Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h −0.159%

Price spread now: Variational Omni against Injective+0.125%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Variational Omni is 0.125% dearer against Injective than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SOL/USDC PERP	119.02	0.0213	pay 0.0027% / 1h	1m 18s	$4K	$2K	12x
Short	Variational Omni SOL	119.17	0.0100	get 0.0100% / 8h	1h 01m	$27.5M	$128.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.125%Rate

Funding earned: −$23.81
Price spread: +0.125% → 0.000%: $12.51
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.32
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	1.17 bp	doesn't fit	2.9 bp −$29	9.5 bp −$948	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
Bluefin SOL-PERP	−0.0169%	1h	119.27	+0.213%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.24	+0.188%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0064%	1h	119.20	+0.154%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.19	+0.146%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.29	+0.226%	$115K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.26	+0.204%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.28	+0.219%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.28	+0.215%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.28	+0.218%	$6.6M	$13.6M	25x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.27	+0.210%	$104K	$157K	20x	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	+0.0070%	8h	119.28	+0.217%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.24	+0.182%	—	$10.5M	—	as long as short
HTX SOL-USDT	+0.0082%	8h	119.20	+0.154%	$232.0M	$45.0M	75x	as long as short
Aftermath Perps SOLUSD	+0.0085%	1h	119.18	+0.138%	$24K	$47K	20x	as long as short
Gate SOL_USDT	+0.0087%	8h	119.25	+0.193%	$870.3M	$690.6M	100x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	119.30	+0.236%	$118K	$608K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.28	+0.216%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.24	+0.183%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.10	+0.069%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.24	+0.185%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.26	+0.202%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.23	+0.181%	$6.1M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.34	+0.269%	$719.9M	$410.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.26	+0.202%	$178.6M	$175.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.28	+0.218%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.27	+0.207%	$982.5M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.30	+0.235%	$829.4M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.26	+0.202%	$372.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.26	+0.202%	$233K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.28	+0.217%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.85	−0.143%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.25	+0.193%	$453.7M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.26	+0.201%	$139.7M	$202.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.26	+0.199%	$496.6M	$455.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.28	+0.218%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	119.17	+0.125%	$27.5M	$128.4M	—
edgeX SOLUSDC	+0.0100%	4h	119.22	+0.166%	$95.8M	$401.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.21	+0.160%	$48.8M	$31.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.17	+0.130%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.28	+0.218%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.24	+0.185%	$368K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.26	+0.200%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.27	+0.206%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.27	+0.210%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.26	+0.202%	$46.6M	$102.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.21	+0.161%	$8.7M	$36.1M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.30	+0.237%	$8.3M	$416.8M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0116%	1h	119.33	+0.259%	$26.7M	$27.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.26	+0.204%	—	$224.5M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.28	+0.218%	$32.6M	$96.8M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0071%	1h	119.28	+0.220%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.23	+0.177%	$1.1M	$547K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.28	+0.222%	$1.7M	$5.5M	20x	as long as short
Injective SOL/USDC PERPlong	+0.0213%	1h	119.02	long leg	$4K	$2K	12x
BloFin SOL-USDT	+0.0220%	8h	119.20	+0.151%	$52.0M	$84.0M	125x	as long as short