Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.176%

Price spread now: Katana Perps against Injective+0.385%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 Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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. Katana Perps is 0.385% dearer against Injective than usual: you sell high and buy low (spread +0.385% now, against zero (this spread has no 7-day history yet)): +$39 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SOL/USDC PERP	116.85	0.0206	pay 0.0026% / 1h	56m 43s	$4K	$117	12x
Short	Katana Perps SOL-USD	117.30	0.0100	get 0.0100% / 8h	5h 56m	$45K	$879K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.385%Rate

Funding earned: −$22.37
Price spread: +0.385% → 0.000%: $38.51
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $12.32
Costs to cover: 0.038%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Katana Perps: 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 Injective no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Injective and Katana Perps: 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 54 exchanges

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
Hibachi SOL/USDT-P	−0.0264%	1h	117.37	+0.443%	$100K	$647K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.44	+0.501%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0052%	8h	117.33	+0.408%	$735.4M	$1.24B	100x	as long as short
SoDEX SOL-USD	−0.0008%	1h	117.34	+0.419%	$6.1M	$11.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.35	+0.428%	$41K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.35	+0.428%	$9.3M	$17.9M	20x	as long as short
Perpl SOL	0.0000%	43m	117.35	+0.430%	$99K	$2.9M	8.3x	as long as short
Vest SOL-PERP	+0.0008%	1h	117.32	+0.400%	—	$272K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0016%	1h	117.40	+0.467%	$26.4M	$18.6M	50x	as long as short
Bitget SOLUSDT	+0.0029%	8h	117.31	+0.395%	$483.0M	$398.2M	100x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.38	+0.451%	$8.4M	$370.2M	50x	as long as short
Aster SOLUSDT	+0.0043%	8h	117.35	+0.425%	$178.0M	$155.5M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0051%	8h	117.34	+0.420%	$997K	$5.2M	100x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	117.34	+0.419%	$101K	$181K	20x	as long as short
Aevo SOL-PERP	+0.0080%	1h	117.28	+0.365%	$348K	$258K	20x	as long as short
Binance SOLUSDT	+0.0082%	8h	117.34	+0.421%	$972.0M	$3.43B	100x	as long as short
MEXC SOL_USDT	+0.0082%	8h	117.32	+0.402%	$430.0M	$910.4M	300x	as long as short
Kraken Futures PF_SOLUSD	+0.0083%	1h	117.38	+0.452%	$32.6M	$92.2M	100x	as long as short
Gate SOL_USDT	+0.0092%	8h	117.33	+0.411%	$843.5M	$584.4M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.38	+0.456%	$13.2M	$54.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.37	+0.445%	$2.3M	$13.5M	25x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.36	+0.439%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	117.30	+0.385%	$45K	$879K	20x
Nado SOL-PERP	+0.0100%	1h	117.31	+0.389%	$5.7M	$39.1M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.41	+0.477%	$15.9M	$116.2M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.31	+0.394%	$362.1M	$1.56B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.27	+0.359%	$223K	$759K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.39	+0.460%	$1.2M	$8.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.35	+0.426%	$127.4M	$14.3M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.37	+0.445%	$134.6M	$228.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.33	+0.415%	—	$333.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.35	+0.428%	$23.3M	$35.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.25	+0.340%	$25.1M	$100.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.24	+0.332%	$94.1M	$381.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.35	+0.428%	$48.0M	$25.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.37	+0.443%	$1.1M	$6.5M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.29	+0.377%	$1.3M	$10.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.32	+0.402%	$324K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.36	+0.432%	$285K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.32	+0.401%	$27K	$35K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.30	+0.382%	$190K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.36	+0.433%	$227.0M	$41.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.35	+0.428%	$45.6M	$99.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0100%	8h	117.36	+0.437%	$1.3M	$15.8M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.27	+0.358%	$8.5M	$33.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.33	+0.408%	—	$210.5M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.51	+0.565%	$6.6M	$11.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.29	+0.372%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0203%	8h	117.33	+0.411%	$51.6M	$57.3M	125x	as long as short
Injective SOL/USDC PERPlong	+0.0206%	1h	116.85	long leg	$4K	$117	12x
Hyperliquid SOL	+0.0217%	1h	117.47	+0.531%	$723.8M	$366.4M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0171%	1h	117.35	+0.429%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0250%	1h	117.35	+0.426%	$2.2M	$4.4M	20x	as long as short
Aftermath Perps SOLUSD	+0.0385%	1h	117.38	+0.457%	$25K	$52K	20x	as long as short