Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.063%

Price spread now: Bybit against Hibachi−0.089%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Hibachi Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.280%−$28 · spread now −0.089%, 7d avg −0.040%

Together, before fees−0.296%+ Points / potential airdropHibachi: Active · farm board−$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.049% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of −0.040%). If the spread goes back, that is −$5 on $10k: about 3.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	119.00	0.0056	pay 0.0007% / 1h	12m 09s	$119K	$612K	20x
Short	Bybit SOLUSDT	118.89	0.0100	get 0.0100% / 8h	1h 12m	$826.6M	$1.28B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hibachi. 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 HibachibpFee BybitbpOrdersPrice spread, now −0.089%Rate

Funding earned: $9.24
Price spread: −0.089% → −0.040%: −$4.87
Slippage, 4 orders: −$5.12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$20.75
Costs to cover: 0.251%
Break-even: 22.7 days

Slippage from Hibachi: live order book, 7 min ago; Bybit: live order book, 2 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, 7 min ago	0.84 bp	6.6 bp −$7	17.3 bp −$173	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.42 bp	5.9 bp −$6	6.7 bp −$67	11.0 bp −$1,098	19.0 bp −$9,521

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
Bluefin SOL-PERP	−0.0287%	1h	118.91	−0.076%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0107%	1h	118.83	−0.145%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.93	−0.056%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0066%	1h	118.91	−0.075%	—	$722K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.92	−0.068%	$112K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	118.95	−0.044%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.98	−0.018%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.94	−0.051%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.28	+0.237%	$6.5M	$13.6M	25x	as long as short
Hibachi SOL/USDT-Plong	+0.0056%	1h	119.00	long leg	$119K	$612K	20x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0069%	8h	118.91	−0.072%	$1.0M	$5.9M	100x	as long as short
Aftermath Perps SOLUSD	+0.0069%	1h	119.16	+0.139%	$24K	$47K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.97	−0.024%	$104K	$155K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0078%	1h	118.96	−0.029%	$26.6M	$27.7M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.93	−0.056%	—	$374.1M	—	as long as short
HTX SOL-USDT	+0.0080%	8h	118.89	−0.094%	$231.4M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0090%	8h	118.91	−0.074%	$868.7M	$687.4M	100x	as long as short
Lighter SOL	+0.0096%	1h	118.90	−0.084%	$13.6M	$56.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	118.88	−0.099%	$2.2M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.90	−0.086%	$352K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.91	−0.073%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.95	−0.040%	$46K	$798K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.92	−0.063%	$6.1M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.02	+0.018%	$717.0M	$417.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.89	−0.094%	$178.0M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.98	−0.015%	$12.3M	$118.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.89	−0.088%	$979.8M	$3.81B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	118.89	−0.089%	$826.6M	$1.28B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	118.81	−0.158%	$371.7M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.98	−0.015%	$233K	$883K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.98	−0.013%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.28	+0.239%	$133.9M	$7.8M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.87	−0.108%	$453.5M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.91	−0.076%	$139.8M	$201.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.89	−0.092%	$494.4M	$456.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.00	+0.002%	$24.1M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.22	+0.187%	$27.3M	$128.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.23	+0.197%	$95.8M	$401.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.17	+0.144%	$48.8M	$31.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.19	+0.162%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	118.98	−0.015%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.93	−0.057%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.91	−0.073%	$200K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.90	−0.084%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.90	−0.082%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.92	−0.066%	$46.5M	$102.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.87	−0.111%	$8.7M	$36.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.92	−0.063%	$8.2M	$415.5M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.95	−0.039%	—	$224.5M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0150%	1h	118.91	−0.072%	$32.6M	$97.0M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0170% / S −0.0072%	1h	118.91	−0.071%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	118.92	−0.065%	$1.1M	$552K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	118.98	−0.014%	$1.7M	$5.8M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.38	+0.321%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.98	−0.015%	$52.0M	$82.7M	125x	as long as short