Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0173%/8h= +18.9% APRpaid last 24h +0.204%

Price spread now: Injective against Kalshi−0.356%66s7-day average — · you buy dearer than you sell

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

Long on Kalshi Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.356% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.356% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$36 on $10k: about 6.9 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.071% in total) that is about 35 days. The two prices were read 66 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	Kalshi KXSOLPERP	116.07	0	get 0.0000% / 8h	6h 21m	$1.5M	$19.3M	3.1x
Short	Injective SOL/USDC PERP	115.66	0.0173	get 0.0022% / 1h	21m 46s	$4K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Kalshi. 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 KalshibpFee InjectivebpOrdersPrice spread, now −0.356%Rate

Funding earned: $36.32
Price spread: −0.356% → 0.000%: −$35.58
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$9.28
Costs to cover: 0.100%
Break-even: 8.8 days

Slippage unknown: Kalshi: live order book, 2 min ago; Injective: 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 Kalshi live order book, 2 min ago	1.51 bp	7.7 bp −$8	12.7 bp −$127	22.0 bp −$2,202	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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
Kraken Futures PF_SOLUSD	−0.0240%	1h	116.13	+0.049%	$31.7M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0152%	1h	115.72	−0.304%	$103K	$693K	20x	as long as short
BingX SOL-USDT	−0.0112%	8h	116.09	+0.016%	—	$368.6M	—	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.07	−0.003%	$741.7M	$1.42B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.33	+0.223%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0068%	1h	115.92	−0.129%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0015%	1h	116.02	−0.044%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.06	−0.010%	$42K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.07	long leg	$1.5M	$19.3M	3.1x
Perpl SOL	0.0000%	43m	115.97	−0.091%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0010%	1h	116.07	−0.003%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0024%	1h	115.96	−0.097%	$98K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.13	+0.053%	$7.8M	$404.1M	50x	as long as short
Bitget SOLUSDT	+0.0065%	8h	116.06	−0.008%	$478.3M	$457.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	116.10	+0.023%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.06	−0.011%	$13.0M	$61.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.08	+0.002%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.10	+0.019%	$349K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.04	−0.028%	$64K	$912K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.07	−0.002%	$1.0M	$550K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	115.89	−0.158%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.13	+0.049%	$690.6M	$403.4M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.09	+0.013%	$175.5M	$180.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.11	+0.033%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.10	+0.023%	$967.6M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.13	+0.049%	$362.0M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.06	−0.011%	$216K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.11	+0.036%	$912K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.85	−0.191%	$123.9M	$22.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.09	+0.015%	$841.8M	$669.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.10	+0.023%	$357.9M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.06	−0.007%	$125.3M	$229.9M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.12	+0.040%	$22.9M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.53	−0.471%	$24.7M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.59	−0.417%	$92.8M	$406.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.67	−0.347%	$47.3M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.61	−0.399%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.69	−0.330%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.96	−0.097%	$319K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.00	−0.065%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.07	−0.003%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.95	−0.110%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.12	+0.040%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.00	−0.059%	$224.8M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.12	+0.040%	$45.2M	$104.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.04	−0.026%	$7.9M	$38.8M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0109%	1h	116.16	+0.076%	$26.3M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.00	−0.067%	—	$240.4M	500x	as long as short
Injective SOL/USDC PERPshort	+0.0173%	1h	115.66	−0.356%	$4K	$2K	12x
Phoenix SOL	+0.0179%	1h	115.69	−0.330%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.97	−0.091%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.79	−0.244%	$51.6M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.00	−0.065%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.15	+0.070%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0573%	1h	115.82	−0.215%	$25K	$53K	20x	as long as short