Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h +0.029%

Price spread now: Hibachi against BloFin−0.058%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$230.228% of the position

Long on BloFin Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 3 days (all we have)+0.300%+$30 · spread now −0.058%, 7d avg +0.027%

Together, before fees+0.040%+ Points / potential airdropHibachi: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hibachi is 0.085% cheaper against BloFin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SOL-USDT	119.59	0.0220	pay 0.0220% / 8h	2h 23m	$51.8M	$86.4M	125x
Short	Hibachi SOL/USDT-P	119.52	0.0064	get 0.0008% / 1h	23m 17s	$122K	$602K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against BloFin. 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 BloFinbpFee HibachibpOrdersPrice spread, now −0.058%Rate

Funding earned: −$32.76
Price spread: −0.058% → +0.027%: −$8.49
Slippage, 4 orders: −$1.84
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$64.1
Costs to cover: 0.228%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 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 BloFin live order book, 6 min ago	0.42 bp	6.4 bp −$6	6.4 bp −$64	8.5 bp −$851	16.1 bp −$8,062
Sell Hibachi live order book, 1 min ago	0.50 bp	5.0 bp −$5	21.7 bp −$217	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	119.15	−0.368%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.66	+0.056%	$848	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	119.54	−0.045%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0047%	1h	119.50	−0.078%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.67	+0.065%	$4.9M	$26.9M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.57	−0.017%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.60	+0.008%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.63	+0.029%	$180K	$4.0M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0012%	1h	119.36	−0.190%	$24K	$47K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0027%	1h	119.64	+0.041%	$26.8M	$27.7M	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	+0.0057%	8h	119.49	−0.080%	$232.7M	$44.5M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0061%	8h	119.59	+0.004%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-Pshort	+0.0064%	1h	119.52	−0.058%	$122K	$602K	20x
01 Exchange SOLUSD	+0.0072%	1h	119.60	+0.008%	$105K	$152K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.56	−0.029%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0086%	8h	119.57	−0.017%	$873.3M	$684.5M	100x	as long as short
ApeX Omni SOLUSDT	+0.0091%	1h	119.29	−0.251%	$1.5M	$6.2M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.59	+0.003%	$13.6M	$54.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.58	−0.006%	$2.1M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.58	−0.010%	$355K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.58	−0.005%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.57	−0.017%	$47K	$787K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.56	−0.023%	$6.5M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.66	+0.059%	$722.2M	$410.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.59	−0.002%	$180.1M	$175.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.63	+0.036%	$12.4M	$114.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.59	0.000%	$977.0M	$3.76B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.59	+0.003%	$829.3M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.57	−0.017%	$372.4M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.61	+0.017%	$234K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.64	+0.042%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.54	−0.042%	$444.3M	$1.09B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.59	0.000%	$142.8M	$196.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.57	−0.016%	$499.7M	$450.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.69	+0.084%	$24.5M	$38.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.50	−0.075%	$27.5M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.25	−0.281%	$95.8M	$398.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.36	−0.192%	$48.8M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.56	−0.025%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.57	−0.017%	$367K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.55	−0.035%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.57	−0.014%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.55	−0.037%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.58	−0.008%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.56	−0.025%	$46.7M	$100.8M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.98	−0.509%	$133.4M	$11.1M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.55	−0.031%	$8.8M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.65	+0.050%	$8.2M	$417.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.57	−0.014%	—	$218.5M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.53	−0.050%	$6.6M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.63	+0.036%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0179%	1h	119.55	−0.037%	$1.1M	$555K	25x	as long as short
BloFin SOL-USDTlong	+0.0220%	8h	119.59	long leg	$51.8M	$86.4M	125x
Kraken Futures PF_SOLUSD	+0.0222%	1h	119.62	+0.025%	$36.1M	$89.6M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0174%	1h	119.56	−0.023%	$3.6M	—	200x	as long as short