Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0433%/8h= +47.4% APRpaid last 24h +0.155%

Price spread now: Injective against Variational Omni−0.749%91s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

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

Funding pays, the price is against you. Injective is 0.749% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.749% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$75 on $10k: about 5.8 days of funding at the current rate (+$13 a day). The two prices were read 91 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	Variational Omni SOL	119.18	0.0100	pay 0.0100% / 8h	3h 29m	$27.8M	$120.7M	—
Short	Injective SOL/USDC PERP	118.29	0.0533	get 0.0067% / 1h	29m 40s	$4K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −0.749%Rate

Funding earned: $90.91
Price spread: −0.749% → 0.000%: −$74.94
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $15.94
Costs to cover: 0.000%
Break-even: 5.8 days

Slippage unknown: Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago	1.22 bp	doesn't fit	1.2 bp −$12	6.7 bp −$675	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
Vest SOL-PERP	−0.0096%	1h	119.10	−0.068%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.14	−0.033%	$845	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0065%	1h	119.11	−0.064%	$24K	$48K	20x	as long as short
dYdX SOL-USD	−0.0018%	1h	119.10	−0.070%	$4.9M	$26.4M	20x	as long as short
Derive SOL-PERP	−0.0001%	1h	119.02	−0.133%	$2.0M	$3.0M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.10	−0.066%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.21	+0.027%	$1.2M	$21.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.13	−0.047%	$196K	$4.1M	8.3x	as long as short
01 Exchange SOLUSD	+0.0024%	1h	119.23	+0.039%	$105K	$148K	20x	as long as short
HTX SOL-USDT	+0.0052%	8h	119.18	−0.002%	$232.3M	$43.1M	75x	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	+0.0055%	8h	119.10	−0.071%	$1.1M	$5.8M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0061%	1h	119.13	−0.041%	$26.7M	$27.8M	50x	as long as short
KuCoin SOLUSDTM	+0.0067%	8h	119.08	−0.090%	$136.9M	$182.7M	75x	as long as short
Gate SOL_USDT	+0.0080%	8h	119.06	−0.103%	$858.9M	$674.7M	100x	as long as short
Bitget SOLUSDT	+0.0080%	8h	119.04	−0.118%	$497.9M	$448.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.02	−0.139%	$13.4M	$51.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.00	−0.154%	$2.1M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.05	−0.110%	$354K	$749K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	119.18	−0.004%	$1.0M	$497K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.25	+0.056%	$49K	$778K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.22	+0.032%	$5.6M	$40.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.15	−0.028%	$719.7M	$436.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.04	−0.118%	$179.7M	$172.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.24	+0.047%	$13.4M	$108.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.01	−0.143%	$976.7M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.01	−0.142%	$820.8M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.04	−0.120%	$367.5M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.24	+0.048%	$234K	$861K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.29	+0.088%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.26	+0.062%	$133.2M	$15.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.06	−0.103%	$478.6M	$1.05B	300x	as long as short
BingX SOL-USDC	+0.0100%	8h	119.04	−0.118%	—	$10.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.06	−0.103%	$24.4M	$37.7M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	119.18	long leg	$27.8M	$120.7M	—
edgeX SOLUSDC	+0.0100%	4h	119.07	−0.098%	$95.6M	$391.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.22	+0.027%	$48.8M	$33.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.02	−0.137%	$1.5M	$6.3M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.15	−0.028%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.17	−0.011%	$363K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.08	−0.083%	$200K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.10	−0.066%	$38K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.21	+0.023%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.06	−0.103%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.08	−0.087%	$46.5M	$98.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.06	−0.103%	$8.7M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	119.10	−0.071%	$8.1M	$409.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.21	+0.023%	—	$216.5M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0131%	1h	119.09	−0.081%	$36.4M	$90.8M	100x	as long as short
Hibachi SOL/USDT-P	+0.0136%	1h	119.19	+0.004%	$130K	$580K	20x	as long as short
Phoenix SOL	+0.0149%	1h	119.25	+0.056%	$7.2M	$11.3M	25x	as long as short
RISEx SOL/USDC	+0.0160%	1h	119.29	+0.087%	$1.6M	$6.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.12	−0.052%	$1.1M	$553K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.14	−0.036%	$51.5M	$89.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0181%	1h	119.10	−0.069%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERPshort	+0.0533%	1h	118.29	−0.749%	$4K	$2K	12x