Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0005%/8h= +0.6% APRpaid last 24h +0.001%

Price spread now: Kraken Futures against Bybit−0.007%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 3 days (all we have)−0.117%−$12 · spread now −0.007%, 7d avg −0.005%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	118.63	0.0100	pay 0.0100% / 8h	21m 38s	$822.8M	$1.29B	100x
Short	Kraken Futures PF_SOLUSD	118.62	0.0105	get 0.0013% / 1h	21m 38s	$32.4M	$97.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.007%Rate

Funding earned: $1.15
Price spread: −0.007% → −0.005%: −$0.19
Slippage, 4 orders: −$5.67
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$25.71
Costs to cover: 0.267%
Break-even: 163.6 days

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: 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 Bybit live order book, 3 min ago	0.42 bp	6.1 bp −$6	7.1 bp −$71	11.2 bp −$1,125	20.2 bp −$10.1K
Sell Kraken Futures live order book, 3 min ago	1.27 bp	6.9 bp −$7	8.5 bp −$85	12.1 bp −$1,207	22.3 bp −$11.2K

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	118.52	−0.096%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.56	−0.058%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0069%	1h	118.59	−0.033%	$2.0M	$2.8M	13x	as long as short
ApeX Omni SOLUSDT	−0.0020%	1h	118.38	−0.213%	$1.5M	$6.2M	50x	as long as short
dYdX SOL-USD	−0.0013%	1h	118.68	+0.046%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.71	+0.070%	$112K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.64	+0.009%	$1.3M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.72	+0.078%	$175K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0065%	1h	118.73	+0.081%	$26.6M	$26.1M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0075%	8h	118.71	+0.064%	$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	+0.0076%	8h	118.62	−0.008%	$863.4M	$683.1M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.69	+0.051%	$103K	$157K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.61	−0.014%	—	$372.7M	—	as long as short
HTX SOL-USDT	+0.0081%	8h	118.60	−0.024%	$230.9M	$45.1M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.61	−0.013%	$13.4M	$56.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.61	−0.013%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.47	−0.133%	$119K	$629K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.68	+0.039%	$352K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.71	+0.064%	$8.1M	$416.2M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.62	−0.012%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.64	+0.008%	$45K	$806K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.69	+0.051%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.75	+0.101%	$718.3M	$410.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.63	0.000%	$177.6M	$178.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.66	+0.022%	$12.2M	$121.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.61	−0.013%	$978.9M	$3.84B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	118.63	long leg	$822.8M	$1.29B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	118.61	−0.017%	$369.6M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.47	−0.135%	$228K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.66	+0.025%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.93	+0.253%	$133.7M	$5.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.62	−0.008%	$425.3M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.62	−0.008%	$137.5M	$205.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.59	−0.030%	$491.8M	$461.0M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.72	+0.076%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.69	+0.052%	$27.1M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.51	−0.098%	$95.2M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.79	+0.132%	$48.6M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.49	−0.118%	$1.3M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.67	+0.034%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.68	+0.044%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.69	+0.048%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.64	+0.012%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.64	+0.008%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.67	+0.034%	$46.4M	$102.9M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.46	−0.143%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.59	−0.035%	$8.7M	$36.1M	50x	as long as short
Kraken Futures PF_SOLUSDshort	+0.0105%	1h	118.62	−0.007%	$32.4M	$97.4M	100x
Aftermath Perps SOLUSD	+0.0115%	1h	118.72	+0.078%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.56	−0.061%	—	$226.7M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0168% / S −0.0068%	1h	118.70	+0.061%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.236%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.64	+0.006%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.56	−0.059%	$52.2M	$80.4M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.66	+0.029%	$1.8M	$5.3M	20x	as long as short