Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0070%/8h= +7.7% APRpaid last 24h +0.162%

Price spread now: Injective against Variational Omni−0.417%46s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 0.417% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.417% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$42 on $10k: about 20 days of funding at the current rate (+$2 a day). The two prices were read 46 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	Variational Omni SOL	119.52	0.0100	pay 0.0100% / 8h	50m 32s	$27.4M	$128.6M	—
Short	Injective SOL/USDC PERP	119.02	0.0170	get 0.0021% / 1h	50m 32s	$4K	$2K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −0.417%Rate

Funding earned: $14.77
Price spread: −0.417% → 0.000%: −$41.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$26.99
Costs to cover: 0.000%
Break-even: 19.8 days

Slippage unknown: Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 4 min ago	1.17 bp	doesn't fit	2.9 bp −$29	7.1 bp −$710	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
Hotstuff SOL-PERP	−0.0080%	1h	119.64	+0.105%	$848	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.55	+0.029%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.57	+0.044%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.67	+0.125%	$113K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.64	+0.101%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.72	+0.167%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.58	+0.051%	$177K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0031%	1h	119.70	+0.155%	$26.8M	$26.0M	50x	as long as short
ApeX Omni SOLUSDT	+0.0045%	1h	119.83	+0.260%	$1.5M	$6.2M	50x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.60	+0.068%	$104K	$157K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0071%	8h	119.67	+0.125%	$1.1M	$5.9M	100x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.59	+0.057%	—	$371.8M	—	as long as short
HTX SOL-USDT	+0.0089%	8h	119.54	+0.020%	$232.7M	$45.1M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	119.59	+0.060%	$871.9M	$674.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.64	+0.106%	$13.7M	$55.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.64	+0.106%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.61	+0.078%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.68	+0.133%	$8.3M	$419.1M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.62	+0.087%	$1.1M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.59	+0.060%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.63	+0.097%	$6.1M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.69	+0.143%	$725.1M	$410.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.62	+0.082%	$179.1M	$175.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.67	+0.123%	$12.4M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.58	+0.047%	$985.3M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.59	+0.062%	$831.2M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.57	+0.043%	$373.3M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.66	+0.118%	$234K	$875K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.63	+0.090%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.65	+0.110%	$134.3M	$6.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.60	+0.068%	$457.1M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.66	+0.119%	$139.8M	$203.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.57	+0.041%	$497.9M	$456.1M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.64	+0.101%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	119.52	long leg	$27.4M	$128.6M	—
edgeX SOLUSDC	+0.0100%	4h	119.65	+0.110%	$96.1M	$401.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.76	+0.201%	$49.0M	$31.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.64	+0.101%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.57	+0.043%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.65	+0.106%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.68	+0.136%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.64	+0.105%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.65	+0.110%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.64	+0.101%	$46.7M	$102.5M	50x	as long as short
Phoenix SOL	+0.0100%	1h	119.88	+0.302%	$6.6M	$13.7M	25x	as long as short
Aftermath Perps SOLUSD	+0.0103%	1h	119.62	+0.086%	$24K	$47K	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.55	+0.028%	$8.7M	$35.9M	50x	as long as short
Hibachi SOL/USDT-P	+0.0104%	1h	119.69	+0.147%	$122K	$639K	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	119.67	+0.122%	$32.7M	$97.0M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.66	+0.122%	—	$224.6M	500x	as long as short
Injective SOL/USDC PERPshort	+0.0170%	1h	119.02	−0.417%	$4K	$2K	12x
Reya SOLRUSDPERP	+0.0183%	1h	119.55	+0.028%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.64	+0.101%	$52.0M	$84.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.61	+0.080%	$1.7M	$5.2M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0241% / S −0.0186%	1h	119.66	+0.119%	$3.8M	—	200x	as long as short