+0.060%	$26.2M	$21.5M	50x	as long as short
Vest SOL-PERP	+0.0001%	1h	116.20	−0.032%	—	$636K	20x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.15	−0.075%	$1.8M	$2.9M	13x	as long as short
Bybit SOLUSDT	+0.0022%	8h	116.20	−0.032%	$730.6M	$1.39B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0025%	8h	116.20	−0.035%	$479.3M	$448.1M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.28	+0.040%	$7.8M	$392.2M	50x	as long as short
Aster SOLUSDT	+0.0052%	8h	116.21	−0.024%	$176.3M	$169.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0068%	8h	116.23	−0.004%	$1.0M	$5.8M	100x	as long as short
SoDEX SOL-USD	+0.0082%	1h	116.24	+0.002%	$6.1M	$11.0M	20x	as long as short
Lighter SOL	+0.0096%	1h	116.20	−0.028%	$13.0M	$56.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.19	−0.038%	$2.2M	$14.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.22	−0.011%	$351K	$249K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	116.21	−0.022%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	116.18	−0.049%	$64K	$901K	20x
Nado SOL-PERP	+0.0100%	1h	116.19	−0.036%	$5.4M	$41.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.33	+0.080%	$695.2M	$404.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.25	+0.011%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.22	−0.015%	$961.0M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.23	−0.006%	$365.8M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.18	−0.049%	$217K	$845K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.22	−0.014%	$945K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.22	−0.015%	$847.8M	$611.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.21	−0.023%	$373.8M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.21	−0.022%	$129.6M	$237.4M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.22	−0.019%	—	$372.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.23	−0.006%	$22.8M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.19	−0.044%	$24.8M	$104.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.21	−0.020%	$93.3M	$404.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.14	−0.084%	$47.5M	$28.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.33	+0.076%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.17	−0.058%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.25	+0.011%	$318K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.21	−0.021%	$281K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.16	−0.066%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.24	+0.004%	$225.0M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.21	−0.023%	$45.2M	$103.2M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.25	+0.009%	$125.8M	$25.7M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.18	−0.046%	$8.2M	$36.4M	50x	as long as short
01 Exchange SOLUSD	+0.0112%	1h	116.26	+0.020%	$101K	$182K	20x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	116.33	+0.082%	$101K	$683K	20x	as long as short
Jupiter Perps SOL-PERPlong	L +0.0120% / S +0.0056%	1h	116.24	long leg	—	$230.6M	500x
Phoenix SOL	+0.0124%	1h	116.27	+0.028%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	+0.088%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.22	−0.016%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.27	+0.028%	$52.1M	$63.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.23	−0.006%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0410%	1h	116.30	+0.056%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.27	+0.032%	$2.1M	$4.8M	20x	as long as short
Bluefin SOL-PERP	+0.0686%	1h	116.24	0.000%	$27K	$36K	25x	as long as short