SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0184%/8h= +20.2% APRnext payment +$0.23 per $10,000 · paid last 24h +0.030%

Price spread now: Phoenix against Kraken Futures+0.334%49s7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.235% of the position

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$22 on $10k

Price spread, last 4 days (all we have)+0.290%+$29 · spread now +0.334%, 7d avg +0.083%

Together, before fees+0.506%+$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.252% dearer against Kraken Futures than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.083%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOLUSD	117.60	−0.0055	get 0.0007% / 1h	7m 28s	$31.6M	$98.9M	100x
Short	Phoenix SOL	117.99	0.0129	get 0.0016% / 1h	7m 28s	$6.5M	$13.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Kraken Futures. 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 Kraken FuturesbpFee PhoenixbpOrdersPrice spread, now +0.334%Rate

Funding earned: $38.71
Price spread: +0.334% → +0.083%: $25.17
Slippage, 4 orders: −$6.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $40.38
Costs to cover: 0.235%
Break-even: from the start

Slippage from Kraken Futures: live order book, 2 min ago; Phoenix: live order book, 2 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 Kraken Futures live order book, 2 min ago	1.27 bp	6.9 bp −$7	8.3 bp −$83	12.2 bp −$1,219	25.6 bp −$12.8K
Sell Phoenix live order book, 2 min ago	0.85 bp	4.6 bp −$5	5.7 bp −$57	11.3 bp −$1,126	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
Hotstuff SOL-PERP	−0.0080%	1h	117.58	−0.019%	$919	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	117.45	−0.128%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSDlong	−0.0055%	1h	117.60	long leg	$31.6M	$98.9M	100x
Bluefin SOL-PERP	−0.0053%	1h	117.61	+0.015%	$25K	$28K	25x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.54	−0.045%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.66	+0.053%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.56	−0.034%	$4.5M	$24.1M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0031%	1h	117.65	+0.043%	$26.4M	$24.9M	50x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	117.64	+0.038%	$104K	$696K	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.49	−0.091%	$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	+0.021%	$7.9M	$403.6M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.63	+0.028%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.55	−0.037%	$13.2M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.50	−0.079%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.61	+0.014%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.48	−0.099%	$56K	$840K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.58	−0.015%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.52	−0.070%	$5.8M	$38.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.49	−0.092%	$176.8M	$179.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.57	−0.025%	$14.5M	$128.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.48	−0.099%	$968.0M	$3.71B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.48	−0.100%	$827.6M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.44	−0.133%	$365.2M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.51	−0.074%	$234K	$861K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.53	−0.061%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.312%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.52	−0.065%	$858.7M	$655.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.52	−0.065%	$425.5M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.52	−0.062%	$130.4M	$213.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.46	−0.119%	$486.6M	$431.6M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.48	−0.102%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.57	−0.023%	$23.6M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.77	+0.149%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.75	+0.132%	$94.6M	$391.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.66	+0.054%	$48.2M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.69	+0.079%	$1.7M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.63	+0.028%	$1.3M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.46	−0.116%	$351K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.63	+0.026%	$199K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.63	+0.030%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.60	+0.003%	$6.2M	$10.7M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.67	+0.059%	$228.5M	$45.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.60	+0.003%	$45.9M	$100.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0103%	8h	117.66	+0.055%	$1.3M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.45	−0.122%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.61	+0.015%	—	$215.3M	500x	as long as short
Phoenix SOLshort	+0.0129%	1h	117.99	+0.334%	$6.5M	$13.4M	25x
RISEx SOL/USDC	+0.0136%	1h	117.58	−0.019%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0171%	1h	117.63	+0.028%	$719.4M	$387.7M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.45	−0.126%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.091%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.69	+0.079%	$51.9M	$71.6M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.68	+0.070%	$127K	$3.7M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.62	+0.022%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0412%	1h	117.81	+0.177%	$25K	$52K	20x	as long as short