Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0289%/8h= +31.7% APRpaid last 24h +0.175%

Price spread now: Injective against Bybit+0.060%88s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Injective is 0.060% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.116% in total (about 6.1% a year). A funding rate is set anew for every payment. 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	Bybit SOLUSDT	116.55	−0.0113	get 0.0113% / 8h	1h 03m	$738.3M	$1.43B	100x
Short	Injective SOL/USDC PERP	116.62	0.0176	get 0.0022% / 1h	3m 54s	$4K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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 BybitbpFee InjectivebpOrdersPrice spread, now +0.060%Rate

Funding earned: $60.73
Price spread: +0.060% → 0.000%: $6.01
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $55.72
Costs to cover: 0.110%
Break-even: 0.6 days

Slippage unknown: Bybit: live order book, 5 min ago; Injective: 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 Bybit live order book, 5 min ago	0.43 bp	5.9 bp −$6	6.5 bp −$65	10.4 bp −$1,042	22.9 bp −$11.4K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0208%	1h	116.77	+0.188%	$97K	$678K	20x	as long as short
Bybit SOLUSDTlong	−0.0113%	8h	116.55	long leg	$738.3M	$1.43B	100x
Hotstuff SOL-PERP	−0.0080%	1h	116.75	+0.175%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.60	+0.042%	$32.3M	$106.1M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.51	−0.036%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0047%	1h	116.58	+0.024%	—	$634K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.61	+0.048%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.65	+0.084%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.64	+0.077%	$106K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0016%	1h	116.64	+0.074%	$4.3M	$23.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0037%	8h	116.56	+0.006%	$480.6M	$459.2M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.62	+0.060%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.60	+0.039%	$8.0M	$402.4M	50x	as long as short
Lighter RH SOL	+0.0056%	1h	116.55	+0.003%	$2.2M	$17.0M	25x	as long as short
SoDEX SOL-USD	+0.0071%	1h	116.57	+0.017%	$6.1M	$11.0M	20x	as long as short
Aster SOLUSDT	+0.0074%	8h	116.56	+0.009%	$176.5M	$169.5M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0082%	8h	116.57	+0.014%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.62	+0.059%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.58	+0.022%	$13.2M	$61.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.56	+0.008%	$351K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.57	+0.017%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.56	+0.009%	$5.3M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.69	+0.120%	$701.4M	$408.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.67	+0.101%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.56	+0.009%	$966.0M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.58	+0.026%	$367.5M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.64	+0.077%	$217K	$837K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.61	+0.047%	$899K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	0.000%	$125.4M	$26.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.58	+0.026%	$849.5M	$676.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.57	+0.017%	$369.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.57	+0.015%	$133.0M	$233.0M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.56	+0.004%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.59	+0.034%	$23.1M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.69	+0.124%	$25.1M	$110.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.57	+0.015%	$93.6M	$408.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.63	+0.068%	$47.7M	$29.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.65	+0.086%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.64	+0.077%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.57	+0.017%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.58	+0.024%	$242K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.60	+0.046%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.58	+0.027%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.62	+0.058%	$225.8M	$50.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.62	+0.060%	$45.4M	$104.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.53	−0.020%	$8.0M	$38.0M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0104%	1h	116.65	+0.084%	$26.4M	$21.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.64	+0.078%	—	$233.7M	500x	as long as short
Injective SOL/USDC PERPshort	+0.0176%	1h	116.62	+0.060%	$4K	$2K	12x
Phoenix SOL	+0.0178%	1h	116.73	+0.154%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.54	−0.007%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.63	+0.069%	$52.1M	$66.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.60	+0.040%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.65	+0.089%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0488%	1h	116.66	+0.098%	$25K	$57K	20x	as long as short