Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.165%

Price spread now: Katana Perps against Injective−0.440%7-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 Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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 −$4 a day on $10k at the current rate, and Katana Perps is 0.440% cheaper against Injective than usual: you would sell low and buy high (−$44 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SOL/USDC PERP	118.20	0.0222	pay 0.0028% / 1h	30m 53s	$4K	$2K	12x
Short	Katana Perps SOL-USD	117.68	0.0100	get 0.0100% / 8h	6h 30m	$63K	$853K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.440%Rate

Funding earned: −$25.6
Price spread: −0.440% → 0.000%: −$43.99
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$73.42
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Katana Perps: 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 Injective no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Injective and Katana Perps: 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 54 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	117.75	−0.379%	$921	$8K	25x	as long as short
Vest SOL-PERP	−0.0071%	1h	117.70	−0.425%	—	$609K	20x	as long as short
Hibachi SOL/USDT-P	−0.0056%	1h	117.84	−0.306%	$92K	$692K	20x	as long as short
ApeX Omni SOLUSDT	−0.0052%	1h	117.67	−0.452%	$1.5M	$6.1M	50x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.65	−0.462%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.75	−0.382%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.77	−0.364%	$4.5M	$24.3M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.77	−0.361%	$1.4M	$21.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.77	−0.368%	$129K	$3.9M	8.3x	as long as short
HTX SOL-USDT	+0.0013%	8h	117.69	−0.433%	$228.8M	$45.5M	75x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx SOL/USDC	+0.0018%	1h	117.73	−0.400%	$2.0M	$4.6M	20x	as long as short
Gate SOL_USDT	+0.0032%	8h	117.70	−0.423%	$853.7M	$660.1M	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.71	−0.413%	$31.5M	$98.7M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0068%	1h	117.78	−0.355%	$26.4M	$25.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.73	−0.393%	$8.0M	$410.1M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.73	−0.401%	—	$369.7M	—	as long as short
Orderly PERP_SOL_USDC	+0.0086%	8h	117.75	−0.384%	$1.1M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.72	−0.406%	$13.0M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.71	−0.411%	$2.2M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.78	−0.355%	$103K	$164K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.73	−0.396%	$345K	$259K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.76	−0.376%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	117.68	−0.440%	$63K	$853K	20x
Nado SOL-PERP	+0.0100%	1h	117.75	−0.385%	$5.7M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.82	−0.321%	$719.6M	$402.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.73	−0.401%	$176.8M	$180.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.77	−0.364%	$14.4M	$131.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.72	−0.406%	$971.3M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.74	−0.389%	$820.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.73	−0.398%	$365.8M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.57	−0.533%	$238K	$890K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.76	−0.376%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.55	−0.547%	$134.7M	$14.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.72	−0.406%	$427.9M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.71	−0.416%	$131.6M	$210.3M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.70	−0.422%	$487.2M	$441.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.72	−0.406%	$23.7M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.72	−0.409%	$24.4M	$125.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.62	−0.488%	$94.5M	$405.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.61	−0.500%	$48.2M	$29.7M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.81	−0.330%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.74	−0.389%	$358K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.77	−0.360%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.73	−0.393%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.73	−0.400%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.72	−0.406%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.75	−0.381%	$45.8M	$101.8M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.89	−0.262%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.69	−0.427%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.72	−0.407%	—	$227.2M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.74	−0.386%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERPlong	+0.0222%	1h	118.20	long leg	$4K	$2K	12x
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0172%	1h	117.74	−0.390%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0312%	1h	117.73	−0.397%	$25K	$51K	20x	as long as short