Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.069%

Price spread now: Hibachi against BingX+0.097%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$240.235% of the position

Long on BingX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 3 days (all we have)+0.725%+$73 · spread now +0.097%, 7d avg +0.044%

Together, before fees+0.695%+ Points / potential airdropHibachi: Active · farm board+$69 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hibachi is 0.053% dearer against BingX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDT	118.75	0.0100	pay 0.0100% / 8h	3h 27m	—	$367.5M	—
Short	Hibachi SOL/USDT-P	118.86	0.0136	get 0.0017% / 1h	27m 21s	$122K	$590K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against BingX. 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 BingXbpFee HibachibpOrdersPrice spread, now +0.097%Rate

Funding earned: $7.56
Price spread: +0.097% → +0.044%: $5.26
Slippage, 4 orders: −$4.53
Fee BingX: 5 bp × 2 orders: −$10
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$10.72
Costs to cover: 0.235%
Break-even: 16.9 days

Slippage from BingX: live order book, 22 min ago; Hibachi: live order book, 1 min ago.

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 BingX live order book, 22 min ago	0.80 bp	5.8 bp −$6	5.8 bp −$58	6.9 bp −$695	9.1 bp −$4,548
Sell Hibachi live order book, 1 min ago	0.76 bp	5.6 bp −$6	27.0 bp −$270	doesn't fit	doesn't fit

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
Vest SOL-PERP	−0.0096%	1h	118.73	−0.017%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.75	+0.003%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0071%	1h	119.00	+0.210%	$24K	$48K	20x	as long as short
dYdX SOL-USD	−0.0017%	1h	118.86	+0.096%	$4.9M	$26.7M	20x	as long as short
Derive SOL-PERP	−0.0001%	1h	118.69	−0.046%	$1.9M	$3.0M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.79	+0.039%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.90	+0.134%	$1.2M	$21.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.88	+0.109%	$195K	$4.1M	8.3x	as long as short
01 Exchange SOLUSD	+0.0024%	1h	118.88	+0.113%	$104K	$154K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0039%	1h	118.84	+0.079%	$26.6M	$27.8M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0049%	8h	118.71	−0.032%	$231.3M	$43.3M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0055%	8h	118.76	+0.010%	$1.1M	$5.8M	100x	as long as short
KuCoin SOLUSDTM	+0.0068%	8h	118.75	+0.002%	$136.1M	$183.1M	75x	as long as short
Gate SOL_USDT	+0.0078%	8h	118.83	+0.071%	$856.9M	$675.8M	100x	as long as short
Bitget SOLUSDT	+0.0081%	8h	118.75	+0.008%	$496.4M	$448.7M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.77	+0.020%	$13.4M	$51.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.76	+0.015%	$2.0M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.73	−0.010%	$353K	$749K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	118.79	+0.036%	$1.0M	$515K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.87	+0.104%	$48K	$778K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.81	+0.050%	$5.5M	$40.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.87	+0.104%	$717.6M	$438.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.73	−0.016%	$179.4M	$173.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.80	+0.050%	$13.4M	$109.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.76	+0.008%	$974.5M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.79	+0.037%	$818.4M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.77	+0.020%	$366.4M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.76	+0.012%	$234K	$858K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.90	+0.133%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.26	+0.430%	$133.2M	$15.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.75	+0.003%	$476.4M	$1.05B	300x	as long as short
BingX SOL-USDTlong	+0.0100%	8h	118.75	long leg	—	$367.5M	—
Backpack SOL_USDC_PERP	+0.0100%	1h	118.81	+0.054%	$24.4M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.18	+0.368%	$27.8M	$120.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.87	+0.103%	$95.5M	$391.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.74	−0.008%	$48.6M	$33.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.76	+0.012%	$1.5M	$6.3M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.83	+0.071%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.79	+0.037%	$360K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.74	−0.008%	$200K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.77	+0.017%	$37K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.77	+0.022%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.76	+0.012%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.78	+0.029%	$46.3M	$99.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.73	−0.011%	$8.6M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	118.81	+0.057%	$8.0M	$408.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.81	+0.054%	—	$216.9M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0131%	1h	118.81	+0.055%	$36.3M	$90.6M	100x	as long as short
Hibachi SOL/USDT-Pshort	+0.0136%	1h	118.86	+0.097%	$122K	$590K	20x
Phoenix SOL	+0.0149%	1h	119.25	+0.424%	$7.3M	$11.3M	25x	as long as short
RISEx SOL/USDC	+0.0160%	1h	118.89	+0.120%	$1.6M	$6.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	118.76	+0.008%	$1.1M	$555K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.89	+0.121%	$51.4M	$89.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0181%	1h	118.77	+0.018%	$3.5M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0533%	1h	119.06	+0.264%	$4K	$2K	12x	as long as short