Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h −0.052%

Price spread now: SunX against Hibachi+0.075%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on Hibachi Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 4 days (all we have)−0.263%−$26 · spread now +0.075%, 7d avg −0.037%

Together, before fees−0.171%+ Points / potential airdropHibachi: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and SunX is 0.112% dearer against Hibachi than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	116.49	−0.0040	get 0.0005% / 1h	45m 59s	$103K	$700K	20x
Short	SunX SOL-USDT	116.58	0.0100	get 0.0100% / 8h	4h 45m	$189K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.075%Rate

Funding earned: $29.4
Price spread: +0.075% → −0.037%: $11.24
Slippage, 4 orders: −$36.79
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$13.15
Costs to cover: 0.538%
Break-even: 10.1 days

Slippage from Hibachi: live order book, 13 min ago; SunX: live order book, 10 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, 13 min ago	1.03 bp	6.3 bp −$6	30.4 bp −$304	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	3.40 bp	20.0 bp −$20	32.1 bp −$321	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
Vest SOL-PERP	−0.0086%	1h	116.48	−0.010%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.51	+0.018%	$911	$8K	25x	as long as short
Hibachi SOL/USDT-Plong	−0.0040%	1h	116.49	long leg	$103K	$700K	20x
Derive SOL-PERP	−0.0016%	1h	116.49	−0.005%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.55	+0.049%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.57	+0.063%	$1.4M	$18.7M	3.1x	as long as short
dYdX SOL-USD	0.0000%	1h	116.55	+0.048%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.56	+0.058%	$99K	$169K	20x	as long as short
ApeX Omni SOLUSDT	+0.0037%	1h	116.55	+0.049%	$1.3M	$6.3M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.59	+0.087%	$7.6M	$404.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.59	+0.080%	$31.0M	$100.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.57	+0.066%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.58	+0.073%	$13.0M	$59.7M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.57	+0.064%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.56	+0.058%	$342K	$236K	20x	as long as short
Katana Perps SOL-USD	+0.0098%	8h	116.50	+0.006%	$50K	$866K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.62	+0.111%	$988K	$534K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.52	+0.023%	$5.5M	$39.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.66	+0.143%	$706.5M	$395.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.53	+0.034%	$175.1M	$182.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.58	+0.073%	$15.7M	$129.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.59	+0.088%	$965.1M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.54	+0.040%	$791.8M	$1.33B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.61	+0.100%	$365.8M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.37	−0.106%	$232K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.53	+0.034%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	+0.141%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.55	+0.049%	$845.4M	$654.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.59	+0.083%	$416.8M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.57	+0.068%	$126.3M	$216.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.56	+0.056%	$478.8M	$441.0M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.54	+0.042%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.57	+0.066%	$23.2M	$37.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.49	0.000%	$24.4M	$114.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.52	+0.027%	$93.5M	$397.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.48	−0.010%	$47.6M	$29.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.52	+0.023%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.53	+0.032%	$322K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.54	+0.037%	$149K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.52	+0.027%	$25K	$29K	25x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	116.58	+0.075%	$189K	$1.8M	30x
SoDEX SOL-USD	+0.0100%	1h	116.58	+0.075%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.52	+0.024%	$226.1M	$46.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.54	+0.040%	$45.5M	$101.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.54	+0.042%	$7.9M	$36.6M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0104%	1h	116.63	+0.115%	$26.3M	$25.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.57	+0.062%	—	$228.3M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	+0.058%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.57	+0.066%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.49	−0.004%	$1.1M	$539K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.46	−0.028%	$51.6M	$71.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.54	+0.038%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.54	+0.038%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0495%	1h	116.63	+0.120%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.61	+0.103%	$1.9M	$4.9M	20x	as long as short