Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h +0.052%

Price spread now: Hibachi against Bybit+0.133%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Bybit Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.361%+$36 · spread now +0.133%, 7d avg +0.035%

Together, before fees+0.377%+ Points / potential airdropHibachi: Active · farm board+$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.097% dearer against Bybit than usual: you sell high and buy low (spread +0.133% now, against its 7-day average of +0.035%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	116.48	0.0100	pay 0.0100% / 8h	4h 49m	$792.2M	$1.33B	100x
Short	Hibachi SOL/USDT-P	116.63	−0.0024	pay 0.0003% / 1h	49m 40s	$103K	$700K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Bybit. 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 BybitbpFee HibachibpOrdersPrice spread, now +0.133%Rate

Funding earned: −$26.04
Price spread: +0.133% → +0.035%: $9.74
Slippage, 4 orders: −$3.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$40
Costs to cover: 0.237%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Hibachi: live order book, 9 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 Bybit live order book, 5 min ago	0.43 bp	5.9 bp −$6	6.5 bp −$65	9.3 bp −$933	13.2 bp −$6,595
Sell Hibachi live order book, 9 min ago	1.03 bp	5.5 bp −$6	27.6 bp −$276	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	−0.0081%	1h	116.56	+0.069%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.73	+0.215%	$913	$8K	25x	as long as short
Hibachi SOL/USDT-Pshort	−0.0024%	1h	116.63	+0.133%	$103K	$700K	20x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.60	+0.102%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.61	+0.115%	$1.4M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.56	+0.069%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.51	+0.026%	$1.9M	$2.8M	13x	as long as short
ApeX Omni SOLUSDT	+0.0017%	1h	116.69	+0.180%	$1.7M	$6.0M	50x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.61	+0.112%	$99K	$168K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.58	+0.082%	$7.6M	$403.9M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.56	+0.070%	$30.9M	$100.4M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0084%	1h	116.62	+0.120%	$26.3M	$25.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.59	+0.094%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.55	+0.058%	$13.0M	$59.6M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.53	+0.043%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.57	+0.080%	$342K	$236K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.61	+0.108%	$994K	$530K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.55	+0.060%	$48K	$858K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.55	+0.058%	$5.5M	$39.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.62	+0.120%	$706.3M	$395.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.53	+0.043%	$175.1M	$181.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.59	+0.096%	$15.7M	$129.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.55	+0.060%	$963.2M	$3.77B	100x	as long as short
Bybit SOLUSDTlong	+0.0100%	8h	116.48	long leg	$792.2M	$1.33B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	116.51	+0.026%	$364.0M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.47	−0.009%	$232K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.54	+0.048%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	+0.153%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.54	+0.052%	$846.8M	$653.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.54	+0.052%	$415.0M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.53	+0.047%	$126.2M	$216.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.49	+0.011%	$481.2M	$439.3M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.53	+0.047%	—	$365.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.54	+0.052%	$23.3M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.54	+0.055%	$24.4M	$114.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.65	+0.146%	$93.7M	$396.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.72	+0.203%	$47.7M	$29.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.62	+0.120%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.58	+0.086%	$331K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.59	+0.098%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.56	+0.069%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.59	+0.096%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.57	+0.077%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.64	+0.141%	$226.2M	$46.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.58	+0.086%	$45.6M	$101.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.47	−0.011%	$8.0M	$36.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.61	+0.108%	—	$221.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.927%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.76	+0.240%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.56	+0.066%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.67	+0.163%	$51.9M	$71.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.61	+0.109%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.61	+0.109%	$141K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0480%	1h	116.72	+0.206%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.67	+0.167%	$1.9M	$4.9M	20x	as long as short