Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h +0.084%

Price spread now: Hibachi against GRVT+0.006%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on GRVT Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 3 days (all we have)+0.332%+$33 · spread now +0.006%, 7d avg +0.034%

Together, before fees+0.300%+ Points / potential airdropGRVT: Active · Hibachi: Active · farm board+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hibachi is 0.028% cheaper against GRVT than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SOL_USDT_Perp	119.12	0.0100	pay 0.0100% / 8h	2h 32m	$48.8M	$33.4M	20x
Short	Hibachi SOL/USDT-P	119.13	0.0072	get 0.0009% / 1h	32m 40s	$123K	$600K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against GRVT. 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 GRVTbpFee HibachibpOrdersPrice spread, now +0.006%Rate

Funding earned: −$5.88
Price spread: +0.006% → +0.034%: −$2.81
Slippage, 4 orders: −$3.77
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$30.46
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; Hibachi: live order book, 56 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 GRVT live order book, 2 min ago	0.42 bp	4.9 bp −$5	5.3 bp −$53	9.1 bp −$910	doesn't fit
Sell Hibachi live order book, 56 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	−0.193%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.87	−0.209%	$2.0M	$3.2M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.06	−0.049%	$844	$8K	25x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.94	−0.152%	—	$724K	20x	as long as short
Aftermath Perps SOLUSD	−0.0012%	1h	118.98	−0.119%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.98	−0.121%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.99	−0.109%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.96	−0.134%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.05	−0.062%	$26.7M	$27.7M	50x	as long as short
dYdX SOL-USD	0.0000%	1h	119.05	−0.061%	$4.9M	$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
Orderly PERP_SOL_USDC	+0.0060%	8h	118.97	−0.125%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0064%	8h	118.87	−0.214%	$231.6M	$43.6M	75x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.05	−0.059%	$104K	$152K	20x	as long as short
Hibachi SOL/USDT-Pshort	+0.0072%	1h	119.13	+0.006%	$123K	$600K	20x
ApeX Omni SOLUSDT	+0.0075%	1h	119.12	−0.001%	$1.5M	$6.2M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.05	−0.057%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0085%	8h	119.04	−0.067%	$869.1M	$681.3M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.07	−0.041%	$13.4M	$53.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.07	−0.043%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.99	−0.113%	$354K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.03	−0.074%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.02	−0.084%	$45K	$781K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.94	−0.151%	$5.5M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.16	+0.033%	$718.9M	$414.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.05	−0.061%	$179.7M	$174.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.10	−0.017%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.02	−0.083%	$972.1M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.05	−0.059%	$825.4M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.03	−0.076%	$370.9M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.96	−0.135%	$234K	$867K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.11	−0.011%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.06	−0.051%	$474.3M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.08	−0.034%	$143.0M	$196.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.05	−0.060%	$496.8M	$448.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.01	−0.093%	$24.4M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.00	−0.100%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.99	−0.107%	$95.6M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perplong	+0.0100%	8h	119.12	long leg	$48.8M	$33.4M	20x
StandX SOL-USD	+0.0100%	1h	119.06	−0.051%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.95	−0.143%	$364K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.94	−0.149%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.97	−0.122%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.94	−0.152%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.98	−0.118%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.01	−0.093%	$46.5M	$100.0M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	−0.345%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.03	−0.079%	$8.7M	$36.9M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.03	−0.078%	$8.1M	$414.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.96	−0.133%	—	$216.8M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.03	−0.076%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.08	−0.030%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.94	−0.148%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.98	−0.118%	$51.7M	$86.9M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	119.02	−0.080%	$36.0M	$89.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.97	−0.125%	$3.6M	—	200x	as long as short