Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0275%/8h= +30.1% APRpaid last 24h −0.141%

Price spread now: BloFin against Injective−0.275%7-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 BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 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. BloFin is 0.275% cheaper against Injective than usual: you would sell low and buy high (spread −0.275% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$28 on $10k: about 3.3 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.152% in total) that is about 13 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.152% in total (about 7.9% 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	Injective SOL/USDC PERP	116.36	−0.0055	get 0.0007% / 1h	21m 54s	$4K	$2K	12x
Short	BloFin SOL-USDT	116.04	0.0220	get 0.0220% / 8h	21m 54s	$52.1M	$65.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.275%Rate

Funding earned: $57.82
Price spread: −0.275% → 0.000%: −$27.5
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $18.3
Costs to cover: 0.120%
Break-even: 4.8 days

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 2 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 BloFin live order book, 2 min ago	0.43 bp	6.4 bp −$6	6.4 bp −$64	6.4 bp −$643	10.6 bp −$5,320

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	−0.0153%	1h	116.10	−0.227%	$32.4M	$107.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0112%	1h	116.07	−0.248%	$100K	$674K	20x	as long as short
Bybit SOLUSDT	−0.0106%	8h	116.03	−0.284%	$732.7M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.16	−0.174%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0075%	1h	116.00	−0.311%	$1.8M	$3.0M	13x	as long as short
Injective SOL/USDC PERPlong	−0.0055%	1h	116.36	long leg	$4K	$2K	12x
Vest SOL-PERP	−0.0049%	1h	116.06	−0.260%	—	$756K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.10	−0.224%	$42K	—	150x	as long as short
Variational Omni SOL	0.0000%	8h	116.07	−0.246%	$24.8M	$107.5M	—	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.10	−0.224%	$1.4M	$19.4M	3.1x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl SOL	0.0000%	43m	116.11	−0.212%	$99K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0005%	1h	116.10	−0.223%	$4.3M	$23.5M	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.02	−0.291%	$478.7M	$456.4M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0044%	1h	116.13	−0.200%	$26.3M	$21.6M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.10	−0.226%	$7.8M	$399.0M	50x	as long as short
Aster SOLUSDT	+0.0049%	8h	116.03	−0.284%	$176.9M	$168.6M	100x	as long as short
SoDEX SOL-USD	+0.0051%	1h	116.07	−0.249%	$6.1M	$11.0M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.13	−0.198%	$100K	$181K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0070%	8h	116.07	−0.248%	$1.0M	$5.9M	100x	as long as short
Lighter RH SOL	+0.0072%	1h	116.04	−0.276%	$2.1M	$16.8M	25x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.12	−0.203%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.05	−0.266%	$13.1M	$60.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.07	−0.247%	$350K	$257K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.07	−0.249%	$64K	$912K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.08	−0.242%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.14	−0.192%	$695.4M	$408.1M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.15	−0.179%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.03	−0.282%	$959.2M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.04	−0.275%	$365.7M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.03	−0.284%	$217K	$842K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.11	−0.214%	$922K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.03	−0.284%	$842.0M	$667.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.04	−0.275%	$370.9M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.03	−0.280%	$129.1M	$236.1M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.01	−0.299%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.05	−0.266%	$22.8M	$35.6M	50x	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.10	−0.227%	$93.2M	$405.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.07	−0.249%	$47.5M	$28.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.14	−0.193%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.06	−0.258%	$1.3M	$11.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.08	−0.241%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.10	−0.222%	$283K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.08	−0.236%	$26K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.07	−0.249%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.04	−0.279%	$224.7M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.09	−0.232%	$45.1M	$104.3M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.35	−0.009%	$125.8M	$26.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.00	−0.310%	$8.2M	$37.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.10	−0.228%	—	$236.1M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.20	−0.138%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.06	−0.256%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDTshort	+0.0220%	8h	116.04	−0.275%	$52.1M	$65.3M	125x
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.10	−0.227%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0465%	1h	116.18	−0.151%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.17	−0.164%	$2.1M	$4.8M	20x	as long as short