Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.027%

Price spread now: Reya against Katana Perps−0.032%7-day average +0.021% · you buy dearer than you sell

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

Long on Katana Perps Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.133%+$13 on $10k

Price spread, last 7 days+0.042%+$4 · spread now −0.032%, 7d avg +0.021%

Together, before fees+0.175%+ Points / potential airdropReya: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.053% cheaper against Katana Perps than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.021%). If the spread goes back, that is −$5 on $10k: about 45 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.63	0.0099	pay 0.0099% / 8h	1h 53m	$64K	$910K	20x
Short	Reya SOLRUSDPERP	116.59	0.0194	get 0.0024% / 1h	53m 29s	$1.1M	$544K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.032%Rate

Funding earned: $19.79
Price spread: −0.032% → +0.021%: −$5.27
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Reya: 3 bp × 2 orders: −$6
Net: $4.72
Costs to cover: 0.098%
Break-even: 5.3 days

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

Katana Perps and Reya: 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
Bybit SOLUSDT	−0.0106%	8h	116.61	−0.019%	$741.3M	$1.44B	100x	as long as short
Hibachi SOL/USDT-P	−0.0088%	1h	116.67	+0.034%	$97K	$688K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.68	+0.040%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.72	+0.077%	$32.9M	$104.0M	100x	as long as short
Derive SOL-PERP	−0.0048%	1h	116.61	−0.016%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0022%	1h	116.63	+0.004%	—	$625K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.65	+0.017%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.71	+0.069%	$4.3M	$23.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.74	+0.095%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.69	+0.054%	$110K	$3.6M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0032%	1h	116.66	+0.023%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.68	+0.043%	$100K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.72	+0.074%	$8.0M	$406.3M	50x	as long as short
SoDEX SOL-USD	+0.0052%	1h	116.68	+0.043%	$6.1M	$10.9M	20x	as long as short
Bitget SOLUSDT	+0.0054%	8h	116.62	−0.011%	$480.9M	$461.6M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0092%	8h	116.69	+0.049%	$1.0M	$6.0M	100x	as long as short
Aster SOLUSDT	+0.0095%	8h	116.61	−0.014%	$175.8M	$176.6M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.70	+0.057%	$13.1M	$60.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.69	+0.049%	$351K	$247K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	116.70	+0.064%	$1.0M	$551K	50x	as long as short
Katana Perps SOL-USDlong	+0.0099%	8h	116.63	long leg	$64K	$910K	20x
Nado SOL-PERP	+0.0100%	1h	116.66	+0.022%	$5.5M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.75	+0.103%	$699.8M	$408.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.73	+0.082%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.62	−0.006%	$969.1M	$3.90B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.62	−0.009%	$371.1M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.62	−0.009%	$217K	$886K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.71	+0.069%	$905K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.05	+0.359%	$126.2M	$23.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.69	+0.051%	$847.1M	$662.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.62	−0.009%	$362.5M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.69	+0.048%	$128.9M	$232.1M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.58	−0.045%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.68	+0.043%	$23.1M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.71	+0.073%	$24.8M	$112.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.74	+0.094%	$93.7M	$410.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.73	+0.087%	$47.8M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.85	+0.189%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.70	+0.060%	$1.3M	$12.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.62	−0.009%	$315K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.65	+0.020%	$235K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.70	+0.059%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.65	+0.015%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.67	+0.036%	$226.0M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.68	+0.043%	$45.4M	$105.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.66	+0.026%	$8.1M	$39.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.70	+0.060%	—	$235.5M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0135%	1h	116.76	+0.113%	$26.5M	$22.0M	50x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	117.09	+0.394%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.75	+0.103%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERPshort	+0.0194%	1h	116.59	−0.032%	$1.1M	$544K	25x
BloFin SOL-USDT	+0.0220%	8h	116.71	+0.069%	$52.3M	$68.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.69	+0.048%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.77	+0.117%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0496%	1h	116.83	+0.174%	$25K	$56K	20x	as long as short