Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h −0.001%

Price spread now: SoDEX against Katana Perps−0.051%7-day average −0.003% · you buy dearer than you sell

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

Long on Katana Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.163%−$16 · spread now −0.051%, 7d avg −0.003%

Together, before fees−0.172%−$17 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: SoDEX is 0.048% cheaper against Katana Perps than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.61	0.0098	pay 0.0098% / 8h	4h 39m	$50K	$866K	20x
Short	SoDEX SOL-USD	116.55	0.0100	get 0.0013% / 1h	39m 44s	$6.0M	$10.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0.33
Price spread: −0.051% → −0.003%: −$4.8
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$16.27
Costs to cover: 0.118%
Break-even: 354.7 days

Slippage unknown: Katana Perps: no order-book sample; SoDEX: live order book, 4 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 Katana Perps no order-book sample	—	—	—	—	—
Sell SoDEX live order book, 4 min ago	0.43 bp	4.4 bp −$4	4.7 bp −$47	13.3 bp −$1,325	doesn't fit

Katana 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
Vest SOL-PERP	−0.0091%	1h	116.57	−0.032%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.67	+0.050%	$912	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0064%	1h	116.51	−0.082%	$103K	$700K	20x	as long as short
Derive SOL-PERP	−0.0016%	1h	116.52	−0.081%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.58	−0.026%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.58	−0.022%	$1.4M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.56	−0.044%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.68	+0.060%	$99K	$169K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.57	−0.031%	$7.5M	$404.4M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.51	−0.088%	$31.0M	$100.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0091%	8h	116.59	−0.018%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.57	−0.033%	$13.1M	$59.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.56	−0.040%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.60	−0.004%	$343K	$240K	20x	as long as short
Katana Perps SOL-USDlong	+0.0098%	8h	116.61	long leg	$50K	$866K	20x
Paradex SOL-USD-PERP	+0.0100%	8h	116.73	+0.106%	$989K	$534K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.65	+0.035%	$5.4M	$39.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.62	+0.009%	$705.5M	$394.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.54	−0.060%	$175.1M	$182.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.71	+0.083%	$15.7M	$129.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.56	−0.040%	$964.7M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.51	−0.085%	$785.3M	$1.34B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.51	−0.086%	$367.3M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.58	−0.026%	$230K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.56	−0.045%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.65	+0.034%	$133.5M	$20.6M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.53	−0.069%	$844.4M	$657.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.55	−0.051%	$417.6M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.53	−0.068%	$126.6M	$217.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.53	−0.066%	$478.9M	$441.8M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.50	−0.097%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.50	−0.094%	$23.5M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.43	−0.151%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.67	+0.049%	$93.7M	$396.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.62	+0.009%	$47.7M	$29.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.67	+0.055%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.53	−0.069%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.63	+0.017%	$321K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.61	+0.001%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.58	−0.029%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.67	+0.051%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USDshort	+0.0100%	1h	116.55	−0.051%	$6.0M	$10.8M	20x
HTX SOL-USDT	+0.0100%	8h	116.53	−0.070%	$226.1M	$46.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.58	−0.026%	$45.6M	$101.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.50	−0.096%	$7.9M	$36.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.69	+0.064%	—	$228.5M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0131%	1h	116.63	+0.021%	$26.3M	$25.3M	50x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	−0.043%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.52	−0.077%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.59	−0.015%	$1.1M	$539K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.57	−0.034%	$51.7M	$72.0M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.62	+0.010%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.66	+0.041%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0521%	1h	116.68	+0.057%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.74	+0.109%	$1.9M	$4.9M	20x	as long as short