Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:12 UTC−0.0173%/8h= −18.9% APRpaid last 24h −0.195%

Price spread now: Perpl against Injective−0.114%54s7-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 Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.338%−$34 on $10k

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

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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Perpl is 0.114% 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 54 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	0.0173	pay 0.0022% / 1h	46m 28s	$4K	$2K	12x
Short	Perpl SOL	118.53	0	get 0.0000% / 43m	25m 28s	$158K	$3.9M	8.3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now −0.114%Rate

Funding earned: −$36.33
Price spread: −0.114% → 0.000%: −$11.38
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$61.52
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Perpl: 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 Perpl no order-book sample	—	—	—	—	—

Injective and Perpl: 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	118.64	−0.013%	$841	$8K	25x	as long as short
Vest SOL-PERP	−0.0077%	1h	118.50	−0.137%	—	$610K	20x	as long as short
Derive SOL-PERP	−0.0062%	1h	118.45	−0.179%	$2.0M	$2.8M	13x	as long as short
ApeX Omni SOLUSDT	−0.0031%	1h	118.54	−0.101%	$1.5M	$6.1M	50x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	118.60	−0.048%	$32.4M	$97.4M	100x	as long as short
dYdX SOL-USD	−0.0008%	1h	118.60	−0.051%	$4.8M	$27.4M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.53	−0.112%	$55K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.61	−0.040%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOLshort	0.0000%	43m	118.53	−0.114%	$158K	$3.9M	8.3x
01 Exchange SOLUSD	+0.0056%	1h	118.57	−0.076%	$103K	$158K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0072%	1h	118.63	−0.021%	$121K	$634K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0079%	8h	118.54	−0.100%	$1.0M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	118.52	−0.115%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0086%	8h	118.51	−0.126%	$857.9M	$660.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	118.65	−0.008%	$8.1M	$413.9M	50x	as long as short
Lighter SOL	+0.0096%	1h	118.63	−0.026%	$14.0M	$55.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.62	−0.033%	$2.1M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.55	−0.090%	$347K	$328K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0096%	1h	118.65	−0.005%	$26.6M	$25.2M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.66	+0.003%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.58	−0.067%	$47K	$787K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.53	−0.113%	$5.8M	$41.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.62	−0.034%	$718.1M	$404.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.59	−0.055%	$178.1M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.67	+0.010%	$12.2M	$123.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.52	−0.118%	$976.8M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.54	−0.101%	$821.4M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.53	−0.110%	$370.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.56	−0.084%	$232K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.65	−0.007%	$1.9M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.55	−0.092%	$133.5M	$4.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.51	−0.126%	$425.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.59	−0.057%	$137.7M	$207.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.53	−0.110%	$491.8M	$447.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.65	−0.008%	$24.1M	$37.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.61	−0.045%	$26.9M	$128.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.53	−0.111%	$95.2M	$404.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.57	−0.079%	$48.6M	$30.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.58	−0.067%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.51	−0.126%	$358K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.50	−0.132%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.53	−0.110%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.57	−0.077%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.60	−0.051%	$6.2M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	118.54	−0.104%	$230.7M	$44.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.64	−0.017%	$46.5M	$101.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.57	−0.079%	$8.7M	$35.3M	50x	as long as short
Phoenix SOL	+0.0114%	1h	118.62	−0.034%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.65	−0.008%	—	$223.0M	500x	as long as short
Aftermath Perps SOLUSD	+0.0142%	1h	118.63	−0.026%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0161%	1h	118.59	−0.061%	$1.8M	$4.7M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0166% / S −0.0066%	1h	118.52	−0.120%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERPlong	+0.0173%	1h	118.66	long leg	$4K	$2K	12x
Reya SOLRUSDPERP	+0.0185%	1h	118.49	−0.140%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.61	−0.042%	$51.9M	$79.2M	125x	as long as short