Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h −0.002%

Price spread now: SoDEX against Katana Perps−0.051%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 Katana Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.051%, 7d avg −0.005%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.046% cheaper against Katana Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	117.91	0.0100	pay 0.0100% / 8h	4h 04m	$42K	$735K	20x
Short	SoDEX SOL-USD	117.85	0.0100	get 0.0013% / 1h	4m 32s	$6.2M	$10.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0.04
Price spread: −0.051% → −0.005%: −$4.6
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$16.36
Costs to cover: 0.118%
Break-even: 2603.7 days

Slippage unknown: Katana Perps: no order-book sample; SoDEX: live order book, 4 min ago. 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 SoDEX live order book, 4 min ago	0.42 bp	4.4 bp −$4	5.1 bp −$51	18.3 bp −$1,829	doesn't fit

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
Injective SOL/USDC PERP	−0.0627%	1h	118.30	+0.331%	$4K	$41K	12x	as long as short
dYdX SOL-USD	−0.0123%	1h	117.94	+0.025%	$4.7M	$25.3M	20x	as long as short
Vest SOL-PERP	−0.0106%	1h	117.82	−0.076%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.85	−0.051%	$836	$8K	25x	as long as short
Derive SOL-PERP	−0.0041%	1h	117.79	−0.105%	$1.9M	$3.0M	13x	as long as short
Aftermath Perps SOLUSD	−0.0015%	1h	118.04	+0.108%	$24K	$45K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.89	−0.021%	$57K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.94	+0.025%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.87	−0.037%	$166K	$4.0M	8.3x	as long as short
HTX SOL-USDT	+0.0036%	8h	117.86	−0.042%	$229.8M	$41.9M	75x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0044%	1h	117.94	+0.025%	$1.5M	$6.3M	50x	as long as short
KuCoin SOLUSDTM	+0.0052%	8h	117.83	−0.064%	$140.8M	$172.8M	75x	as long as short
BingX SOL-USDC	+0.0052%	8h	117.83	−0.066%	—	$10.4M	—	as long as short
Orderly PERP_SOL_USDC	+0.0052%	8h	117.89	−0.017%	$1.1M	$5.6M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0061%	1h	117.89	−0.014%	$34.1M	$84.3M	100x	as long as short
Bitget SOLUSDT	+0.0065%	8h	117.85	−0.050%	$494.1M	$436.8M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.89	−0.017%	$114K	$132K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0073%	1h	117.95	+0.030%	$26.5M	$27.1M	50x	as long as short
Gate SOL_USDT	+0.0076%	8h	117.85	−0.051%	$855.3M	$667.4M	100x	as long as short
OKX SOL-USDT-SWAP	+0.0088%	8h	117.84	−0.059%	$366.3M	$1.66B	100x	as long as short
Paradex SOL-USD-PERP	+0.0096%	8h	117.87	−0.032%	$1.0M	$437K	50x	as long as short
Lighter SOL	+0.0096%	1h	117.88	−0.025%	$13.6M	$50.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.87	−0.034%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.86	−0.044%	$350K	$748K	20x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	117.91	long leg	$42K	$735K	20x
Nado SOL-PERP	+0.0100%	1h	117.88	−0.030%	$5.5M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.96	+0.042%	$710.2M	$424.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.86	−0.042%	$177.9M	$169.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.91	−0.002%	$13.3M	$106.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.85	−0.052%	$963.7M	$3.64B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.86	−0.042%	$813.6M	$1.23B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.85	−0.051%	$233K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.92	+0.004%	$2.0M	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.05	+0.119%	$131.0M	$16.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.84	−0.059%	$480.2M	$1.06B	300x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.88	−0.025%	$24.0M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.94	+0.029%	$28.0M	$118.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.05	+0.120%	$94.8M	$384.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.96	+0.043%	$48.3M	$32.5M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.94	+0.025%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.88	−0.025%	$359K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.84	−0.062%	$199K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.88	−0.026%	$37K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.87	−0.032%	$191K	$1.9M	30x	as long as short
SoDEX SOL-USDshort	+0.0100%	1h	117.85	−0.051%	$6.2M	$10.9M	20x
Phemex SOLUSDT	+0.0100%	8h	117.87	−0.034%	$45.8M	$95.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.86	−0.044%	$8.6M	$37.1M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	117.92	+0.007%	$7.8M	$398.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	117.94	+0.024%	—	$206.7M	500x	as long as short
Hibachi SOL/USDT-P	+0.0144%	1h	118.04	+0.113%	$121K	$562K	20x	as long as short
Phoenix SOL	+0.0149%	1h	118.13	+0.187%	$7.3M	$11.4M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0172% / S −0.0074%	1h	117.89	−0.019%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	117.83	−0.067%	$1.1M	$535K	25x	as long as short
RISEx SOL/USDC	+0.0185%	1h	117.92	+0.005%	$1.6M	$6.5M	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.82	−0.076%	$51.6M	$89.9M	125x	as long as short