Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:22 UTC+0.0123%/8h= +13.5% APRpaid last 24h −0.024%

Price spread now: Perpl against Katana Perps+0.033%7-day average +0.022% · you sell dearer than you buy

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

Long on Katana Perps Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.207%−$21 on $10k

Price spread, last 7 days+0.036%+$4 · spread now +0.033%, 7d avg +0.022%

Together, before fees−0.171%+ Points / potential airdropPerpl: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.207%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	117.64	0.0100	pay 0.0100% / 8h	5h 08m	$56K	$856K	20x
Short	Perpl SOL	117.68	0.0223	get 0.0020% / 43m	39m 14s	$127K	$3.7M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Katana 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 Katana PerpsbpFee PerplbpOrdersPrice spread, now +0.033%Rate

Funding earned: $25.93
Price spread: +0.033% → +0.022%: $1.12
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $9.45
Costs to cover: 0.176%
Break-even: 4.4 days

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

Katana Perps and Perpl: 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	117.65	+0.005%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	117.59	−0.040%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.60	−0.037%	$31.6M	$98.9M	100x	as long as short
Bluefin SOL-PERP	−0.0053%	1h	117.61	−0.021%	$25K	$28K	25x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.54	−0.082%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.66	+0.016%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.68	+0.032%	$4.5M	$24.1M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0031%	1h	117.65	+0.006%	$26.4M	$24.9M	50x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	117.88	+0.204%	$105K	$696K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.65	+0.009%	$100K	$166K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.62	−0.015%	$7.9M	$403.6M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.63	−0.009%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.60	−0.034%	$13.2M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.59	−0.045%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.61	−0.023%	$345K	$226K	20x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	117.64	long leg	$56K	$856K	20x
Paradex SOL-USD-PERP	+0.0100%	8h	117.70	+0.052%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.63	−0.004%	$5.8M	$38.8M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.59	−0.042%	$176.9M	$180.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.69	+0.046%	$14.5M	$128.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.59	−0.042%	$968.9M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.60	−0.036%	$828.9M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.53	−0.094%	$365.4M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	−0.026%	$234K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.65	+0.012%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.276%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.61	−0.026%	$858.8M	$655.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.58	−0.051%	$424.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.59	−0.044%	$130.5M	$213.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.63	−0.010%	$487.3M	$431.5M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.60	−0.037%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.70	+0.051%	$23.7M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.77	+0.112%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.72	+0.065%	$94.6M	$391.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.93	+0.247%	$48.3M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.83	+0.162%	$1.7M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.96	+0.272%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.62	−0.017%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.63	−0.011%	$199K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.63	−0.006%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.60	−0.034%	$6.2M	$10.7M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.67	+0.022%	$228.5M	$45.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.60	−0.034%	$45.9M	$100.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0103%	8h	117.66	+0.019%	$1.3M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.56	−0.065%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.61	−0.022%	—	$215.3M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.99	+0.298%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.70	+0.050%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0173%	1h	117.72	+0.068%	$720.2M	$387.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.60	−0.035%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.128%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.69	+0.043%	$51.9M	$71.6M	125x	as long as short
Perpl SOLshort	+0.0223%	43m	117.68	+0.033%	$127K	$3.7M	8.3x
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.62	−0.015%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0412%	1h	117.81	+0.141%	$25K	$52K	20x	as long as short