Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h −0.169%

Price spread now: Bybit against Injective−0.774%98s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.774% cheaper against Injective than usual: you would sell low and buy high (−$77 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SOL/USDC PERP	117.56	0.0137	pay 0.0017% / 1h	55m 33s	$4K	$2K	12x
Short	Bybit SOLUSDT	116.65	0.0100	get 0.0100% / 8h	4h 55m	$795.8M	$1.32B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −0.774%Rate

Funding earned: −$7.7
Price spread: −0.774% → 0.000%: −$77.41
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$96.13
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	0.43 bp	5.9 bp −$6	9.1 bp −$91	16.8 bp −$1,685	32.5 bp −$16.3K

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
Hotstuff SOL-PERP	−0.0080%	1h	116.77	−0.669%	$913	$8K	25x	as long as short
Vest SOL-PERP	−0.0074%	1h	116.66	−0.762%	—	$605K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.77	−0.669%	$54K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.76	−0.679%	$4.4M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.62	−0.800%	$1.4M	$18.8M	3.1x	as long as short
Hibachi SOL/USDT-P	+0.0008%	1h	116.56	−0.850%	$104K	$697K	20x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.72	−0.716%	$1.9M	$2.8M	13x	as long as short
ApeX Omni SOLUSDT	+0.0018%	1h	116.81	−0.641%	$1.7M	$6.0M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	116.72	−0.715%	$100K	$168K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0062%	1h	116.81	−0.636%	$26.3M	$25.2M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.79	−0.652%	$7.7M	$404.5M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.77	−0.670%	$30.8M	$100.0M	100x	as long as short
Lighter RH SOL	+0.0080%	1h	116.73	−0.706%	$2.2M	$16.6M	25x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.77	−0.675%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.76	−0.684%	$13.0M	$59.5M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.78	−0.662%	$342K	$228K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.66	−0.766%	$50K	$845K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.75	−0.690%	$1.0M	$521K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.78	−0.660%	$5.6M	$39.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.81	−0.638%	$708.2M	$395.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.72	−0.712%	$175.3M	$182.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.76	−0.679%	$15.5M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.70	−0.732%	$962.2M	$3.77B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	116.65	−0.774%	$795.8M	$1.32B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.75	−0.689%	$365.0M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.75	−0.689%	$232K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.77	−0.672%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.86	−0.599%	$134.6M	$18.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.72	−0.715%	$849.1M	$651.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.71	−0.723%	$416.0M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.72	−0.715%	$126.6M	$216.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.72	−0.716%	$482.0M	$438.9M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.72	−0.717%	—	$365.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.81	−0.638%	$23.4M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.68	−0.752%	$24.4M	$115.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.36	−1.019%	$93.5M	$396.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.56	−0.848%	$47.6M	$29.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.63	−0.791%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.75	−0.689%	$336K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.75	−0.685%	$148K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.76	−0.677%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.76	−0.681%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.76	−0.681%	$226.6M	$46.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.84	−0.612%	$45.7M	$101.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.69	−0.744%	$8.0M	$36.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.60	−0.819%	—	$221.2M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.00	−0.476%	$6.5M	$13.3M	25x	as long as short
Injective SOL/USDC PERPlong	+0.0137%	1h	117.56	long leg	$4K	$2K	12x
Reya SOLRUSDPERP	+0.0190%	1h	116.75	−0.691%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.49	−0.910%	$51.7M	$71.7M	125x	as long as short
Perpl SOL	+0.0223%	43m	116.80	−0.646%	$128K	$3.7M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.76	−0.677%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0457%	1h	116.83	−0.620%	$25K	$50K	20x	as long as short
Bluefin SOL-PERP	+0.0487%	1h	116.76	−0.678%	$25K	$29K	25x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.81	−0.634%	$1.9M	$4.9M	20x	as long as short