Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h −0.164%

Price spread now: Paradex against Injective−0.078%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 Paradex

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Paradex is 0.078% cheaper against Injective than usual: you would sell low and buy high (−$8 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	118.66	0.0170	pay 0.0021% / 1h	6m 46s	$4K	$2K	12x
Short	Paradex SOL-USD-PERP	118.57	0.0100	get 0.0100% / 8h	6m 46s	$1.0M	$521K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$14.86
Price spread: −0.078% → 0.000%: −$7.75
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$26.64
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Paradex: live order book, 2 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 Paradex live order book, 2 min ago	1.77 bp	3.8 bp −$4	10.1 bp −$101	doesn't fit	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	118.49	−0.146%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.67	+0.008%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.53	−0.108%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	118.59	−0.055%	$4.8M	$28.0M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.59	−0.061%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.61	−0.038%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.58	−0.070%	$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	+0.0021%	1h	118.64	−0.019%	$26.6M	$25.7M	50x	as long as short
Gate SOL_USDT	+0.0067%	8h	118.56	−0.084%	$865.5M	$687.7M	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	118.58	−0.072%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0078%	8h	118.53	−0.108%	$230.7M	$45.1M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.53	−0.110%	$104K	$158K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.57	−0.079%	—	$372.9M	—	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	118.56	−0.084%	$13.4M	$56.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.54	−0.100%	$2.1M	$17.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.57	−0.079%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.62	−0.036%	$8.1M	$415.6M	50x	as long as short
Paradex SOL-USD-PERPshort	+0.0100%	8h	118.57	−0.078%	$1.0M	$521K	50x
Katana Perps SOL-USD	+0.0100%	8h	118.57	−0.076%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.51	−0.122%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.67	+0.008%	$717.6M	$407.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.58	−0.068%	$178.3M	$177.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.60	−0.052%	$12.2M	$122.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.56	−0.087%	$977.6M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.57	−0.075%	$822.0M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.55	−0.093%	$370.1M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.44	−0.185%	$230K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.60	−0.051%	$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	118.54	−0.101%	$428.0M	$1.14B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.57	−0.078%	$137.1M	$206.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.54	−0.104%	$491.7M	$458.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.60	−0.051%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.154%	$26.9M	$129.1M	—	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	118.62	−0.034%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.54	−0.101%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.56	−0.083%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.57	−0.079%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.60	−0.054%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.59	−0.059%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.58	−0.067%	$46.4M	$102.4M	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	118.55	−0.091%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	118.60	−0.050%	$32.5M	$96.9M	100x	as long as short
Aftermath Perps SOLUSD	+0.0117%	1h	118.63	−0.025%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.68	+0.017%	—	$225.9M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0070%	1h	118.57	−0.074%	$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	118.56	−0.081%	$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	118.52	−0.115%	$1.8M	$4.8M	20x	as long as short