Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.162%

Price spread now: KuCoin against Injective−0.105%100s7-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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 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 −$2 a day on $10k at the current rate, and KuCoin is 0.105% cheaper against Injective than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 100 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	118.66	0.0170	pay 0.0021% / 1h	5m 37s	$4K	$2K	12x
Short	KuCoin SOLUSDTM	118.53	0.0100	get 0.0100% / 8h	5m 37s	$137.1M	$206.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$14.77
Price spread: −0.105% → 0.000%: −$10.53
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$37.33
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: 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 KuCoin live order book, 4 min ago	0.72 bp	9.0 bp −$9	10.9 bp −$109	15.5 bp −$1,546	doesn't fit

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
Derive SOL-PERP	−0.0100%	1h	118.41	−0.213%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.52	−0.122%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0078%	1h	118.48	−0.152%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0019%	1h	118.56	−0.081%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.50	−0.137%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.56	−0.083%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.58	−0.069%	$174K	$3.9M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0003%	1h	118.58	−0.067%	$1.5M	$6.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0010%	1h	118.57	−0.074%	$26.6M	$25.7M	50x	as long as short
Gate SOL_USDT	+0.0065%	8h	118.50	−0.135%	$865.5M	$688.1M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0076%	8h	118.50	−0.139%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0078%	8h	118.48	−0.149%	$230.6M	$45.1M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.57	−0.076%	$104K	$158K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.52	−0.120%	—	$373.0M	—	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	118.72	+0.048%	$120K	$631K	20x	as long as short
Lighter SOL	+0.0096%	1h	118.49	−0.141%	$13.4M	$56.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.50	−0.139%	$2.1M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.48	−0.156%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.56	−0.081%	$8.1M	$415.4M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.54	−0.104%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.53	−0.110%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.54	−0.101%	$5.8M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.64	−0.017%	$717.4M	$407.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.53	−0.108%	$178.2M	$177.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.54	−0.101%	$12.2M	$122.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.50	−0.135%	$977.1M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.51	−0.125%	$821.4M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.53	−0.110%	$370.1M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.44	−0.185%	$230K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.60	−0.050%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.65	−0.011%	$133.6M	$4.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.52	−0.118%	$427.9M	$1.14B	300x	as long as short
KuCoin SOLUSDTMshort	+0.0100%	8h	118.53	−0.105%	$137.1M	$206.7M	75x
Bitget SOLUSDT	+0.0100%	8h	118.52	−0.115%	$491.7M	$458.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.54	−0.101%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.153%	$27.0M	$128.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.58	−0.069%	$95.2M	$402.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.64	−0.017%	$48.6M	$30.8M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.56	−0.084%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.53	−0.110%	$361K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.48	−0.150%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.50	−0.132%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.53	−0.113%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.53	−0.110%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.52	−0.118%	$46.4M	$102.5M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.73	+0.059%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.51	−0.129%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.53	−0.111%	$32.5M	$96.9M	100x	as long as short
Aftermath Perps SOLUSD	+0.0116%	1h	118.62	−0.033%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.60	−0.049%	—	$225.8M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0166% / S −0.0070%	1h	118.49	−0.140%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERPlong	+0.0170%	1h	118.66	long leg	$4K	$2K	12x
Reya SOLRUSDPERP	+0.0184%	1h	118.47	−0.160%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.57	−0.076%	$51.7M	$80.0M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.56	−0.086%	$1.8M	$4.8M	20x	as long as short