Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%

Price spread now: Arcus against Kalshi−0.008%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Kalshi Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.085%+$9 on $10k

Price spread, last 7 days+0.006%+$1 · spread now −0.008%, 7d avg +0.005%

Together, before fees+0.092%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	119.25	0	get 0.0000% / 8h	5h 05m	$1.2M	$20.7M	3.1x
Short	Arcus SOL-USD	119.24	0.0100	get 0.0013% / 1h	5m 02s	$1.9M	$9.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Kalshi. 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 KalshibpFee ArcusbpOrdersPrice spread, now −0.008%Rate

Funding earned: $21
Price spread: −0.008% → +0.005%: −$1.38
Slippage, 4 orders: −$7.62
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$2.5
Costs to cover: 0.221%
Break-even: 7.8 days

Slippage from Kalshi: live order book, 4 min ago; Arcus: live order book, 4 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 Kalshi live order book, 4 min ago	0.97 bp	7.3 bp −$7	11.3 bp −$113	18.3 bp −$1,834	doesn't fit
Sell Arcus live order book, 4 min ago	0.25 bp	2.7 bp −$3	2.8 bp −$28	5.4 bp −$539	doesn't fit

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
Bluefin SOL-PERP	−0.0208%	1h	119.23	−0.023%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.17	−0.066%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0063%	1h	119.16	−0.082%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.17	−0.072%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.23	−0.022%	$115K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.13	−0.101%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	119.25	long leg	$1.2M	$20.7M	3.1x
Perpl SOL	0.0000%	43m	119.21	−0.036%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.23	−0.020%	$6.5M	$13.6M	25x	as long as short
Orderly PERP_SOL_USDC	+0.0070%	8h	119.25	−0.003%	$1.1M	$5.9M	100x	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	+0.0072%	1h	119.23	−0.020%	$104K	$156K	20x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	119.06	−0.159%	$119K	$607K	20x	as long as short
Aftermath Perps SOLUSD	+0.0077%	1h	119.08	−0.147%	$24K	$47K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.24	−0.011%	—	$374.8M	—	as long as short
HTX SOL-USDT	+0.0082%	8h	119.19	−0.052%	$232.0M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	119.22	−0.029%	$870.4M	$689.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.23	−0.018%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.21	−0.039%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.21	−0.037%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.18	−0.064%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.18	−0.062%	$45K	$801K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.17	−0.070%	$6.0M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.32	+0.055%	$718.3M	$408.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.24	−0.009%	$178.6M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.19	−0.053%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.22	−0.029%	$982.1M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.24	−0.012%	$829.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.23	−0.020%	$372.4M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.04	−0.179%	$233K	$888K	10x	as long as short
Arcus SOL-USDshort	+0.0100%	1h	119.24	−0.008%	$1.9M	$9.0M	20x
Bulk SOL-USD	+0.0100%	1h	118.85	−0.339%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.23	−0.020%	$452.3M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.25	−0.005%	$139.6M	$202.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.22	−0.025%	$496.5M	$456.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.23	−0.020%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.17	−0.071%	$27.5M	$128.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.89	−0.304%	$95.5M	$400.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.99	−0.221%	$48.7M	$31.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.00	−0.213%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.05	−0.171%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.22	−0.029%	$367K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.22	−0.027%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.23	−0.023%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.24	−0.012%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.22	−0.029%	$46.5M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.21	−0.035%	$8.7M	$36.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0109%	1h	119.30	+0.037%	$26.7M	$27.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.28	+0.018%	$8.3M	$416.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.22	−0.031%	—	$224.8M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.25	−0.002%	$32.6M	$97.0M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0072%	1h	119.22	−0.029%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.22	−0.028%	$1.1M	$551K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.25	−0.001%	$1.7M	$5.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.02	−0.196%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.21	−0.037%	$52.0M	$84.2M	125x	as long as short