Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.057%

Price spread now: Paradex against Hibachi+0.034%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$190.186% of the position

Long on Hibachi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.038%−$4 on $10k

Price spread, last 4 days (all we have)−0.751%−$75 · spread now +0.034%, 7d avg −0.035%

Together, before fees−0.789%+ Points / potential airdropHibachi: Active · Paradex: Active · farm board−$79 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.070% dearer against Hibachi than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	117.62	0.0064	pay 0.0008% / 1h	32m 06s	$104K	$695K	20x
Short	Paradex SOL-USD-PERP	117.66	0.0100	get 0.0100% / 8h	5h 32m	$1.0M	$516K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.034%Rate

Funding earned: $7.54
Price spread: +0.034% → −0.035%: $6.96
Slippage, 4 orders: −$5.61
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$4.12
Costs to cover: 0.186%
Break-even: 10.8 days

Slippage from Hibachi: live order book, 32 min ago; Paradex: 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, 32 min ago	0.04 bp	4.5 bp −$5	16.8 bp −$168	doesn't fit	doesn't fit
Sell Paradex live order book, 2 min ago	1.87 bp	3.9 bp −$4	9.2 bp −$92	doesn't fit	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	117.60	−0.013%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0062%	1h	117.57	−0.038%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.62	0.000%	$31.7M	$98.4M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.55	−0.060%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.65	+0.024%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.64	+0.015%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.67	+0.041%	$1.4M	$19.3M	3.1x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0048%	1h	117.66	+0.037%	$26.4M	$24.9M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.68	+0.052%	$100K	$163K	20x	as long as short
Hibachi SOL/USDT-Plong	+0.0064%	1h	117.62	long leg	$104K	$695K	20x

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.65	+0.027%	$8.0M	$404.3M	50x	as long as short
BingX SOL-USDT	+0.0070%	8h	117.64	+0.016%	—	$363.0M	—	as long as short
HTX SOL-USDT	+0.0084%	8h	117.39	−0.193%	$228.0M	$45.5M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.63	+0.011%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.63	+0.006%	$13.1M	$59.4M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.61	−0.007%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.61	−0.004%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.61	−0.007%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0100%	8h	117.66	+0.034%	$1.0M	$516K	50x
Nado SOL-PERP	+0.0100%	1h	117.63	+0.010%	$5.8M	$39.0M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.66	+0.035%	$176.5M	$178.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.66	+0.038%	$14.5M	$128.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.70	+0.069%	$968.2M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.72	+0.086%	$825.9M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.64	+0.018%	$366.8M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.51	−0.093%	$237K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.64	+0.021%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.44	−0.150%	$135.1M	$16.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.63	+0.010%	$859.3M	$649.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.63	+0.010%	$426.9M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.65	+0.023%	$130.0M	$212.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.65	+0.024%	$487.5M	$432.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.63	+0.010%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.44	−0.150%	$24.3M	$116.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.39	−0.196%	$94.3M	$399.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.46	−0.132%	$48.1M	$28.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.45	−0.141%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.56	−0.050%	$1.3M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.66	+0.035%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.64	+0.021%	$199K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.62	−0.002%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.65	+0.026%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.62	+0.001%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.64	+0.018%	$45.8M	$100.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.58	−0.031%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.61	−0.010%	—	$218.9M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.65	+0.027%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.72	+0.088%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0174%	1h	117.77	+0.129%	$720.1M	$392.8M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.63	+0.014%	$1.1M	$526K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	−0.203%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.60	−0.016%	$51.8M	$71.4M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.66	+0.033%	$127K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.64	+0.019%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0388%	1h	117.49	−0.110%	$25K	$51K	20x	as long as short