Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0157%/8h= +17.2% APRpaid last 24h +0.022%

Price spread now: Katana Perps against Kraken Futures−0.076%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 Kraken Futures Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.028%−$3 on $10k

Price spread, last 4 days (all we have)+0.596%+$60 · spread now −0.076%, 7d avg −0.003%

Together, before fees+0.568%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.073% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.003%). If the spread goes back, that is −$7 on $10k: about 37 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SOLUSD	116.41	−0.0057	get 0.0007% / 1h	42m 08s	$32.3M	$106.1M	100x
Short	Katana Perps SOL-USD	116.32	0.0100	get 0.0100% / 8h	7h 42m	$64K	$901K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Kraken Futures. 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 Kraken FuturesbpFee Katana PerpsbpOrdersPrice spread, now −0.076%Rate

Funding earned: $32.96
Price spread: −0.076% → −0.003%: −$7.31
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $11.85
Costs to cover: 0.138%
Break-even: 4.5 days

Slippage unknown: Kraken Futures: live order book, 2 min ago; Katana 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 Kraken Futures live order book, 2 min ago	0.43 bp	6.7 bp −$7	8.6 bp −$86	15.3 bp −$1,529	34.2 bp −$17.1K
Sell Katana Perps no order-book sample	—	—	—	—	—

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
Hotstuff SOL-PERP	−0.0080%	1h	116.51	+0.085%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSDlong	−0.0057%	1h	116.41	long leg	$32.3M	$106.1M	100x
Vest SOL-PERP	−0.0005%	1h	116.38	−0.022%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.40	−0.007%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.42	+0.011%	$4.3M	$23.3M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.43	+0.017%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.44	+0.026%	$99K	$3.4M	8.3x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.36	−0.042%	$1.8M	$2.9M	13x	as long as short
Phemex SOLUSDT	+0.0013%	8h	116.40	−0.007%	$45.3M	$103.5M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0015%	1h	116.44	+0.026%	$26.2M	$21.7M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0025%	8h	116.31	−0.084%	$479.9M	$452.9M	100x	as long as short
Bybit SOLUSDT	+0.0037%	8h	116.33	−0.066%	$731.3M	$1.40B	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.41	0.000%	$7.8M	$394.3M	50x	as long as short
Aster SOLUSDT	+0.0053%	8h	116.35	−0.050%	$177.1M	$169.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0069%	8h	116.38	−0.022%	$1.0M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	116.48	+0.057%	$102K	$681K	20x	as long as short
Lighter SOL	+0.0096%	1h	116.36	−0.042%	$13.1M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.35	−0.052%	$2.2M	$14.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.37	−0.031%	$351K	$255K	20x	as long as short
SoDEX SOL-USD	+0.0097%	1h	116.37	−0.033%	$6.1M	$11.0M	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.32	−0.073%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	116.32	−0.076%	$64K	$901K	20x
Nado SOL-PERP	+0.0100%	1h	116.32	−0.073%	$5.4M	$41.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.52	+0.096%	$696.2M	$407.3M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.38	−0.027%	$15.7M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.34	−0.055%	$961.9M	$3.84B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.33	−0.067%	$366.4M	$1.74B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.38	−0.024%	$219K	$844K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.37	−0.035%	$918K	$8.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.41	+0.001%	$848.1M	$609.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.34	−0.059%	$374.2M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.37	−0.032%	$129.7M	$237.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.33	−0.066%	—	$372.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.34	−0.059%	$22.9M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.47	+0.049%	$24.9M	$105.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.47	+0.051%	$93.5M	$405.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.48	+0.062%	$47.7M	$28.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.50	+0.083%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.40	−0.007%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.44	+0.027%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.41	+0.001%	$282K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.36	−0.041%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.35	−0.054%	$225.3M	$50.5M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	+0.036%	$126.0M	$25.6M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.33	−0.067%	$8.3M	$36.5M	50x	as long as short
01 Exchange SOLUSD	+0.0112%	1h	116.41	+0.001%	$102K	$182K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.40	−0.011%	—	$231.0M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.60	+0.165%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.059%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.38	−0.025%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.41	+0.001%	$52.0M	$64.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.40	−0.008%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0413%	1h	116.45	+0.037%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.42	+0.010%	$2.1M	$4.8M	20x	as long as short
Bluefin SOL-PERP	+0.0844%	1h	117.34	+0.799%	$27K	$37K	25x	as long as short