Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0251%/8h= −27.5% APRpaid last 24h +0.182%

Price spread now: Injective against GRVT−0.478%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Injective is 0.478% cheaper against GRVT than usual: you would sell low and buy high (−$48 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% 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	GRVT SOL_USDT_Perp	119.72	0.0100	pay 0.0100% / 8h	2h 16m	$49.0M	$33.3M	20x
Short	Injective SOL/USDC PERP	119.15	−0.0151	pay 0.0019% / 1h	16m 11s	$4K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −0.478%Rate

Funding earned: −$52.78
Price spread: −0.478% → 0.000%: −$47.8
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$109.6
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 3 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 GRVT live order book, 3 min ago	0.42 bp	4.9 bp −$5	5.3 bp −$53	10.8 bp −$1,075	doesn't fit
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
Injective SOL/USDC PERPshort	−0.0151%	1h	119.15	−0.478%	$4K	$2K	12x
Hotstuff SOL-PERP	−0.0080%	1h	119.49	−0.192%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0073%	1h	119.45	−0.228%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.41	−0.258%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.57	−0.125%	$5.0M	$27.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.45	−0.223%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.50	−0.184%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.47	−0.208%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.52	−0.173%	$26.8M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0027%	1h	119.62	−0.086%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0051%	8h	119.44	−0.232%	$232.7M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.51	−0.180%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.66	−0.049%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.52	−0.169%	$105K	$152K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.44	−0.237%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0091%	8h	119.45	−0.227%	$872.2M	$687.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.45	−0.224%	$13.6M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.45	−0.228%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.47	−0.208%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.48	−0.205%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.51	−0.177%	$49K	$784K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.52	−0.169%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.54	−0.151%	$721.8M	$414.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.46	−0.219%	$179.9M	$175.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.54	−0.155%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.46	−0.219%	$979.3M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.47	−0.208%	$826.2M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.44	−0.236%	$371.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.48	−0.202%	$235K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.56	−0.136%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	−0.054%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.47	−0.211%	$430.9M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.46	−0.217%	$141.1M	$197.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.43	−0.242%	$499.0M	$452.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.45	−0.227%	$24.3M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.82	+0.080%	$27.5M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.86	+0.115%	$96.3M	$401.8M	75x	as long as short
GRVT SOL_USDT_Perplong	+0.0100%	8h	119.72	long leg	$49.0M	$33.3M	20x
ApeX Omni SOLUSDT	+0.0100%	1h	119.75	+0.019%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.80	+0.065%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.46	−0.219%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.45	−0.228%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.49	−0.191%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.45	−0.231%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.45	−0.227%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.49	−0.194%	$46.7M	$101.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.44	−0.236%	$8.8M	$36.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.50	−0.186%	$8.2M	$417.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.50	−0.187%	—	$221.2M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.75	+0.023%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.45	−0.227%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.53	−0.163%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.44	−0.239%	$1.1M	$562K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.57	−0.127%	$51.7M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.49	−0.192%	$35.6M	$91.2M	100x	as long as short