Funding you earn now, next payment 05:00 UTC+0.0260%/8h= +28.5% APRnext payment +$0.33 per $10,000 · paid last 24h −0.044%
Price spread now: Hyperliquid against Hibachi+0.115%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Funding, last 7 days+0.048%+$5 on $10k
+Price spread, last 4 days (all we have)−0.461%−$46 · spread now +0.115%, 7d avg +0.014%
=Together, before fees−0.413%+ Points / potential airdropHibachi: Active · Hyperliquid: Season 2 · farm board−$41 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Hyperliquid is 0.101% dearer against Hibachi than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.014%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.048% in total (about 2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 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 | 116.76 | −0.0160 | get 0.0020% / 1h | 32m 39s | $103K | $699K | 20x |
| Short | Hyperliquid SOL | 116.89 | 0.0100 | get 0.0013% / 1h | 32m 39s | $705.6M | $394.5M | 20x |
Hibachi SOL/USDT-P
Hyperliquid SOLFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $54.6
- Price spread: +0.115% → +0.014%
- $10.11
- Slippage, 4 orders
- −$4.74
- Fee Hibachi: 4.5 bp × 2 orders
- −$9
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $41.97
- Costs to cover
- 0.227%
- Break-even
- 1.6 days
Slippage from Hibachi: live order book, 21 min ago; Hyperliquid: live order book, 11 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, 21 min ago | 1.15 bp | 6.4 bp −$6 | 18.1 bp −$181 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.43 bp | 4.9 bp −$5 | 6.2 bp −$62 | 9.7 bp −$968 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SOLUSD | −0.0193% | 1h | 116.79 | +0.032% | $31.0M | $101.0M | 100x | as long as short |
| Hibachi SOL/USDT-Plong | −0.0160% | 1h | 116.76 | long leg | $103K | $699K | 20x | |
| Vest SOL-PERP | −0.0088% | 1h | 116.72 | −0.028% | — | $601K | 20x | as long as short |
| Hotstuff SOL-PERP | −0.0080% | 1h | 116.77 | +0.014% | $1K | $8K | 25x | as long as short |
| gTrade (Gains Network) SOL/USD | L −0.0001% / S +0.0004% | 1h | 116.79 | +0.028% | $54K | — | 150x | as long as short |
| Kalshi KXSOLPERP | 0.0000% | 8h | 116.80 | +0.040% | $1.5M | $19.0M | 3.1x | as long as short |
| dYdX SOL-USD | +0.0009% | 1h | 116.82 | +0.055% | $4.4M | $24.2M | 20x | as long as short |
| Bybit SOLUSDT | +0.0029% | 8h | 116.66 | −0.086% | $762.3M | $1.38B | 100x | as long as short |
| Derive SOL-PERP | +0.0032% | 1h | 116.74 | −0.009% | $1.9M | $2.9M | 13x | as long as short |
| Coinbase International SOL-PERP-INTX | +0.0048% | 1h | 116.81 | +0.048% | $7.6M | $405.2M | 50x | as long as short |
Kraken Futures PF_SOLUSD
Vest SOL-PERP
Hotstuff SOL-PERP
gTrade (Gains Network) SOL/USD
Kalshi KXSOLPERP
dYdX SOL-USD
Bybit SOLUSDT
Derive SOL-PERP
Coinbase International SOL-PERP-INTXShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SOLUSD | +0.0072% | 1h | 116.78 | +0.021% | $99K | $174K | 20x | as long as short |
| Orderly PERP_SOL_USDC | +0.0093% | 8h | 116.81 | +0.048% | $1.0M | $5.9M | 100x | as long as short |
| Lighter SOL | +0.0096% | 1h | 116.81 | +0.042% | $13.1M | $60.1M | 25x | as long as short |
| Lighter RH SOL | +0.0096% | 1h | 116.80 | +0.034% | $2.2M | $16.8M | 25x | as long as short |
| Aevo SOL-PERP | +0.0096% | 1h | 116.81 | +0.046% | $348K | $244K | 20x | as long as short |
| Katana Perps SOL-USD | +0.0099% | 8h | 116.71 | −0.039% | $61K | $895K | 20x | as long as short |
| Paradex SOL-USD-PERP | +0.0100% | 8h | 116.80 | +0.038% | $1.0M | $551K | 50x | as long as short |
| Nado SOL-PERP | +0.0100% | 1h | 116.74 | −0.010% | $5.5M | $40.2M | 40x | as long as short |
| Hyperliquid SOLshort | +0.0100% | 1h | 116.89 | +0.115% | $705.6M | $394.5M | 20x | |
| Aster SOLUSDT | +0.0100% | 8h | 116.74 | −0.017% | $174.9M | $183.2M | 100x | as long as short |
| Pacifica SOL | +0.0100% | 1h | 116.83 | +0.068% | $15.8M | $130.1M | 20x | as long as short |
| Binance SOLUSDT | +0.0100% | 8h | 116.77 | +0.008% | $974.8M | $3.82B | 100x | as long as short |
| OKX SOL-USDT-SWAP | +0.0100% | 8h | 116.75 | −0.005% | $367.0M | $1.70B | 100x | as long as short |
| Ondo Perps SOL-USD.P | +0.0100% | 1h | 116.79 | +0.030% | $229K | $845K | 10x | as long as short |
| Arcus SOL-USD | +0.0100% | 1h | 116.79 | +0.030% | $922K | $8.8M | 20x | as long as short |
| Bulk SOL-USD | +0.0100% | 1h | 116.75 | −0.004% | $133.5M | $19.9M | 20x | as long as short |
| Gate SOL_USDT | +0.0100% | 8h | 116.78 | +0.021% | $853.1M | $662.2M | 100x | as long as short |
| MEXC SOL_USDT | +0.0100% | 8h | 116.78 | +0.021% | $366.7M | $1.08B | 300x | as long as short |
| KuCoin SOLUSDTM | +0.0100% | 8h | 116.79 | +0.033% | $129.3M | $223.1M | 75x | as long as short |
| Bitget SOLUSDT | +0.0100% | 8h | 116.74 | −0.013% | $481.7M | $444.8M | 100x | as long as short |
| BingX SOL-USDC | +0.0100% | 8h | 116.74 | −0.011% | — | $10.6M | — | as long as short |
| Backpack SOL_USDC_PERP | +0.0100% | 1h | 116.79 | +0.030% | $23.1M | $39.2M | 50x | as long as short |
| Variational Omni SOL | +0.0100% | 8h | 116.73 | −0.018% | $24.5M | $113.5M | — | as long as short |
| edgeX SOLUSDC | +0.0100% | 4h | 116.84 | +0.074% | $93.8M | $400.2M | 75x | as long as short |
| GRVT SOL_USDT_Perp | +0.0100% | 8h | 116.87 | +0.098% | $47.8M | $30.8M | 20x | as long as short |
| ApeX Omni SOLUSDT | +0.0100% | 1h | 116.97 | +0.186% | $1.2M | $6.7M | 50x | as long as short |
| StandX SOL-USD | +0.0100% | 1h | 116.80 | +0.038% | $1.3M | $12.7M | 30x | as long as short |
| Polymarket Perps SOL-USD | +0.0100% | 1h | 116.75 | −0.005% | $321K | $2.6M | 20x | as long as short |
| Bullet SOL-USD | +0.0100% | 1h | 116.77 | +0.013% | $147K | $1.6M | 20x | as long as short |
| Bluefin SOL-PERP | +0.0100% | 1h | 116.77 | +0.013% | $25K | $31K | 25x | as long as short |
| SunX SOL-USDT | +0.0100% | 8h | 116.76 | +0.005% | $190K | $1.8M | 30x | as long as short |
| SoDEX SOL-USD | +0.0100% | 1h | 116.79 | +0.030% | $6.1M | $10.8M | 20x | as long as short |
| HTX SOL-USDT | +0.0100% | 8h | 116.73 | −0.020% | $226.3M | $48.1M | 75x | as long as short |
| Phemex SOLUSDT | +0.0100% | 8h | 116.80 | +0.038% | $45.7M | $103.2M | 50x | as long as short |
| Extended SOL-USD | +0.0104% | 1h | 116.71 | −0.038% | $8.3M | $37.5M | 50x | as long as short |
| Injective SOL/USDC PERP | +0.0107% | 1h | 116.99 | +0.201% | $4K | $2K | 12x | as long as short |
| Jupiter Perps SOL-PERP | L +0.0120% / S +0.0048% | 1h | 116.75 | −0.005% | — | $231.5M | 500x | as long as short |
| Phoenix SOL | +0.0151% | 1h | 117.04 | +0.244% | $6.5M | $13.8M | 25x | as long as short |
| Reya SOLRUSDPERP | +0.0191% | 1h | 116.73 | −0.020% | $1.1M | $542K | 25x | as long as short |
| Deribit SOL_USDC-PERPETUAL | +0.0192% | 1h | 116.85 | +0.083% | $26.3M | $23.3M | 50x | as long as short |
| BloFin SOL-USDT | +0.0220% | 8h | 116.78 | +0.021% | $52.0M | $67.3M | 125x | as long as short |
| GMX SOL/USD [SOL-USDC] | L +0.0235% / S −0.0178% | 1h | 116.78 | +0.025% | $3.6M | — | 200x | as long as short |
| Perpl SOL | +0.0447% | 43m | 116.82 | +0.055% | $139K | $3.7M | 8.3x | as long as short |
| Aftermath Perps SOLUSD | +0.0522% | 1h | 116.86 | +0.087% | $25K | $51K | 20x | as long as short |
| RISEx SOL/USDC | +0.0561% | 1h | 116.84 | +0.074% | $1.9M | $4.8M | 20x | as long as short |
01 Exchange SOLUSD
Orderly PERP_SOL_USDC
Lighter SOL
Lighter RH SOL
Aevo SOL-PERP
Katana Perps SOL-USD
Paradex SOL-USD-PERP
Nado SOL-PERP
Aster SOLUSDT
Pacifica SOL
Binance SOLUSDT
OKX SOL-USDT-SWAP
Ondo Perps SOL-USD.P
Arcus SOL-USD
Bulk SOL-USD
Gate SOL_USDT
MEXC SOL_USDT
KuCoin SOLUSDTM
Bitget SOLUSDT
BingX SOL-USDC
Backpack SOL_USDC_PERP
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
HTX SOL-USDT
Phemex SOLUSDT
Extended SOL-USD
Injective SOL/USDC PERP
Jupiter Perps SOL-PERP
Phoenix SOL
Reya SOLRUSDPERP
Deribit SOL_USDC-PERPETUAL
BloFin SOL-USDT
GMX SOL/USD [SOL-USDC]
Perpl SOL
Aftermath Perps SOLUSD
RISEx SOL/USDC