SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0420%/8h= −46.0% APRnext payment −$0.53 per $10,000 · paid last 24h −0.031%

Price spread now: Kraken Futures against Phoenix−0.205%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.205%, 7d avg −0.089%

Together, before fees−0.145%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Kraken Futures is 0.117% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.089%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.201% in total (about -10.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SOL	115.93	0.0179	pay 0.0022% / 1h	31m 08s	$6.5M	$13.7M	25x
Short	Kraken Futures PF_SOLUSD	115.69	−0.0241	pay 0.0030% / 1h	31m 08s	$31.7M	$103.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phoenix. 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 PhoenixbpFee Kraken FuturesbpOrdersPrice spread, now −0.205%Rate

Funding earned: −$88.2
Price spread: −0.205% → −0.089%: −$11.68
Slippage, 4 orders: −$8.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$125.29
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from Phoenix: live order book, 3 min ago; Kraken Futures: live order book, 3 min ago.

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 Phoenix live order book, 3 min ago	0.86 bp	4.6 bp −$5	5.8 bp −$58	15.4 bp −$1,540	doesn't fit
Sell Kraken Futures live order book, 3 min ago	0.43 bp	9.3 bp −$9	11.5 bp −$115	16.1 bp −$1,611	32.7 bp −$16.3K

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_SOLUSDshort	−0.0241%	1h	115.69	−0.205%	$31.7M	$103.8M	100x
Hibachi SOL/USDT-P	−0.0192%	1h	115.84	−0.076%	$104K	$693K	20x	as long as short
Derive SOL-PERP	−0.0125%	1h	115.62	−0.270%	$1.9M	$2.9M	13x	as long as short
BingX SOL-USDT	−0.0116%	8h	115.75	−0.159%	—	$368.6M	—	as long as short
Bybit SOLUSDT	−0.0116%	8h	115.73	−0.173%	$740.1M	$1.42B	100x	as long as short
Vest SOL-PERP	−0.0097%	1h	115.75	−0.154%	—	$625K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.05	+0.106%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.72	−0.179%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.76	−0.146%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.73	−0.173%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0014%	1h	115.72	−0.180%	$4.3M	$24.1M	20x	as long as short
01 Exchange SOLUSD	+0.0016%	1h	115.77	−0.138%	$98K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.72	−0.179%	$7.8M	$402.8M	50x	as long as short
Bitget SOLUSDT	+0.0068%	8h	115.73	−0.169%	$479.8M	$455.5M	100x	as long as short
Bullet SOL-USD	+0.0087%	1h	115.71	−0.191%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	115.73	−0.176%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	115.72	−0.180%	$12.9M	$60.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	115.70	−0.198%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.72	−0.185%	$348K	$247K	20x	as long as short
Aster SOLUSDT	+0.0099%	8h	115.68	−0.212%	$173.5M	$184.4M	100x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.73	−0.173%	$62K	$911K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	115.77	−0.140%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.73	−0.176%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.82	−0.095%	$686.0M	$399.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	115.78	−0.132%	$15.5M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.75	−0.155%	$961.2M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.76	−0.147%	$360.8M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.67	−0.224%	$215K	$870K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.78	−0.131%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.84	−0.077%	$125.6M	$19.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.72	−0.181%	$838.6M	$667.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.76	−0.147%	$359.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.74	−0.164%	$124.2M	$229.3M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.75	−0.155%	$22.8M	$40.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.00	+0.058%	$24.8M	$114.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.77	−0.134%	$92.9M	$406.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.81	−0.105%	$47.4M	$30.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.81	−0.103%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.84	−0.078%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.72	−0.181%	$317K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.71	−0.190%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.76	−0.150%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.69	−0.207%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.66	−0.230%	$224.1M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	115.74	−0.164%	$45.0M	$104.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	115.65	−0.241%	$7.9M	$38.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	115.72	−0.183%	—	$239.5M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0125%	1h	115.75	−0.155%	$26.2M	$21.9M	50x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.535%	$4K	$2K	12x	as long as short
Phoenix SOLlong	+0.0179%	1h	115.93	long leg	$6.5M	$13.7M	25x
Reya SOLRUSDPERP	+0.0193%	1h	115.72	−0.184%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.69	−0.207%	$51.5M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.72	−0.183%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.81	−0.107%	$1.9M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0599%	1h	115.95	+0.017%	$25K	$53K	20x	as long as short