Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Katana Perps−0.043%7-day average +0.046% · you buy dearer than you sell

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

Long on Katana Perps Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days+0.034%+$3 · spread now −0.043%, 7d avg +0.046%

Together, before fees+0.038%+ Points / potential airdropOndo Perps: Active · farm board+$4 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: Ondo Perps is 0.089% cheaper against Katana Perps than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.66	0.0099	pay 0.0099% / 8h	1h 49m	$64K	$910K	20x
Short	Ondo Perps SOL-USD.P	116.61	0.0100	get 0.0013% / 1h	49m 45s	$217K	$887K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Katana Perps. 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 Katana PerpsbpFee Ondo PerpsbpOrdersPrice spread, now −0.043%Rate

Funding earned: $0.13
Price spread: −0.043% → +0.046%: −$8.85
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.52
Costs to cover: 0.088%
Break-even: 964.5 days

Slippage unknown: Katana Perps: no order-book sample; Ondo Perps: 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

Katana Perps and Ondo Perps: 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
Bybit SOLUSDT	−0.0108%	8h	116.48	−0.151%	$740.2M	$1.44B	100x	as long as short
Hibachi SOL/USDT-P	−0.0088%	1h	116.56	−0.086%	$98K	$689K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.54	−0.106%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.69	+0.028%	$32.9M	$103.9M	100x	as long as short
Derive SOL-PERP	−0.0048%	1h	116.59	−0.057%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0017%	1h	116.65	−0.013%	—	$625K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.69	+0.026%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.72	+0.049%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.67	+0.009%	$109K	$3.6M	8.3x	as long as short
dYdX SOL-USD	+0.0010%	1h	116.60	−0.051%	$4.3M	$23.8M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0016%	1h	116.50	−0.135%	$2.2M	$16.7M	25x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.72	+0.051%	$100K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.70	+0.034%	$8.0M	$405.6M	50x	as long as short
Bitget SOLUSDT	+0.0053%	8h	116.53	−0.107%	$480.4M	$462.4M	100x	as long as short
SoDEX SOL-USD	+0.0074%	1h	116.65	−0.009%	$6.1M	$10.9M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.66	−0.003%	$1.0M	$6.0M	100x	as long as short
Aster SOLUSDT	+0.0093%	8h	116.52	−0.116%	$175.7M	$176.5M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.52	−0.118%	$13.1M	$60.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.66	−0.002%	$351K	$247K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.52	−0.116%	$1.0M	$551K	50x	as long as short
Katana Perps SOL-USDlong	+0.0099%	8h	116.66	long leg	$64K	$910K	20x
Nado SOL-PERP	+0.0100%	1h	116.48	−0.156%	$5.5M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.65	−0.009%	$698.0M	$409.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.58	−0.070%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.51	−0.129%	$968.0M	$3.91B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.51	−0.129%	$371.0M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.Pshort	+0.0100%	1h	116.61	−0.043%	$217K	$887K	10x
Arcus SOL-USD	+0.0100%	1h	116.70	+0.036%	$904K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.094%	$125.4M	$23.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.54	−0.103%	$842.5M	$664.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.51	−0.129%	$362.1M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.58	−0.070%	$129.0M	$232.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.54	−0.101%	—	$373.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.65	−0.009%	$23.1M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.55	−0.098%	$24.8M	$112.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.66	−0.004%	$93.7M	$410.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.70	+0.033%	$47.7M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.72	+0.056%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.59	−0.060%	$1.3M	$12.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.68	+0.017%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.70	+0.037%	$234K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.67	+0.013%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.70	+0.031%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.68	+0.018%	$226.0M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.68	+0.017%	$45.4M	$105.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.53	−0.114%	$8.0M	$39.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.64	−0.014%	—	$235.6M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0159%	1h	116.73	+0.058%	$26.5M	$21.9M	50x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	117.09	+0.369%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.75	+0.077%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.66	−0.003%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.60	−0.051%	$52.3M	$68.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.69	+0.028%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.77	+0.093%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0498%	1h	116.76	+0.083%	$25K	$56K	20x	as long as short