Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Kraken Futures+0.247%7-day average +0.001% · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 3 days (all we have)−0.264%−$26 · spread now +0.247%, 7d avg +0.001%

Together, before fees−0.286%+ Points / potential airdropVariational Omni: Active · farm board−$29 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: Variational Omni is 0.246% dearer against Kraken Futures than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOLUSD	118.40	0.0106	pay 0.0013% / 1h	23m 56s	$32.4M	$97.3M	100x
Short	Variational Omni SOL	118.69	0.0100	get 0.0100% / 8h	23m 56s	$27.1M	$129.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.247%Rate

Funding earned: −$1.19
Price spread: +0.247% → +0.001%: $24.57
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $13.38
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 Kraken Futures live order book, 5 min ago	0.84 bp	5.8 bp −$6	7.2 bp −$72	14.3 bp −$1,432	32.4 bp −$16.2K
Sell Variational Omni RFQ quote, just now	1.18 bp	doesn't fit	1.8 bp −$18	9.2 bp −$920	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	118.44	+0.036%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.42	+0.013%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0069%	1h	118.36	−0.036%	$2.0M	$2.8M	13x	as long as short
dYdX SOL-USD	−0.0014%	1h	118.51	+0.096%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.45	+0.041%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.45	+0.041%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.45	+0.047%	$175K	$4.0M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0019%	1h	118.84	+0.372%	$1.5M	$6.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0069%	1h	118.46	+0.047%	$26.5M	$26.1M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0075%	8h	118.43	+0.023%	$1.0M	$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
Gate SOL_USDT	+0.0079%	8h	118.36	−0.033%	$859.4M	$682.1M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.48	+0.068%	$103K	$157K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.37	−0.028%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0083%	8h	118.30	−0.080%	$230.3M	$45.1M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.39	−0.008%	$13.4M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.38	−0.017%	$2.2M	$17.0M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.72	+0.273%	$119K	$629K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.36	−0.029%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.43	+0.028%	$8.1M	$414.9M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.48	+0.067%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.40	+0.001%	$45K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.48	+0.072%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.48	+0.068%	$717.0M	$408.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.36	−0.033%	$177.2M	$178.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.49	+0.076%	$12.2M	$121.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.38	−0.014%	$977.0M	$3.84B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.40	+0.001%	$821.3M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.39	−0.008%	$367.4M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.42	+0.018%	$232K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.48	+0.068%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.93	+0.449%	$133.7M	$5.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.43	+0.026%	$427.7M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.38	−0.013%	$137.3M	$205.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.40	+0.003%	$490.7M	$460.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.39	−0.008%	$24.0M	$38.5M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	118.69	+0.247%	$27.1M	$129.1M	—
edgeX SOLUSDC	+0.0100%	4h	118.84	+0.375%	$95.5M	$400.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.79	+0.327%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.73	+0.279%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.41	+0.009%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.44	+0.030%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.44	+0.034%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.37	−0.021%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.38	−0.016%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.41	+0.009%	$46.3M	$102.9M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.92	+0.440%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.39	−0.011%	$8.7M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSDlong	+0.0106%	1h	118.40	long leg	$32.4M	$97.3M	100x
Aftermath Perps SOLUSD	+0.0115%	1h	118.81	+0.344%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.56	+0.136%	—	$226.5M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0168% / S −0.0066%	1h	118.45	+0.043%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.431%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.40	+0.004%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.57	+0.144%	$52.2M	$80.4M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.46	+0.054%	$1.6M	$5.2M	20x	as long as short