Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0371%/8h= −40.7% APRpaid last 24h +0.126%

Price spread now: Injective against BloFin+0.218%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.218% dearer against BloFin than usual: you sell high and buy low (spread +0.218% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 7 days (−0.167% in total) that is about 9.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.167% in total (about -8.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SOL-USDT	119.15	0.0220	pay 0.0220% / 8h	2h 06m	$52.0M	$86.7M	125x
Short	Injective SOL/USDC PERP	119.41	−0.0151	pay 0.0019% / 1h	6m 58s	$4K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +0.218%Rate

Funding earned: −$77.98
Price spread: +0.218% → 0.000%: $21.82
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$68.18
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 12 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 BloFin live order book, 12 min ago	0.42 bp	6.4 bp −$6	6.5 bp −$65	8.3 bp −$826	14.9 bp −$7,439
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
Injective SOL/USDC PERPshort	−0.0151%	1h	119.41	+0.218%	$4K	$2K	12x
Hotstuff SOL-PERP	−0.0080%	1h	119.27	+0.098%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0071%	1h	119.20	+0.044%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.14	−0.009%	$2.0M	$3.1M	13x	as long as short
dYdX SOL-USD	−0.0007%	1h	119.29	+0.116%	$4.9M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.24	+0.079%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.24	+0.072%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.28	+0.106%	$178K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.24	+0.075%	$26.7M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0041%	1h	119.40	+0.208%	$24K	$47K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0056%	8h	119.19	+0.033%	$232.2M	$44.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.23	+0.070%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.30	+0.126%	$120K	$633K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.29	+0.117%	$104K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.19	+0.034%	—	$374.4M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.21	+0.050%	$870.6M	$689.2M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.16	+0.007%	$13.6M	$55.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.14	−0.006%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.21	+0.054%	$354K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.24	+0.079%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.27	+0.101%	$49K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.25	+0.082%	$6.3M	$42.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.26	+0.092%	$719.5M	$413.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.18	+0.025%	$178.8M	$176.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.31	+0.133%	$12.4M	$115.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.19	+0.034%	$976.8M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.22	+0.059%	$824.4M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.17	+0.017%	$371.1M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.18	+0.025%	$234K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.31	+0.138%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.25	+0.084%	$133.7M	$10.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.18	+0.025%	$448.4M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.19	+0.037%	$140.3M	$198.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.17	+0.021%	$497.2M	$453.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.16	+0.008%	$24.3M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.41	+0.220%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.32	+0.139%	$95.8M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.29	+0.121%	$48.8M	$33.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.29	+0.117%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.30	+0.126%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.24	+0.076%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.22	+0.056%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.25	+0.082%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.20	+0.046%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.16	+0.008%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.20	+0.042%	$46.6M	$101.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.16	+0.008%	$8.7M	$36.6M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.19	+0.038%	$8.2M	$416.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.29	+0.120%	—	$221.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.34	+0.159%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.24	+0.073%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.29	+0.118%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.23	+0.070%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	119.15	long leg	$52.0M	$86.7M	125x
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.17	+0.020%	$35.4M	$91.3M	100x	as long as short