Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.064%
Price spread now: Backpack against Hibachi+0.145%7-day average −0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$2as in the Price arb table
costs, in and out, $10k−$210.210% of the position
Funding, last 7 days+0.099%+$10 on $10k
+Price spread, last 3 days (all we have)−0.667%−$67 · spread now +0.145%, 7d avg −0.044%
=Together, before fees−0.568%+ Points / potential airdropHibachi: Active · farm board−$57 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Backpack is 0.189% dearer against Hibachi than usual: you sell high and buy low: +$19 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 | Hibachi SOL/USDT-P | 119.35 | 0 | get 0.0000% / 1h | 55m 06s | $120K | $625K | 20x |
| Short | Backpack SOL_USDC_PERP | 119.52 | 0.0100 | get 0.0013% / 1h | 55m 06s | $24.2M | $38.7M | 50x |
Hibachi SOL/USDT-P
Backpack SOL_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Hibachi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $21
- Price spread: +0.145% → −0.044%
- $18.88
- Slippage, 4 orders
- −$1.96
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $18.92
- Costs to cover
- 0.210%
- Break-even
- 0.7 days
Slippage from Hibachi: live order book, 29 min ago; Backpack: live order book, 4 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 Hibachi live order book, 29 min ago | 0.50 bp | 5.0 bp −$5 | 20.3 bp −$203 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.42 bp | 5.4 bp −$5 | 6.1 bp −$61 | 8.3 bp −$829 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Derive SOL-PERP | −0.0094% | 1h | 119.39 | +0.036% | $2.0M | $3.1M | 13x | as long as short |
| Hotstuff SOL-PERP | −0.0080% | 1h | 119.44 | +0.076% | $847 | $8K | 25x | as long as short |
| Vest SOL-PERP | −0.0063% | 1h | 119.41 | +0.051% | — | $724K | 20x | as long as short |
| dYdX SOL-USD | −0.0008% | 1h | 119.40 | +0.044% | $4.9M | $27.2M | 20x | as long as short |
| gTrade (Gains Network) SOL/USD | L 0.0000% / S +0.0004% | 1h | 119.49 | +0.122% | $54K | — | 150x | as long as short |
| Kalshi KXSOLPERP | 0.0000% | 8h | 119.36 | +0.009% | $1.2M | $20.7M | 3.1x | as long as short |
| Hibachi SOL/USDT-Plong | 0.0000% | 1h | 119.35 | long leg | $120K | $625K | 20x | |
| Perpl SOL | 0.0000% | 43m | 119.53 | +0.158% | $179K | $4.0M | 8.3x | as long as short |
| Deribit SOL_USDC-PERPETUAL | +0.0018% | 1h | 119.55 | +0.173% | $26.8M | $27.6M | 50x | as long as short |
| Aftermath Perps SOLUSD | +0.0057% | 1h | 119.28 | −0.058% | $24K | $47K | 20x | as long as short |
Derive SOL-PERP
Hotstuff SOL-PERP
Vest SOL-PERP
dYdX SOL-USD
gTrade (Gains Network) SOL/USD
Kalshi KXSOLPERP
Perpl SOL
Deribit SOL_USDC-PERPETUAL
Aftermath Perps SOLUSDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_SOL_USDC | +0.0064% | 8h | 119.49 | +0.121% | $1.1M | $5.9M | 100x | as long as short |
| HTX SOL-USDT | +0.0068% | 8h | 119.47 | +0.099% | $232.7M | $44.7M | 75x | as long as short |
| BingX SOL-USDC | +0.0080% | 8h | 119.51 | +0.137% | — | $10.5M | — | as long as short |
| 01 Exchange SOLUSD | +0.0088% | 1h | 119.56 | +0.179% | $104K | $153K | 20x | as long as short |
| Gate SOL_USDT | +0.0094% | 8h | 119.50 | +0.128% | $870.4M | $675.2M | 100x | as long as short |
| Lighter SOL | +0.0096% | 1h | 119.50 | +0.127% | $13.7M | $54.8M | 25x | as long as short |
| Lighter RH SOL | +0.0096% | 1h | 119.50 | +0.124% | $2.1M | $16.7M | 25x | as long as short |
| Aevo SOL-PERP | +0.0096% | 1h | 119.46 | +0.096% | $354K | $748K | 20x | as long as short |
| Paradex SOL-USD-PERP | +0.0099% | 8h | 119.35 | +0.004% | $1.0M | $523K | 50x | as long as short |
| Katana Perps SOL-USD | +0.0100% | 8h | 119.43 | +0.070% | $46K | $791K | 20x | as long as short |
| Nado SOL-PERP | +0.0100% | 1h | 119.48 | +0.112% | $6.3M | $42.0M | 40x | as long as short |
| Hyperliquid SOL | +0.0100% | 1h | 119.62 | +0.229% | $721.7M | $415.9M | 20x | as long as short |
| Aster SOLUSDT | +0.0100% | 8h | 119.48 | +0.108% | $179.2M | $176.6M | 100x | as long as short |
| Pacifica SOL | +0.0100% | 1h | 119.42 | +0.063% | $12.4M | $116.2M | 20x | as long as short |
| Binance SOLUSDT | +0.0100% | 8h | 119.50 | +0.127% | $979.6M | $3.79B | 100x | as long as short |
| Bybit SOLUSDT | +0.0100% | 8h | 119.55 | +0.167% | $825.6M | $1.27B | 100x | as long as short |
| OKX SOL-USDT-SWAP | +0.0100% | 8h | 119.50 | +0.128% | $372.9M | $1.72B | 100x | as long as short |
| Ondo Perps SOL-USD.P | +0.0100% | 1h | 119.38 | +0.028% | $233K | $877K | 10x | as long as short |
| Arcus SOL-USD | +0.0100% | 1h | 119.47 | +0.101% | $2.0M | $8.9M | 20x | as long as short |
| Bulk SOL-USD | +0.0100% | 1h | 119.05 | −0.246% | $133.5M | $10.2M | 20x | as long as short |
| MEXC SOL_USDT | +0.0100% | 8h | 119.49 | +0.120% | $436.8M | $1.10B | 300x | as long as short |
| KuCoin SOLUSDTM | +0.0100% | 8h | 119.50 | +0.130% | $141.0M | $199.1M | 75x | as long as short |
| Bitget SOLUSDT | +0.0100% | 8h | 119.51 | +0.138% | $498.2M | $454.3M | 100x | as long as short |
| Backpack SOL_USDC_PERPshort | +0.0100% | 1h | 119.52 | +0.145% | $24.2M | $38.7M | 50x | |
| Variational Omni SOL | +0.0100% | 8h | 119.31 | −0.027% | $27.4M | $127.7M | — | as long as short |
| edgeX SOLUSDC | +0.0100% | 4h | 119.12 | −0.188% | $95.7M | $396.6M | 75x | as long as short |
| GRVT SOL_USDT_Perp | +0.0100% | 8h | 119.21 | −0.117% | $48.8M | $32.7M | 20x | as long as short |
| ApeX Omni SOLUSDT | +0.0100% | 1h | 119.13 | −0.182% | $1.5M | $6.2M | 50x | as long as short |
| StandX SOL-USD | +0.0100% | 1h | 119.17 | −0.148% | $1.4M | $13.3M | 30x | as long as short |
| Polymarket Perps SOL-USD | +0.0100% | 1h | 119.51 | +0.137% | $366K | $2.4M | 20x | as long as short |
| Bullet SOL-USD | +0.0100% | 1h | 119.47 | +0.106% | $203K | $1.7M | 20x | as long as short |
| Bluefin SOL-PERP | +0.0100% | 1h | 119.49 | +0.117% | $38K | $16K | 25x | as long as short |
| SunX SOL-USDT | +0.0100% | 8h | 119.46 | +0.091% | $194K | $1.9M | 30x | as long as short |
| SoDEX SOL-USD | +0.0100% | 1h | 119.50 | +0.128% | $6.3M | $10.8M | 20x | as long as short |
| Phemex SOLUSDT | +0.0100% | 8h | 119.48 | +0.112% | $46.7M | $102.2M | 50x | as long as short |
| Extended SOL-USD | +0.0104% | 1h | 119.48 | +0.108% | $8.7M | $36.6M | 50x | as long as short |
| Coinbase International SOL-PERP-INTX | +0.0112% | 1h | 119.55 | +0.168% | $8.2M | $417.2M | 50x | as long as short |
| Jupiter Perps SOL-PERP | L +0.0120% / S +0.0048% | 1h | 119.35 | 0.000% | — | $222.2M | 500x | as long as short |
| Kraken Futures PF_SOLUSD | +0.0149% | 1h | 119.52 | +0.144% | $32.8M | $94.8M | 100x | as long as short |
| Phoenix SOL | +0.0154% | 1h | 119.37 | +0.019% | $6.6M | $13.6M | 25x | as long as short |
| GMX SOL/USD [SOL-USDC] | L +0.0171% / S −0.0089% | 1h | 119.48 | +0.115% | $3.6M | — | 200x | as long as short |
| Reya SOLRUSDPERP | +0.0180% | 1h | 119.51 | +0.139% | $1.1M | $558K | 25x | as long as short |
| RISEx SOL/USDC | +0.0192% | 1h | 119.48 | +0.112% | $1.6M | $6.0M | 20x | as long as short |
| Injective SOL/USDC PERP | +0.0213% | 1h | 119.41 | +0.053% | $4K | $2K | 12x | as long as short |
| BloFin SOL-USDT | +0.0220% | 8h | 119.48 | +0.112% | $52.0M | $87.2M | 125x | as long as short |
Orderly PERP_SOL_USDC
HTX SOL-USDT
BingX SOL-USDC
01 Exchange SOLUSD
Gate SOL_USDT
Lighter SOL
Lighter RH SOL
Aevo SOL-PERP
Paradex SOL-USD-PERP
Katana Perps SOL-USD
Nado SOL-PERP
Hyperliquid SOL
Aster SOLUSDT
Pacifica SOL
Binance SOLUSDT
Bybit SOLUSDT
OKX SOL-USDT-SWAP
Ondo Perps SOL-USD.P
Arcus SOL-USD
Bulk SOL-USD
MEXC SOL_USDT
KuCoin SOLUSDTM
Bitget SOLUSDT
Variational Omni SOL
edgeX SOLUSDC
GRVT SOL_USDT_Perp
ApeX Omni SOLUSDT
StandX SOL-USD
Polymarket Perps SOL-USD
Bullet SOL-USD
Bluefin SOL-PERP
SunX SOL-USDT
SoDEX SOL-USD
Phemex SOLUSDT
Extended SOL-USD
Coinbase International SOL-PERP-INTX
Jupiter Perps SOL-PERP
Kraken Futures PF_SOLUSD
Phoenix SOL
GMX SOL/USD [SOL-USDC]
Reya SOLRUSDPERP
RISEx SOL/USDC
Injective SOL/USDC PERP
BloFin SOL-USDT