Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.024%

Price spread now: Kalshi against Hotstuff+0.007%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff SOL-PERP	116.23	−0.0080	get 0.0010% / 1h	19m 12s	$1K	$8K	25x
Short	Kalshi KXSOLPERP	116.23	0	get 0.0000% / 8h	4h 19m	$1.4M	$19.3M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hotstuff. 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 HotstuffbpFee KalshibpOrdersPrice spread, now +0.007%Rate

Funding earned: $16.8
Price spread: +0.007% → 0.000%: $0.69
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $2.49
Costs to cover: 0.150%
Break-even: 6.0 days

Slippage unknown: Hotstuff: no order-book sample; Kalshi: live order book, 5 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 5 min ago	1.55 bp	8.0 bp −$8	12.2 bp −$122	18.8 bp −$1,879	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_SOLUSD	−0.0153%	1h	116.27	+0.038%	$32.4M	$107.0M	100x	as long as short
Bybit SOLUSDT	−0.0103%	8h	116.21	−0.014%	$733.5M	$1.43B	100x	as long as short
Hibachi SOL/USDT-P	−0.0096%	1h	116.06	−0.146%	$100K	$675K	20x	as long as short
Hotstuff SOL-PERPlong	−0.0080%	1h	116.23	long leg	$1K	$8K	25x
Derive SOL-PERP	−0.0075%	1h	116.00	−0.196%	$1.8M	$3.0M	13x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.36	+0.115%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0044%	1h	116.17	−0.050%	—	$644K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.24	+0.012%	$42K	—	150x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	116.23	+0.007%	$1.4M	$19.3M	3.1x
Perpl SOL	0.0000%	43m	116.20	−0.020%	$99K	$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	+0.0005%	1h	116.16	−0.057%	$4.3M	$23.5M	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.22	−0.005%	$479.5M	$456.3M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.27	+0.038%	$7.8M	$399.3M	50x	as long as short
Aster SOLUSDT	+0.0049%	8h	116.22	−0.005%	$177.2M	$168.8M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0055%	1h	116.29	+0.057%	$26.4M	$21.6M	50x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.26	+0.029%	$100K	$182K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	116.24	+0.011%	$1.0M	$6.1M	100x	as long as short
SoDEX SOL-USD	+0.0074%	1h	116.24	+0.012%	$6.1M	$11.0M	20x	as long as short
Lighter RH SOL	+0.0080%	1h	116.23	0.000%	$2.2M	$16.8M	25x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.21	−0.016%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.23	+0.003%	$13.1M	$60.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.23	+0.003%	$351K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.15	−0.065%	$64K	$912K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.17	−0.044%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.28	+0.046%	$696.0M	$408.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.20	−0.020%	$15.6M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.25	+0.021%	$961.2M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.24	+0.012%	$366.0M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.01	−0.186%	$224K	$844K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.22	−0.003%	$924K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.21	−0.015%	$125.5M	$25.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.21	−0.014%	$843.1M	$668.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.23	+0.003%	$371.0M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.21	−0.014%	$129.2M	$236.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.21	−0.011%	—	$374.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.15	−0.065%	$22.8M	$35.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.97	−0.216%	$24.8M	$107.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.98	−0.215%	$93.1M	$406.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.00	−0.193%	$47.5M	$29.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.07	−0.134%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.07	−0.134%	$1.3M	$11.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.22	−0.005%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.23	0.000%	$282K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.21	−0.011%	$26K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.23	+0.003%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.21	−0.011%	$224.9M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.22	−0.005%	$45.2M	$104.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.19	−0.027%	$8.2M	$37.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.22	−0.003%	—	$236.1M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.17	−0.048%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.19	−0.029%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.24	+0.012%	$52.2M	$65.4M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.15	−0.066%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0458%	1h	116.19	−0.033%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.27	+0.041%	$2.1M	$4.8M	20x	as long as short