Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h +0.039%

Price spread now: GMX against Kalshi+0.013%7-day average +0.047% · you sell dearer than you buy

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

Long on Kalshi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.147%+$15 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now +0.013%, 7d avg +0.047%

Together, before fees+0.143%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.034% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.047%). If the spread goes back, that is −$3 on $10k: about 34 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	119.04	0	get 0.0000% / 8h	3h 26m	$1.2M	$20.1M	3.1x
Short	GMX SOL/USD [SOL-USDC]	119.06	L +0.0165% / S −0.0081%	get 0.0010% / 1h	26m 35s	$3.7M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.013%Rate

Funding earned: $16.93
Price spread: +0.013% → +0.047%: −$3.43
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$8.5
Costs to cover: 0.220%
Break-even: 10.5 days

Slippage unknown: Kalshi: live order book, 2 min ago; GMX: no order-book sample. 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 Kalshi live order book, 2 min ago	1.93 bp	8.0 bp −$8	12.1 bp −$121	19.1 bp −$1,907	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Hotstuff SOL-PERP	−0.0080%	1h	119.03	−0.012%	$844	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	119.10	+0.052%	—	$608K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.96	−0.073%	$2.0M	$2.7M	13x	as long as short
Bluefin SOL-PERP	−0.0056%	1h	119.06	+0.012%	$37K	$17K	25x	as long as short
dYdX SOL-USD	−0.0020%	1h	119.14	+0.081%	$5.0M	$25.7M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.05	+0.008%	$32.4M	$96.5M	100x	as long as short
HTX SOL-USDT	−0.0005%	8h	119.00	−0.033%	$231.5M	$43.9M	75x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.06	+0.012%	$55K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	119.04	long leg	$1.2M	$20.1M	3.1x
Perpl SOL	0.0000%	43m	119.06	+0.013%	$154K	$3.8M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0032%	1h	119.19	+0.123%	$104K	$159K	20x	as long as short
Hibachi SOL/USDT-P	+0.0032%	1h	119.09	+0.037%	$101K	$657K	20x	as long as short
Phemex SOLUSDT	+0.0046%	8h	119.07	+0.023%	$46.6M	$99.9M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.16	+0.098%	—	$10.5M	—	as long as short
Orderly PERP_SOL_USDC	+0.0082%	8h	119.05	+0.004%	$1.0M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.08	+0.032%	$8.1M	$410.3M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.13	+0.076%	$14.2M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.11	+0.059%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.05	+0.008%	$349K	$249K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.20	+0.132%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.16	+0.098%	$45K	$782K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.14	+0.086%	$5.9M	$40.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.23	+0.157%	$723.0M	$399.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.17	+0.107%	$179.8M	$176.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.20	+0.131%	$12.2M	$124.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.19	+0.123%	$981.4M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.22	+0.148%	$825.7M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.17	+0.107%	$371.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.03	−0.011%	$233K	$834K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.12	+0.066%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.07	+0.023%	$136.4M	$9.7M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	119.14	+0.081%	$854.7M	$666.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.15	+0.090%	$432.6M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.13	+0.070%	$138.5M	$202.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.19	+0.121%	$494.7M	$440.9M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.07	+0.023%	$24.2M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.98	−0.056%	$27.0M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.93	−0.098%	$95.5M	$401.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.95	−0.078%	$48.7M	$29.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.93	−0.095%	$1.5M	$6.1M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.06	+0.014%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.07	+0.023%	$358K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.07	+0.019%	$201K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.97	−0.062%	$193K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.04	−0.003%	$6.3M	$10.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.17	+0.103%	$8.6M	$35.0M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.19	+0.123%	$6.6M	$13.6M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0118%	1h	119.10	+0.047%	$26.7M	$24.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.11	+0.054%	—	$219.2M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.18	+0.112%	$1.8M	$4.5M	20x	as long as short
GMX SOL/USD [SOL-USDC]short	L +0.0165% / S −0.0081%	1h	119.06	+0.013%	$3.7M	—	200x
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.028%	$4K	$2K	12x	as long as short
Aftermath Perps SOLUSD	+0.0176%	1h	119.02	−0.018%	$25K	$50K	20x	as long as short
Reya SOLRUSDPERP	+0.0186%	1h	119.06	+0.013%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.05	+0.006%	$51.9M	$76.3M	125x	as long as short