Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.175%

Price spread now: Injective against SunX−0.210%61s7-day average — · you buy dearer than you sell

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

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.210% cheaper against SunX than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 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	SunX SOL-USDT	117.10	0.0100	pay 0.0100% / 8h	6h 20m	$190K	$1.5M	30x
Short	Injective SOL/USDC PERP	116.85	0.0033	get 0.0004% / 1h	20m 16s	$4K	$122	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now −0.210%Rate

Funding earned: −$14
Price spread: −0.210% → 0.000%: −$21.01
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$43.03
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 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 SunX live order book, 8 min ago	3.88 bp	23.0 bp −$23	39.9 bp −$399	doesn't fit	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 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
Bluefin SOL-PERP	−0.0804%	1h	117.10	+0.003%	$27K	$35K	25x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	117.13	+0.030%	$100K	$650K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.12	+0.022%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0047%	8h	117.07	−0.022%	$733.9M	$1.27B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.13	+0.029%	$39K	—	150x	as long as short
Vest SOL-PERP	0.0000%	1h	117.12	+0.016%	—	$284K	20x	as long as short
Perpl SOL	0.0000%	43m	117.14	+0.041%	$100K	$2.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.16	+0.057%	$26.3M	$18.7M	50x	as long as short
Bitget SOLUSDT	+0.0027%	8h	117.11	+0.009%	$482.7M	$409.6M	100x	as long as short
Injective SOL/USDC PERPshort	+0.0033%	1h	116.85	−0.210%	$4K	$122	12x

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	117.12	+0.024%	$8.4M	$375.2M	50x	as long as short
Aster SOLUSDT	+0.0044%	8h	117.09	−0.005%	$177.6M	$158.6M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	117.11	+0.009%	$1.0M	$5.3M	100x	as long as short
SoDEX SOL-USD	+0.0064%	1h	117.10	+0.003%	$6.1M	$11.1M	20x	as long as short
Gate SOL_USDT	+0.0070%	8h	117.13	+0.029%	$850.9M	$599.5M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.18	+0.072%	$101K	$181K	20x	as long as short
ApeX Omni SOLUSDT	+0.0087%	1h	117.24	+0.120%	$1.1M	$6.7M	50x	as long as short
MEXC SOL_USDT	+0.0093%	8h	117.09	−0.005%	$430.7M	$993.4M	300x	as long as short
Binance SOLUSDT	+0.0093%	8h	117.08	−0.014%	$966.9M	$3.50B	100x	as long as short
Lighter SOL	+0.0096%	1h	117.10	+0.004%	$13.2M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.08	−0.009%	$2.2M	$13.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.07	−0.026%	$352K	$255K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.07	−0.021%	$1.0M	$557K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.11	+0.012%	$45K	$864K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.10	−0.001%	$5.6M	$39.5M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.14	+0.036%	$16.0M	$119.9M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.06	−0.031%	$360.8M	$1.58B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.18	+0.072%	$222K	$779K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.15	+0.046%	$898K	$7.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.25	+0.134%	$127.0M	$16.9M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.10	+0.007%	$134.0M	$229.4M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.09	−0.006%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.13	+0.029%	$23.2M	$35.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.07	−0.021%	$25.1M	$100.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.12	+0.023%	$94.0M	$383.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.14	+0.041%	$47.9M	$25.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.15	+0.046%	$1.3M	$10.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.10	+0.003%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.12	+0.019%	$285K	$1.6M	20x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	117.10	long leg	$190K	$1.5M	30x
HTX SOL-USDT	+0.0100%	8h	117.21	+0.099%	$226.8M	$41.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.13	+0.029%	$45.5M	$101.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0101%	8h	117.12	+0.018%	$1.3M	$16.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.07	−0.023%	$8.5M	$33.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.11	+0.011%	—	$213.7M	500x	as long as short
dYdX SOL-USD	+0.0124%	1h	117.12	+0.018%	$9.3M	$18.3M	20x	as long as short
Phoenix SOL	+0.0129%	1h	117.26	+0.140%	$6.6M	$12.8M	25x	as long as short
Hyperliquid SOL	+0.0155%	1h	117.26	+0.143%	$718.9M	$374.8M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0185%	1h	117.12	+0.022%	$32.5M	$93.7M	100x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.08	−0.016%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0214%	8h	117.11	+0.012%	$51.6M	$57.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0170%	1h	117.11	+0.014%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0273%	1h	117.17	+0.063%	$2.2M	$4.5M	20x	as long as short
Aftermath Perps SOLUSD	+0.0405%	1h	117.16	+0.051%	$25K	$54K	20x	as long as short