Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.030%

Price spread now: Variational Omni against Kalshi−0.097%7-day average −0.013% · you buy dearer than you sell

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

Long on Kalshi Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.095%+$9 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.097%, 7d avg −0.013%

Together, before fees+0.122%+ Points / potential airdropVariational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.084% cheaper against Kalshi than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSOLPERP	117.36	0.0100	pay 0.0100% / 8h	1h 57m	$1.3M	$15.8M	3.1x
Short	Variational Omni SOL	117.25	0.0100	get 0.0100% / 8h	5h 57m	$25.1M	$100.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.097%Rate

Funding earned: −$0.01
Price spread: −0.097% → −0.013%: −$8.39
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.4
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. 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, 5 min ago	1.24 bp	7.7 bp −$8	12.7 bp −$127	19.2 bp −$1,918	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	1.19 bp	doesn't fit	1.2 bp −$12	10.0 bp −$998	doesn't fit

SOL on 54 exchanges

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	−0.0264%	1h	117.37	+0.005%	$100K	$647K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.44	+0.063%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0054%	8h	117.34	−0.018%	$734.1M	$1.24B	100x	as long as short
SoDEX SOL-USD	−0.0008%	1h	117.34	−0.018%	$6.1M	$11.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.35	−0.009%	$41K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.35	−0.009%	$9.3M	$17.9M	20x	as long as short
Perpl SOL	0.0000%	43m	117.35	−0.007%	$99K	$2.9M	8.3x	as long as short
Vest SOL-PERP	+0.0008%	1h	117.32	−0.037%	—	$272K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0016%	1h	117.40	+0.029%	$26.4M	$18.6M	50x	as long as short
Bitget SOLUSDT	+0.0029%	8h	117.33	−0.029%	$483.0M	$398.3M	100x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.38	+0.014%	$8.4M	$370.2M	50x	as long as short
Aster SOLUSDT	+0.0043%	8h	117.33	−0.030%	$178.0M	$155.8M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0051%	8h	117.34	−0.017%	$997K	$5.2M	100x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.34	−0.018%	$101K	$181K	20x	as long as short
Aevo SOL-PERP	+0.0080%	1h	117.28	−0.072%	$348K	$258K	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0083%	1h	117.38	+0.014%	$32.6M	$92.2M	100x	as long as short
Binance SOLUSDT	+0.0083%	8h	117.34	−0.018%	$972.0M	$3.43B	100x	as long as short
MEXC SOL_USDT	+0.0084%	8h	117.34	−0.018%	$430.2M	$910.4M	300x	as long as short
Gate SOL_USDT	+0.0092%	8h	117.32	−0.035%	$843.5M	$584.2M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.36	−0.005%	$13.2M	$54.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.34	−0.016%	$2.3M	$13.5M	25x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.37	+0.008%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.32	−0.035%	$45K	$879K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.31	−0.048%	$5.7M	$39.1M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.35	−0.013%	$15.9M	$116.2M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.32	−0.035%	$362.1M	$1.56B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.27	−0.078%	$223K	$761K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.39	+0.020%	$1.2M	$8.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.22	−0.122%	$127.1M	$14.8M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.34	−0.015%	$134.5M	$228.2M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.29	−0.062%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.36	−0.001%	$23.3M	$35.2M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	117.25	−0.097%	$25.1M	$100.0M	—
edgeX SOLUSDC	+0.0100%	4h	117.24	−0.105%	$94.1M	$381.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.35	−0.009%	$48.0M	$25.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.37	+0.006%	$1.1M	$6.5M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.29	−0.060%	$1.3M	$10.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.32	−0.035%	$324K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.36	−0.005%	$285K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.32	−0.036%	$27K	$35K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.30	−0.055%	$190K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.36	−0.004%	$227.0M	$41.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.35	−0.009%	$45.6M	$99.4M	50x	as long as short
Kalshi KXSOLPERPlong	+0.0100%	8h	117.36	long leg	$1.3M	$15.8M	3.1x
Extended SOL-USD	+0.0104%	1h	117.30	−0.055%	$8.5M	$33.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.33	−0.029%	—	$210.5M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.51	+0.127%	$6.6M	$11.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.29	−0.065%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0203%	8h	117.33	−0.026%	$51.6M	$57.3M	125x	as long as short
Injective SOL/USDC PERP	+0.0206%	1h	116.85	−0.435%	$4K	$117	12x	as long as short
Hyperliquid SOL	+0.0217%	1h	117.45	+0.076%	$723.7M	$366.4M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0171%	1h	117.35	−0.008%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0250%	1h	117.36	+0.003%	$2.2M	$4.4M	20x	as long as short
Aftermath Perps SOLUSD	+0.0385%	1h	117.38	+0.020%	$25K	$52K	20x	as long as short