Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.024%

Price spread now: Hotstuff against Kalshi+0.026%7-day average — · you sell dearer than you buy

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

Long on Kalshi Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 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 pays, funding is against you. Hotstuff is 0.026% dearer against Kalshi than usual: you sell high and buy low (spread +0.026% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	119.24	0	get 0.0000% / 8h	6h 06m	$1.2M	$20.7M	3.1x
Short	Hotstuff SOL-PERP	119.27	−0.0080	pay 0.0010% / 1h	6m 47s	$846	$8K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$16.8
Price spread: +0.026% → 0.000%: $2.6
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$29.2
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 2 min ago; Hotstuff: 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	1.22 bp	9.9 bp −$10	12.3 bp −$123	19.8 bp −$1,980	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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
Injective SOL/USDC PERP	−0.0151%	1h	119.41	+0.146%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERPshort	−0.0080%	1h	119.27	+0.026%	$846	$8K	25x
Vest SOL-PERP	−0.0071%	1h	119.20	−0.028%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.14	−0.081%	$2.0M	$3.1M	13x	as long as short
dYdX SOL-USD	−0.0007%	1h	119.19	−0.040%	$4.9M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.24	+0.007%	$54K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	119.24	long leg	$1.2M	$20.7M	3.1x
Perpl SOL	0.0000%	43m	119.28	+0.034%	$178K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.24	+0.003%	$26.7M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0041%	1h	119.40	+0.135%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0056%	8h	119.19	−0.039%	$232.2M	$44.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.23	−0.002%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.30	+0.053%	$120K	$633K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.29	+0.045%	$104K	$152K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.16	−0.064%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.18	−0.047%	$870.4M	$689.3M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.18	−0.049%	$13.6M	$55.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.15	−0.070%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.21	−0.018%	$354K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.24	+0.007%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.27	+0.029%	$49K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.25	+0.010%	$6.3M	$42.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.29	+0.045%	$719.7M	$413.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.18	−0.047%	$178.8M	$176.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.31	+0.061%	$12.4M	$115.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.16	−0.061%	$976.6M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.18	−0.049%	$824.1M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.14	−0.081%	$371.3M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.18	−0.047%	$234K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.31	+0.065%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.25	+0.012%	$133.7M	$10.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.18	−0.047%	$448.4M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.19	−0.035%	$140.3M	$198.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.19	−0.043%	$497.2M	$453.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.16	−0.064%	$24.3M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.41	+0.148%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.32	+0.067%	$95.8M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.29	+0.049%	$48.8M	$33.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.29	+0.045%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.30	+0.054%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.24	+0.003%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.22	−0.016%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.25	+0.010%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.20	−0.026%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.16	−0.064%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.20	−0.030%	$46.6M	$101.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.16	−0.064%	$8.7M	$36.6M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.19	−0.034%	$8.2M	$416.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.29	+0.047%	—	$221.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.34	+0.087%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.24	+0.001%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.29	+0.046%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.23	−0.002%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.15	−0.072%	$52.0M	$86.7M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.17	−0.053%	$35.4M	$91.3M	100x	as long as short