Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.025%

Price spread now: GRVT against Hibachi−0.412%65s7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.224% of the position

Long on Hibachi Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now −0.412%, 7d avg −0.035%

Together, before fees−0.033%+ Points / potential airdropHibachi: Active · GRVT: Active · farm board−$3 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 GRVT is 0.377% cheaper against Hibachi than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of −0.035%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.057%, so the current rate has only just turned against you. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	116.67	0.0144	pay 0.0018% / 1h	22m 31s	$104K	$677K	20x
Short	GRVT SOL_USDT_Perp	116.18	0.0100	get 0.0100% / 8h	7h 22m	$47.6M	$27.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.412%Rate

Funding earned: −$9.24
Price spread: −0.412% → −0.035%: −$37.74
Slippage, 4 orders: −$4.36
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$69.33
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from Hibachi: live order book, 11 min ago; GRVT: live order book, 1 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, 11 min ago	0.22 bp	4.8 bp −$5	16.4 bp −$164	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	0.43 bp	5.7 bp −$6	6.1 bp −$61	11.0 bp −$1,101	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
Hotstuff SOL-PERP	−0.0080%	1h	116.67	+0.007%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	115.82	−0.720%	$1.8M	$2.9M	13x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.74	+0.063%	$32.4M	$103.8M	100x	as long as short
Bybit SOLUSDT	−0.0029%	8h	116.68	+0.015%	$730.1M	$1.37B	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.64	−0.021%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.66	−0.003%	$1.4M	$19.2M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.64	−0.018%	$100K	$3.2M	8.3x	as long as short
Vest SOL-PERP	+0.0003%	1h	116.67	0.000%	—	$640K	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.69	+0.024%	$481.9M	$438.9M	100x	as long as short
dYdX SOL-USD	+0.0039%	1h	116.76	+0.082%	$7.6M	$24.4M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.72	+0.051%	$7.8M	$389.8M	50x	as long as short
Aster SOLUSDT	+0.0052%	8h	116.73	+0.056%	$177.1M	$168.9M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0066%	8h	116.66	−0.004%	$1.0M	$5.7M	100x	as long as short
Phemex SOLUSDT	+0.0069%	8h	116.65	−0.013%	$45.3M	$102.9M	50x	as long as short
Gate SOL_USDT	+0.0079%	8h	116.73	+0.056%	$845.0M	$617.5M	100x	as long as short
SoDEX SOL-USD	+0.0087%	1h	116.69	+0.021%	$6.0M	$11.1M	20x	as long as short
Lighter SOL	+0.0096%	1h	116.73	+0.057%	$13.2M	$56.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.71	+0.039%	$2.2M	$14.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.64	−0.025%	$352K	$240K	20x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	116.73	+0.058%	$1.0M	$553K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.70	+0.030%	$59K	$897K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.73	+0.060%	$5.4M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.84	+0.150%	$701.8M	$387.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.77	+0.089%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.72	+0.047%	$962.8M	$3.79B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.71	+0.039%	$366.3M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.67	+0.004%	$217K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.75	+0.074%	$943K	$8.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.72	+0.047%	$410.2M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	+0.063%	$130.2M	$236.8M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.72	+0.044%	—	$368.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.67	+0.004%	$22.9M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.98	−0.585%	$24.7M	$104.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.15	−0.445%	$93.3M	$405.2M	75x	as long as short
GRVT SOL_USDT_Perpshort	+0.0100%	8h	116.18	−0.412%	$47.6M	$27.7M	20x
ApeX Omni SOLUSDT	+0.0100%	1h	116.01	−0.565%	$1.1M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.31	−0.304%	$1.3M	$10.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.74	+0.064%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.77	+0.090%	$282K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.51	−0.130%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.63	−0.027%	$225.8M	$50.2M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.76	−0.779%	$125.0M	$25.2M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.70	+0.028%	$8.1M	$35.5M	50x	as long as short
01 Exchange SOLUSD	+0.0104%	1h	116.76	+0.081%	$100K	$184K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.55	−0.094%	—	$227.4M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.08	−0.501%	$6.5M	$13.4M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0138%	1h	116.75	+0.074%	$26.2M	$21.2M	50x	as long as short
Hibachi SOL/USDT-Plong	+0.0144%	1h	116.67	long leg	$104K	$677K	20x
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.279%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.69	+0.026%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.66	−0.004%	$52.3M	$62.3M	125x	as long as short
Bluefin SOL-PERP	+0.0229%	1h	116.64	−0.018%	$27K	$36K	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.66	−0.007%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0403%	1h	116.24	−0.364%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.77	+0.093%	$2.2M	$4.8M	20x	as long as short