Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h −0.013%

Price spread now: dYdX against Kalshi−0.021%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

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

costs, in and out, $10k−$280.283% of the position

Long on Kalshi Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 7 days−0.015%−$1 · spread now −0.021%, 7d avg −0.034%

Together, before fees−0.122%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.108%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	116.57	0	get 0.0000% / 8h	6h 50m	$1.4M	$19.1M	3.1x
Short	dYdX SOL-USD	116.55	0.0022	get 0.0003% / 1h	50m 05s	$4.4M	$24.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $4.55
Price spread: −0.021% → −0.034%: $1.28
Slippage, 4 orders: −$8.32
Fee Kalshi: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$22.5
Costs to cover: 0.283%
Break-even: 41.6 days

Slippage from Kalshi: live order book, 4 min ago; dYdX: 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	1.55 bp	7.7 bp −$8	10.8 bp −$108	17.6 bp −$1,759	doesn't fit
Sell dYdX live order book, 4 min ago	0.43 bp	7.2 bp −$7	26.3 bp −$263	75.9 bp −$7,588	195.5 bp −$97.8K

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
Hibachi SOL/USDT-P	−0.0240%	1h	116.54	−0.029%	$105K	$705K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0240%	1h	116.41	−0.141%	$31.6M	$103.2M	100x	as long as short
Vest SOL-PERP	−0.0126%	1h	116.50	−0.061%	—	$601K	20x	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.36	−0.184%	$744.5M	$1.41B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.56	−0.016%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0051%	1h	116.36	−0.183%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.46	−0.098%	$42K	—	150x	as long as short
01 Exchange SOLUSD	0.0000%	1h	116.57	−0.003%	$99K	$175K	20x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.57	long leg	$1.4M	$19.1M	3.1x
dYdX SOL-USDshort	+0.0022%	1h	116.55	−0.021%	$4.4M	$24.2M	20x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0035%	1h	116.45	−0.106%	$147K	$1.6M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.42	−0.135%	$7.8M	$405.3M	50x	as long as short
Bitget SOLUSDT	+0.0077%	8h	116.37	−0.177%	$480.6M	$449.5M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	116.44	−0.112%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.41	−0.142%	$13.0M	$60.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.40	−0.147%	$2.2M	$16.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.44	−0.116%	$350K	$247K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0096%	1h	116.49	−0.068%	$26.3M	$22.9M	50x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.50	−0.063%	$60K	$899K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.58	+0.008%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.53	−0.035%	$5.3M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.49	−0.072%	$699.1M	$393.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.39	−0.159%	$174.4M	$183.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.58	+0.008%	$15.8M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.40	−0.149%	$970.1M	$3.85B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.40	−0.149%	$366.4M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.47	−0.089%	$212K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.60	+0.019%	$917K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.106%	$130.4M	$16.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.42	−0.132%	$850.3M	$658.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.41	−0.141%	$363.9M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.40	−0.148%	$124.0M	$227.4M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.42	−0.135%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.40	−0.149%	$23.0M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.47	−0.085%	$25.1M	$114.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.35	−0.194%	$93.4M	$402.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.47	−0.086%	$47.6M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.41	−0.141%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.52	−0.046%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.54	−0.029%	$320K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.44	−0.111%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.43	−0.122%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.41	−0.141%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.52	−0.042%	$225.8M	$48.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.45	−0.106%	$45.4M	$103.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.38	−0.169%	$8.1M	$38.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.55	−0.017%	—	$237.2M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.50	−0.063%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.45	−0.106%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.49	−0.072%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.53	−0.038%	$51.9M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.47	−0.089%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.56	−0.012%	$112K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.63	+0.048%	$1.9M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0570%	1h	116.51	−0.055%	$25K	$52K	20x	as long as short