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: Hibachi against Paradex−0.260%46s7-day average +0.035% · you buy dearer than you sell

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

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

costs, in and out, $10k−$650.649% of the position

Long on Paradex Short on Hibachi

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)+0.977%+$98 · spread now −0.260%, 7d avg +0.035%

Together, before fees+1.015%+ Points / potential airdropParadex: Active · Hibachi: Active · farm board+$102 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 Hibachi is 0.295% cheaper against Paradex than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of +0.035%). Swap the legs. The two prices were read 46 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	Paradex SOL-USD-PERP	117.47	0.0100	pay 0.0100% / 8h	5h 36m	$1.0M	$516K	50x
Short	Hibachi SOL/USDT-P	117.16	0.0064	get 0.0008% / 1h	36m 35s	$102K	$692K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Paradex. 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 ParadexbpFee HibachibpOrdersPrice spread, now −0.260%Rate

Funding earned: −$7.53
Price spread: −0.260% → +0.035%: −$29.55
Slippage, 4 orders: −$51.86
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$101.94
Costs to cover: 0.649%
Break-even: never at this rate

Slippage from Paradex: live order book, 3 min ago; Hibachi: live order book, 27 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 Paradex live order book, 3 min ago	24.99 bp	27.0 bp −$27	81.8 bp −$818	doesn't fit	doesn't fit
Sell Hibachi live order book, 27 min ago	0.04 bp	6.3 bp −$6	22.7 bp −$227	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	117.26	−0.173%	$917	$8K	25x	as long as short
Vest SOL-PERP	−0.0060%	1h	117.19	−0.239%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.36	−0.088%	$31.6M	$98.4M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.25	−0.189%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.32	−0.125%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.44	−0.025%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.32	−0.127%	$1.4M	$19.4M	3.1x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.42	−0.040%	$100K	$163K	20x	as long as short
Hibachi SOL/USDT-Pshort	+0.0064%	1h	117.16	−0.260%	$102K	$692K	20x
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.38	−0.075%	$8.0M	$403.0M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0069%	8h	117.30	−0.139%	$227.7M	$45.5M	75x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0078%	1h	117.37	−0.082%	$26.4M	$25.1M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.38	−0.071%	—	$10.6M	—	as long as short
Bluefin SOL-PERP	+0.0084%	1h	117.31	−0.135%	$25K	$28K	25x	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.33	−0.113%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.46	−0.008%	$13.1M	$59.3M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.41	−0.048%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.33	−0.118%	$344K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.36	−0.091%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERPlong	+0.0100%	8h	117.47	long leg	$1.0M	$516K	50x
Nado SOL-PERP	+0.0100%	1h	117.28	−0.163%	$5.8M	$39.3M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.40	−0.060%	$176.8M	$178.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.48	+0.012%	$14.5M	$128.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.42	−0.041%	$965.8M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.40	−0.054%	$823.0M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.37	−0.082%	$365.9M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.41	−0.048%	$237K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.45	−0.010%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	−0.014%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.45	−0.014%	$858.2M	$648.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.45	−0.014%	$425.1M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.43	−0.031%	$129.8M	$212.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.43	−0.028%	$486.7M	$432.9M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.38	−0.074%	$23.6M	$36.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.24	−0.191%	$24.3M	$117.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.31	−0.129%	$94.2M	$398.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.16	−0.257%	$48.0M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.23	−0.202%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.17	−0.253%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.27	−0.168%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.33	−0.117%	$199K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.18	−0.244%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.34	−0.108%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.39	−0.065%	$45.7M	$100.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.41	−0.050%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.10	−0.309%	—	$218.9M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.38	−0.074%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.48	+0.015%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0166%	1h	117.47	+0.003%	$717.6M	$392.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.24	−0.191%	$1.1M	$526K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	−0.074%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.36	−0.091%	$51.7M	$71.0M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.23	−0.199%	$127K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.31	−0.131%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0387%	1h	117.36	−0.094%	$25K	$51K	20x	as long as short