Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.027%

Price spread now: Coinbase International against Kalshi−0.039%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Kalshi Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.527%−$53 · spread now −0.039%, 7d avg +0.019%

Together, before fees−0.496%−$50 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.058% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.019%). If the spread goes back, that is −$6 on $10k: about 4.8 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.031% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	116.23	0	get 0.0000% / 8h	3h 25m	$1.4M	$19.2M	3.1x
Short	Coinbase International SOL-PERP-INTX	116.19	0.0040	get 0.0005% / 1h	25m 12s	$7.8M	$388.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kalshi. 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 KalshibpFee Coinbase InternationalbpOrdersPrice spread, now −0.039%Rate

Funding earned: $8.4
Price spread: −0.039% → +0.019%: −$5.8
Slippage, 4 orders: −$7.99
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25.39
Costs to cover: 0.280%
Break-even: 28.2 days

Slippage from Kalshi: live order book, 4 min ago; Coinbase International: live order book, 4 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 Kalshi live order book, 4 min ago	1.86 bp	8.3 bp −$8	12.4 bp −$124	18.8 bp −$1,880	doesn't fit
Sell Coinbase International live order book, 4 min ago	0.04 bp	6.6 bp −$7	9.1 bp −$91	18.7 bp −$1,871	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	116.32	+0.071%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	115.82	−0.352%	$1.8M	$2.9M	13x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.20	−0.030%	$32.3M	$104.0M	100x	as long as short
Bybit SOLUSDT	−0.0022%	8h	116.15	−0.072%	$728.7M	$1.38B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.17	−0.057%	$42K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.23	long leg	$1.4M	$19.2M	3.1x
Perpl SOL	0.0000%	43m	116.20	−0.025%	$99K	$3.4M	8.3x	as long as short
Vest SOL-PERP	+0.0004%	1h	116.14	−0.080%	—	$640K	20x	as long as short
dYdX SOL-USD	+0.0016%	1h	116.24	+0.005%	$7.3M	$24.2M	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.17	−0.059%	$479.8M	$439.8M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTXshort	+0.0040%	1h	116.19	−0.039%	$7.8M	$388.4M	50x
Aster SOLUSDT	+0.0050%	8h	116.18	−0.051%	$176.2M	$168.8M	100x	as long as short
Gate SOL_USDT	+0.0054%	8h	116.16	−0.064%	$840.9M	$616.2M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0063%	1h	116.23	−0.005%	$26.1M	$21.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	116.15	−0.074%	$1.0M	$5.7M	100x	as long as short
SoDEX SOL-USD	+0.0075%	1h	116.16	−0.064%	$6.0M	$11.1M	20x	as long as short
Lighter SOL	+0.0096%	1h	116.17	−0.057%	$13.1M	$56.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.16	−0.064%	$2.2M	$14.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.15	−0.071%	$350K	$248K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	116.16	−0.059%	$1.0M	$553K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.19	−0.038%	$58K	$906K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.19	−0.038%	$5.4M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.28	+0.040%	$698.1M	$408.9M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.23	0.000%	$15.6M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.18	−0.049%	$958.0M	$3.80B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.17	−0.055%	$364.8M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.17	−0.055%	$217K	$844K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.17	−0.055%	$946K	$8.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.17	−0.055%	$382.0M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.18	−0.050%	$129.5M	$236.8M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.17	−0.051%	—	$370.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.18	−0.046%	$22.8M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.98	−0.216%	$24.7M	$104.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.94	−0.255%	$93.1M	$404.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.02	−0.186%	$47.5M	$27.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.01	−0.196%	$1.1M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.05	−0.158%	$1.3M	$10.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.22	−0.012%	$318K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.17	−0.058%	$281K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.13	−0.087%	$188K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.06	−0.150%	$224.7M	$50.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.17	−0.055%	$45.2M	$103.0M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.76	−0.411%	$125.0M	$25.2M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.12	−0.097%	$8.1M	$35.6M	50x	as long as short
01 Exchange SOLUSD	+0.0104%	1h	116.25	+0.014%	$100K	$184K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.21	−0.021%	—	$227.4M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.08	−0.132%	$6.5M	$13.4M	25x	as long as short
Hibachi SOL/USDT-P	+0.0144%	1h	116.03	−0.173%	$104K	$677K	20x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	+0.091%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.11	−0.105%	$1.1M	$543K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.17	−0.055%	$52.3M	$62.0M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.17	−0.056%	$3.5M	—	200x	as long as short
Bluefin SOL-PERP	+0.0284%	1h	116.16	−0.060%	$27K	$36K	25x	as long as short
Aftermath Perps SOLUSD	+0.0404%	1h	116.11	−0.106%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.28	+0.039%	$2.2M	$4.8M	20x	as long as short