Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0253%/8h= −27.7% APRpaid last 24h −0.009%

Price spread now: Kraken Futures against OKX−0.048%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.048%, 7d avg +0.008%

Together, before fees+0.115%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.056% cheaper against OKX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.008%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.132%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.132% in total (about 6.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SOL-USDT-SWAP	116.39	0.0100	pay 0.0100% / 8h	37m 11s	$367.7M	$1.77B	100x
Short	Kraken Futures PF_SOLUSD	116.33	−0.0153	pay 0.0019% / 1h	37m 11s	$32.4M	$106.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now −0.048%Rate

Funding earned: −$53.16
Price spread: −0.048% → +0.008%: −$5.55
Slippage, 4 orders: −$4.14
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$82.86
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Kraken Futures: 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 OKX live order book, 2 min ago	0.43 bp	5.4 bp −$5	5.7 bp −$57	10.2 bp −$1,015	22.8 bp −$11.4K
Sell Kraken Futures live order book, 2 min ago	0.43 bp	6.7 bp −$7	9.1 bp −$91	13.7 bp −$1,365	26.9 bp −$13.4K

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
Kraken Futures PF_SOLUSDshort	−0.0153%	1h	116.33	−0.048%	$32.4M	$106.4M	100x
Hibachi SOL/USDT-P	−0.0144%	1h	116.48	+0.076%	$96K	$684K	20x	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.32	−0.064%	$735.4M	$1.43B	100x	as long as short
Derive SOL-PERP	−0.0088%	1h	116.39	−0.001%	$1.9M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.41	+0.017%	$1K	$8K	25x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.85	+0.395%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0050%	1h	116.34	−0.044%	—	$633K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.35	−0.035%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.40	+0.013%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.34	−0.040%	$106K	$3.5M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0006%	1h	116.35	−0.034%	$4.3M	$23.5M	20x	as long as short
SoDEX SOL-USD	+0.0008%	1h	116.30	−0.077%	$6.1M	$11.0M	20x	as long as short
Lighter RH SOL	+0.0024%	1h	116.28	−0.090%	$2.1M	$16.7M	25x	as long as short
Bitget SOLUSDT	+0.0024%	8h	116.35	−0.038%	$480.0M	$458.0M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.34	−0.043%	$99K	$179K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.33	−0.056%	$7.9M	$400.7M	50x	as long as short
Aster SOLUSDT	+0.0057%	8h	116.37	−0.017%	$176.8M	$168.8M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0074%	8h	116.31	−0.072%	$1.0M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0078%	1h	116.38	−0.007%	$26.4M	$22.0M	50x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.41	+0.014%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.28	−0.090%	$13.1M	$60.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.34	−0.046%	$350K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.29	−0.086%	$64K	$913K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.39	+0.004%	$5.5M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.42	+0.025%	$702.0M	$405.9M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.42	+0.022%	$15.7M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.34	−0.043%	$964.1M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAPlong	+0.0100%	8h	116.39	long leg	$367.7M	$1.77B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.017%	$218K	$830K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.37	−0.019%	$890K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.35	−0.034%	$846.0M	$662.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.27	−0.103%	$368.3M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.31	−0.070%	$132.0M	$233.9M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.32	−0.057%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.36	−0.026%	$23.0M	$35.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.64	+0.217%	$25.0M	$108.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.49	+0.089%	$93.5M	$405.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.54	+0.129%	$47.7M	$29.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.72	+0.284%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.51	+0.103%	$1.3M	$11.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.32	−0.060%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.34	−0.043%	$248K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.33	−0.050%	$26K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.30	−0.075%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.29	−0.086%	$225.1M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.32	−0.060%	$45.2M	$104.5M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	+0.137%	$126.1M	$26.3M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.26	−0.108%	$8.2M	$37.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.35	−0.039%	—	$233.8M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.76	+0.318%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.29	−0.090%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.27	−0.103%	$51.8M	$65.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.34	−0.042%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0480%	1h	116.60	+0.182%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.41	+0.020%	$2.1M	$4.8M	20x	as long as short