Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.064%

Price spread now: Hibachi against Bitget−0.006%48s7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.247% of the position

Long on Bitget Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+0.529%+$53 · spread now −0.006%, 7d avg +0.051%

Together, before fees+0.540%+ Points / potential airdropHibachi: Active · farm board+$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Hibachi is 0.057% cheaper against Bitget than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.051%). Swap the legs. The two prices were read 48 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	Bitget SOLUSDT	118.80	0.0100	pay 0.0100% / 8h	2h 38m	$496.0M	$448.3M	100x
Short	Hibachi SOL/USDT-P	118.79	0.0088	get 0.0011% / 1h	38m 31s	$123K	$606K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Bitget. 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 BitgetbpFee HibachibpOrdersPrice spread, now −0.006%Rate

Funding earned: −$2.52
Price spread: −0.006% → +0.051%: −$5.66
Slippage, 4 orders: −$3.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$32.87
Costs to cover: 0.247%
Break-even: never at this rate

Slippage from Bitget: live order book, 6 min ago; Hibachi: live order book, 50 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 Bitget live order book, 6 min ago	0.04 bp	6.1 bp −$6	7.8 bp −$78	12.0 bp −$1,197	doesn't fit
Sell Hibachi live order book, 50 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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	+0.076%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.61	−0.157%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.64	−0.139%	—	$724K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.72	−0.065%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0033%	1h	118.81	+0.009%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.70	−0.086%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.70	−0.083%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.65	−0.125%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	118.73	−0.055%	$26.6M	$27.7M	50x	as long as short
dYdX SOL-USD	0.0000%	1h	118.81	+0.008%	$4.8M	$26.9M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni SOLUSDT	+0.0042%	1h	118.74	−0.051%	$1.5M	$6.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0060%	8h	118.70	−0.083%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0068%	8h	118.58	−0.182%	$231.0M	$43.6M	75x	as long as short
BingX SOL-USDC	+0.0070%	8h	118.77	−0.024%	—	$10.4M	—	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.89	+0.076%	$105K	$151K	20x	as long as short
Gate SOL_USDT	+0.0083%	8h	118.79	−0.008%	$858.1M	$678.7M	100x	as long as short
Hibachi SOL/USDT-Pshort	+0.0088%	1h	118.79	−0.006%	$123K	$606K	20x
Lighter SOL	+0.0096%	1h	118.75	−0.040%	$13.4M	$53.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.74	−0.047%	$2.0M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.67	−0.109%	$353K	$741K	20x	as long as short
KuCoin SOLUSDTM	+0.0097%	8h	118.77	−0.022%	$143.3M	$196.6M	75x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.79	−0.012%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.84	+0.034%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.74	−0.047%	$5.5M	$40.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.84	+0.034%	$716.5M	$412.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.78	−0.019%	$178.9M	$174.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.82	+0.015%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.85	+0.042%	$971.7M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.86	+0.051%	$822.0M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.82	+0.017%	$369.6M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.76	−0.034%	$233K	$861K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.87	+0.056%	$1.9M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.80	0.000%	$467.1M	$1.08B	300x	as long as short
Bitget SOLUSDTlong	+0.0100%	8h	118.80	long leg	$496.0M	$448.3M	100x
Backpack SOL_USDC_PERP	+0.0100%	1h	118.68	−0.101%	$24.2M	$38.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.76	−0.037%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.71	−0.074%	$95.3M	$397.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.74	−0.048%	$48.6M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.80	0.000%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.65	−0.126%	$363K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.67	−0.105%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.68	−0.104%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.67	−0.107%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.64	−0.135%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.64	−0.135%	$46.3M	$99.9M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	−0.076%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	118.78	−0.014%	$8.6M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.68	−0.103%	$8.1M	$413.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.67	−0.107%	—	$217.3M	500x	as long as short
Phoenix SOL	+0.0154%	1h	118.79	−0.008%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0091%	1h	118.70	−0.086%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.89	+0.077%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.65	−0.127%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.63	−0.143%	$51.6M	$86.7M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.66	−0.114%	$36.0M	$89.7M	100x	as long as short