Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h +0.001%

Price spread now: Kraken Futures against Orderly−0.015%7-day average −0.009% · you buy dearer than you sell

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

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.015%, 7d avg −0.009%

Together, before fees+0.106%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.123%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SOL_USDC	116.60	0.0091	pay 0.0091% / 8h	4h 19m	$1.0M	$5.8M	100x
Short	Kraken Futures PF_SOLUSD	116.59	0.0075	get 0.0009% / 1h	19m 23s	$31.0M	$100.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Orderly. 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 OrderlybpFee Kraken FuturesbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$3.35
Price spread: −0.015% → −0.009%: −$0.6
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$19.95
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 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 Orderly no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 5 min ago	2.57 bp	8.5 bp −$9	10.5 bp −$105	13.8 bp −$1,377	23.8 bp −$11.9K

Orderly: 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
Hibachi SOL/USDT-P	−0.0136%	1h	116.61	+0.002%	$103K	$701K	20x	as long as short
Vest SOL-PERP	−0.0097%	1h	116.55	−0.043%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.60	−0.003%	$912	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.60	−0.003%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.62	+0.013%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.63	+0.023%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0031%	1h	116.53	−0.060%	$1.9M	$2.9M	13x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	116.61	+0.006%	$99K	$172K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.59	−0.011%	$7.4M	$404.4M	50x	as long as short
Kraken Futures PF_SOLUSDshort	+0.0075%	1h	116.59	−0.015%	$31.0M	$100.1M	100x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDClong	+0.0091%	8h	116.60	long leg	$1.0M	$5.8M	100x
Lighter SOL	+0.0096%	1h	116.58	−0.021%	$13.0M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.57	−0.032%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.59	−0.009%	$347K	$244K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0098%	1h	116.64	+0.030%	$26.3M	$25.3M	50x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.57	−0.028%	$51K	$866K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.64	+0.031%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.55	−0.041%	$5.3M	$39.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.69	+0.075%	$704.4M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.58	−0.020%	$174.7M	$182.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.60	+0.001%	$15.7M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.59	−0.007%	$969.2M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.53	−0.061%	$781.5M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.59	−0.011%	$369.0M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.74	+0.117%	$231K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.62	+0.014%	$926K	$9.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.58	−0.020%	$841.0M	$663.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.60	−0.003%	$386.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.59	−0.011%	$128.2M	$219.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.56	−0.039%	$478.8M	$441.1M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.57	−0.027%	—	$365.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.57	−0.028%	$23.4M	$38.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.50	−0.085%	$24.4M	$113.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.67	+0.062%	$93.7M	$398.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.70	+0.084%	$47.7M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.63	+0.022%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.61	+0.006%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.58	−0.020%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.58	−0.022%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.58	−0.017%	$25K	$30K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.59	−0.009%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.59	−0.011%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.54	−0.052%	$226.2M	$47.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.58	−0.020%	$45.7M	$102.1M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	+0.083%	$133.2M	$21.0M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.54	−0.054%	$8.2M	$37.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.61	+0.002%	—	$231.0M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.73	+0.109%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.77	+0.143%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.55	−0.045%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.62	+0.015%	$51.7M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0171%	1h	116.59	−0.009%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.61	+0.002%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0531%	1h	116.67	+0.060%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.67	+0.058%	$1.9M	$4.9M	20x	as long as short