Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Katana Perps against Ondo Perps+0.009%7-day average −0.042% · you sell dearer than you buy

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

Long on Ondo Perps Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 7 days+0.121%+$12 · spread now +0.009%, 7d avg −0.042%

Together, before fees+0.119%+ Points / potential airdropOndo Perps: 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: Katana Perps is 0.050% dearer against Ondo Perps than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps SOL-USD.P	116.29	0.0100	pay 0.0013% / 1h	22m 34s	$229K	$835K	10x
Short	Katana Perps SOL-USD	116.30	0.0099	get 0.0099% / 8h	3h 22m	$61K	$896K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Ondo 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 Ondo PerpsbpFee Katana PerpsbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$0.19
Price spread: +0.009% → −0.042%: $5.03
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$3.96
Costs to cover: 0.088%
Break-even: never at this rate

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

Ondo Perps and 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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.46	+0.143%	$30.9M	$101.2M	100x	as long as short
Hibachi SOL/USDT-P	−0.0192%	1h	116.46	+0.144%	$104K	$703K	20x	as long as short
Vest SOL-PERP	−0.0099%	1h	116.38	+0.074%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.36	+0.056%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0024%	8h	116.37	+0.069%	$755.4M	$1.39B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.49	+0.172%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.52	+0.195%	$1.4M	$19.0M	3.1x	as long as short
dYdX SOL-USD	+0.0014%	1h	116.37	+0.068%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0032%	1h	116.41	+0.106%	$1.9M	$2.9M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.47	+0.156%	$7.6M	$404.5M	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	116.36	+0.060%	$99K	$174K	20x	as long as short
Bullet SOL-USD	+0.0077%	1h	116.47	+0.153%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.49	+0.175%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.35	+0.052%	$13.1M	$60.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.33	+0.034%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.48	+0.167%	$350K	$247K	20x	as long as short
Bitget SOLUSDT	+0.0097%	8h	116.30	+0.009%	$480.0M	$445.5M	100x	as long as short
Katana Perps SOL-USDshort	+0.0099%	8h	116.30	+0.009%	$61K	$896K	20x
Paradex SOL-USD-PERP	+0.0100%	8h	116.36	+0.062%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.35	+0.050%	$5.4M	$40.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.47	+0.155%	$701.9M	$394.8M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.38	+0.074%	$174.3M	$183.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.38	+0.076%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.43	+0.124%	$971.4M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.44	+0.129%	$366.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.Plong	+0.0100%	1h	116.29	long leg	$229K	$835K	10x
Arcus SOL-USD	+0.0100%	1h	116.35	+0.055%	$920K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	+0.140%	$133.0M	$16.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.34	+0.043%	$850.7M	$664.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.33	+0.034%	$363.5M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.39	+0.089%	$129.0M	$223.4M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.30	+0.008%	—	$365.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.45	+0.138%	$23.0M	$40.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.40	+0.098%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.61	+0.278%	$93.6M	$400.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.45	+0.138%	$47.6M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.64	+0.301%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.51	+0.189%	$1.3M	$12.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.46	+0.146%	$320K	$2.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.48	+0.166%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.47	+0.156%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.46	+0.146%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.45	+0.140%	$225.7M	$48.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.50	+0.181%	$45.5M	$103.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.27	−0.019%	$8.2M	$37.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.353%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.49	+0.168%	—	$231.7M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.64	+0.301%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0161%	1h	116.54	+0.217%	$26.3M	$23.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.46	+0.143%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.45	+0.138%	$51.9M	$67.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.48	+0.165%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.50	+0.181%	$138K	$3.7M	8.3x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.39	+0.084%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0568%	1h	116.63	+0.295%	$25K	$51K	20x	as long as short