Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%

Price spread now: SoDEX against Kalshi−0.051%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now −0.051%, 7d avg −0.004%

Together, before fees−0.011%−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.046% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of −0.004%). If the spread goes back, that is −$5 on $10k: about 37 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	116.68	0	get 0.0000% / 8h	7h 18m	$1.4M	$19.1M	3.1x
Short	SoDEX SOL-USD	116.62	0.0100	get 0.0013% / 1h	18m 33s	$6.1M	$10.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $21
Price spread: −0.051% → −0.004%: −$4.62
Slippage, 4 orders: −$5.73
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$7.35
Costs to cover: 0.237%
Break-even: 9.4 days

Slippage from Kalshi: live order book, 5 min ago; SoDEX: live order book, 1 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, 5 min ago	1.54 bp	8.0 bp −$8	12.5 bp −$125	19.4 bp −$1,938	doesn't fit
Sell SoDEX live order book, 1 min ago	0.43 bp	4.4 bp −$4	5.3 bp −$53	14.8 bp −$1,483	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
Hibachi SOL/USDT-P	−0.0200%	1h	116.61	−0.057%	$105K	$703K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.66	−0.021%	$31.2M	$101.8M	100x	as long as short
Vest SOL-PERP	−0.0104%	1h	116.56	−0.098%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.65	−0.025%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0040%	8h	116.52	−0.136%	$754.1M	$1.39B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.53	−0.128%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.66	−0.016%	$42K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.68	long leg	$1.4M	$19.1M	3.1x
dYdX SOL-USD	+0.0013%	1h	116.59	−0.076%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.66	−0.020%	$7.6M	$405.7M	50x	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	+0.0064%	1h	116.60	−0.068%	$99K	$175K	20x	as long as short
Bullet SOL-USD	+0.0066%	1h	116.63	−0.042%	$146K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.61	−0.059%	$1.0M	$5.9M	100x	as long as short
Bitget SOLUSDT	+0.0095%	8h	116.63	−0.040%	$481.3M	$446.1M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.61	−0.063%	$13.1M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.59	−0.077%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.62	−0.051%	$351K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.54	−0.119%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.60	−0.064%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.57	−0.094%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.72	+0.035%	$703.3M	$395.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.57	−0.091%	$174.6M	$183.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.64	−0.037%	$15.8M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.57	−0.093%	$972.4M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.62	−0.051%	$367.9M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.59	−0.076%	$228K	$838K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.61	−0.057%	$919K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.194%	$133.0M	$16.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.60	−0.068%	$855.1M	$666.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.65	−0.025%	$366.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.61	−0.056%	$129.0M	$223.7M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.56	−0.099%	—	$364.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.65	−0.025%	$23.0M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.56	−0.098%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.57	−0.097%	$93.6M	$401.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.60	−0.067%	$47.7M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.69	+0.009%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.60	−0.068%	$1.3M	$12.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.62	−0.051%	$320K	$2.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.60	−0.065%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.56	−0.100%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USDshort	+0.0100%	1h	116.62	−0.051%	$6.1M	$10.8M	20x
HTX SOL-USDT	+0.0100%	8h	116.65	−0.029%	$226.1M	$48.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.65	−0.025%	$45.4M	$103.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.52	−0.133%	$8.2M	$37.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.018%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.70	+0.021%	—	$235.7M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.58	−0.085%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0175%	1h	116.68	+0.001%	$26.3M	$23.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.60	−0.071%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.58	−0.085%	$51.9M	$67.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.59	−0.073%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.60	−0.065%	$137K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.66	−0.013%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0568%	1h	116.68	+0.003%	$25K	$51K	20x	as long as short