Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h +0.205%

Price spread now: Injective against Kalshi+0.071%66s7-day average — · you sell dearer than you buy

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+0.073%+$7 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.071% dearer against Kalshi than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). 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	116.54	0	get 0.0000% / 8h	4h 59m	$1.5M	$19.3M	3.1x
Short	Injective SOL/USDC PERP	116.62	0.0176	get 0.0022% / 1h	59m 42s	$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 +0.071%Rate

Funding earned: $37.02
Price spread: +0.071% → 0.000%: $7.12
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: $34.12
Costs to cover: 0.100%
Break-even: 0.5 days

Slippage unknown: Kalshi: live order book, 4 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, 4 min ago	0.81 bp	8.2 bp −$8	11.6 bp −$116	19.1 bp −$1,913	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
Hibachi SOL/USDT-P	−0.0216%	1h	116.52	−0.014%	$97K	$679K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.47	−0.057%	$737.2M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.54	−0.001%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.59	+0.042%	$32.3M	$106.1M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.51	−0.025%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0045%	1h	116.52	−0.013%	—	$633K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.59	+0.045%	$42K	—	150x	as long as short
Kalshi KXSOLPERPlong	0.0000%	8h	116.54	long leg	$1.5M	$19.3M	3.1x
Perpl SOL	0.0000%	43m	116.57	+0.027%	$106K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0017%	1h	116.51	−0.024%	$4.3M	$23.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0035%	8h	116.47	−0.062%	$480.3M	$458.8M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.58	+0.037%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.58	+0.035%	$8.0M	$402.2M	50x	as long as short
Lighter RH SOL	+0.0056%	1h	116.47	−0.054%	$2.2M	$17.0M	25x	as long as short
SoDEX SOL-USD	+0.0064%	1h	116.54	+0.003%	$6.1M	$11.0M	20x	as long as short
Aster SOLUSDT	+0.0071%	8h	116.48	−0.049%	$176.4M	$169.5M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0081%	8h	116.54	+0.003%	$1.0M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0091%	1h	116.63	+0.079%	$26.4M	$21.8M	50x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.56	+0.023%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.49	−0.041%	$13.2M	$60.1M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.55	+0.010%	$353K	$254K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.53	−0.006%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.55	+0.011%	$5.3M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.60	+0.056%	$700.9M	$408.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.52	−0.015%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.49	−0.040%	$965.4M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.50	−0.032%	$367.3M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.57	+0.028%	$216K	$825K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.57	+0.026%	$898K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.073%	$125.5M	$24.9M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.51	−0.023%	$851.9M	$677.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.50	−0.032%	$369.7M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.52	−0.013%	$132.9M	$233.1M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.49	−0.037%	—	$373.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.54	+0.003%	$23.0M	$36.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.44	−0.079%	$24.9M	$110.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.55	+0.010%	$93.6M	$408.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.53	−0.006%	$47.7M	$29.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.66	+0.104%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.59	+0.045%	$1.3M	$11.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.56	+0.020%	$312K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.57	+0.031%	$241K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.56	+0.021%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.55	+0.015%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.49	−0.044%	$225.6M	$50.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.54	+0.003%	$45.3M	$104.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.46	−0.063%	$8.0M	$38.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.49	−0.037%	—	$233.7M	500x	as long as short
Injective SOL/USDC PERPshort	+0.0176%	1h	116.62	+0.071%	$4K	$2K	12x
Phoenix SOL	+0.0178%	1h	116.59	+0.045%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.52	−0.017%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.49	−0.040%	$52.0M	$66.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.58	+0.039%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.63	+0.082%	$2.1M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0487%	1h	116.64	+0.087%	$25K	$57K	20x	as long as short