SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0184%/8h= −20.2% APRnext payment −$0.23 per $10,000 · paid last 24h −0.100%

Price spread now: Derive against Hibachi−0.112%52s7-day average −0.057% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now −0.112%, 7d avg −0.057%

Together, before fees−0.032%+ Points / potential airdropHibachi: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Derive is 0.055% cheaper against Hibachi than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.057%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.041% in total (about 2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	119.00	0.0080	pay 0.0010% / 1h	35m 35s	$122K	$600K	20x
Short	Derive SOL-PERP	118.86	−0.0104	pay 0.0013% / 1h	35m 35s	$2.0M	$3.2M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Hibachi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DerivebpOrdersPrice spread, now −0.112%Rate

Funding earned: −$38.71
Price spread: −0.112% → −0.057%: −$5.5
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$59.2
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hibachi: live order book, 53 min ago; Derive: no order-book sample. Net counts fees only.

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, 53 min ago	0.76 bp	6.3 bp −$6	19.6 bp −$196	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.089%	$4K	$2K	12x	as long as short
Derive SOL-PERPshort	−0.0104%	1h	118.86	−0.112%	$2.0M	$3.2M	13x
Hotstuff SOL-PERP	−0.0080%	1h	118.96	−0.033%	$843	$8K	25x	as long as short
Vest SOL-PERP	−0.0080%	1h	118.98	−0.011%	—	$724K	20x	as long as short
Aftermath Perps SOLUSD	−0.0022%	1h	118.90	−0.079%	$24K	$47K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.96	−0.031%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.02	+0.021%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.97	−0.023%	$180K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	118.99	−0.003%	$26.7M	$27.6M	50x	as long as short
dYdX SOL-USD	0.0000%	1h	119.00	0.000%	$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	118.96	−0.030%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0067%	8h	118.89	−0.091%	$231.6M	$43.6M	75x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.07	+0.062%	$104K	$152K	20x	as long as short
ApeX Omni SOLUSDT	+0.0075%	1h	119.12	+0.103%	$1.5M	$6.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.03	+0.024%	—	$371.8M	—	as long as short
Hibachi SOL/USDT-Plong	+0.0080%	1h	119.00	long leg	$122K	$600K	20x
Gate SOL_USDT	+0.0085%	8h	119.01	+0.012%	$867.5M	$680.3M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.01	+0.015%	$13.4M	$53.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.01	+0.011%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.95	−0.035%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.01	+0.014%	$1.0M	$524K	50x	as long as short
KuCoin SOLUSDTM	+0.0099%	8h	119.01	+0.008%	$143.2M	$196.4M	75x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.04	+0.037%	$45K	$780K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.04	+0.037%	$5.5M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.08	+0.071%	$717.9M	$413.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.03	+0.029%	$179.7M	$174.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.06	+0.050%	$12.4M	$114.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.05	+0.045%	$972.4M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.06	+0.054%	$822.9M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.04	+0.037%	$370.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.95	−0.039%	$234K	$863K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.09	+0.082%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.03	+0.029%	$468.4M	$1.08B	300x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.04	+0.036%	$496.9M	$448.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.96	−0.030%	$24.4M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.76	−0.202%	$27.4M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.71	−0.241%	$95.3M	$397.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.11	+0.094%	$48.7M	$33.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.01	+0.012%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.04	+0.037%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.96	−0.027%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.95	−0.039%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.97	−0.021%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.93	−0.055%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.98	−0.013%	$46.4M	$99.8M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.71	−0.241%	$133.1M	$11.8M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.02	+0.016%	$8.6M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.98	−0.012%	$8.1M	$414.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.98	−0.015%	—	$216.9M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.03	+0.029%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.08	+0.075%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.03	+0.033%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.12	+0.104%	$51.8M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.94	−0.046%	$36.0M	$89.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.98	−0.017%	$3.6M	—	200x	as long as short