SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.027%

Price spread now: Kalshi against Phemex−0.002%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

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

costs, in and out, $10k−$310.308% of the position

Long on Phemex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.002%, 7d avg −0.013%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	117.61	0.0100	pay 0.0100% / 8h	6h 16m	$45.8M	$101.4M	50x
Short	Kalshi KXSOLPERP	117.61	0	get 0.0000% / 8h	2h 16m	$1.4M	$20.8M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now −0.002%Rate

Funding earned: −$21
Price spread: −0.002% → −0.013%: $1.14
Slippage, 4 orders: −$8.77
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$50.63
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Kalshi: live order book, 3 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 Phemex live order book, 3 min ago	0.43 bp	8.1 bp −$8	8.1 bp −$81	14.8 bp −$1,482	doesn't fit
Sell Kalshi live order book, 3 min ago	1.40 bp	8.4 bp −$8	12.6 bp −$126	20.6 bp −$2,062	doesn't fit

SOL on 54 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	117.63	+0.013%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0064%	1h	117.52	−0.078%	—	$607K	20x	as long as short
Derive SOL-PERP	−0.0027%	1h	117.52	−0.074%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.54	−0.057%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.51	−0.088%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	117.61	−0.002%	$1.4M	$20.8M	3.1x
Hibachi SOL/USDT-P	+0.0008%	1h	117.62	+0.006%	$100K	$691K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0015%	1h	117.65	+0.033%	$26.4M	$25.5M	50x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.55	−0.049%	$2.0M	$4.8M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.61	0.000%	$31.5M	$98.9M	100x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SOL_USDT	+0.0052%	8h	117.55	−0.051%	$850.3M	$664.3M	100x	as long as short
ApeX Omni SOLUSDT	+0.0055%	1h	117.69	+0.068%	$1.5M	$6.0M	50x	as long as short
HTX SOL-USDT	+0.0063%	8h	117.51	−0.082%	$228.4M	$45.5M	75x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.62	+0.011%	$8.0M	$408.7M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.54	−0.059%	—	$369.9M	—	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.53	−0.067%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.48	−0.107%	$13.1M	$60.2M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.53	−0.064%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.57	−0.034%	$103K	$158K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.60	−0.008%	$345K	$258K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.52	−0.079%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.50	−0.094%	$64K	$855K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.52	−0.077%	$5.8M	$41.5M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.55	−0.051%	$176.4M	$179.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.54	−0.064%	$14.4M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.53	−0.068%	$968.3M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.54	−0.059%	$819.3M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.52	−0.077%	$365.8M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.51	−0.085%	$238K	$890K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.55	−0.054%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.53	−0.072%	$134.5M	$13.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.56	−0.043%	$426.4M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.56	−0.040%	$130.4M	$210.9M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.54	−0.058%	$487.3M	$441.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.58	−0.026%	$23.7M	$37.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.74	+0.113%	$24.4M	$122.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.63	+0.020%	$94.5M	$405.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.76	+0.126%	$48.2M	$28.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.54	−0.060%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.55	−0.051%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.56	−0.043%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.52	−0.076%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.57	−0.037%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.61	0.000%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	117.61	long leg	$45.8M	$101.4M	50x
Phoenix SOL	+0.0101%	1h	117.76	+0.128%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.47	−0.115%	$8.1M	$36.2M	50x	as long as short
Hyperliquid SOL	+0.0106%	1h	117.68	+0.060%	$719.8M	$400.7M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.54	−0.060%	—	$225.5M	500x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.55	−0.055%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	+0.221%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.58	−0.022%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0341%	1h	117.73	+0.103%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.57	−0.031%	$129K	$3.9M	8.3x	as long as short