Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h +0.057%

Price spread now: Hibachi against edgeX+0.013%54s7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as 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−$250.246% of the position

Long on edgeX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 4 days (all we have)+0.879%+$88 · spread now +0.013%, 7d avg +0.051%

Together, before fees+0.803%+ Points / potential airdropedgeX: Active · Hibachi: Active · farm board+$80 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Hibachi is 0.038% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.051%). Swap the legs. The two prices were read 54 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	edgeX SOLUSDC	117.77	0.0100	pay 0.0050% / 4h	2h 19m	$94.6M	$404.8M	75x
Short	Hibachi SOL/USDT-P	117.78	−0.0008	pay 0.0001% / 1h	19m 41s	$100K	$691K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against edgeX. 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 edgeXbpFee HibachibpOrdersPrice spread, now +0.013%Rate

Funding earned: −$22.68
Price spread: +0.013% → +0.051%: −$3.76
Slippage, 4 orders: −$6.56
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$51
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from edgeX: live order book, 4 min ago; Hibachi: live order book, 49 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 edgeX live order book, 4 min ago	2.12 bp	6.6 bp −$7	6.6 bp −$66	6.7 bp −$670	10.6 bp −$5,276
Sell Hibachi live order book, 49 min ago	0.67 bp	5.2 bp −$5	20.1 bp −$201	doesn't fit	doesn't fit

SOL on 54 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	117.72	−0.044%	$921	$8K	25x	as long as short
Vest SOL-PERP	−0.0066%	1h	117.57	−0.171%	—	$607K	20x	as long as short
Derive SOL-PERP	−0.0027%	1h	117.51	−0.220%	$2.0M	$2.8M	13x	as long as short
Hibachi SOL/USDT-Pshort	−0.0008%	1h	117.78	+0.013%	$100K	$691K	20x
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.58	−0.160%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.67	−0.083%	$4.5M	$24.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.59	−0.154%	$1.4M	$20.8M	3.1x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.71	−0.052%	$2.0M	$4.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0030%	1h	117.91	+0.122%	$1.5M	$6.0M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0039%	1h	117.60	−0.141%	$26.4M	$25.5M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.55	−0.185%	$31.5M	$98.8M	100x	as long as short
HTX SOL-USDT	+0.0051%	8h	117.54	−0.196%	$228.4M	$45.5M	75x	as long as short
Gate SOL_USDT	+0.0058%	8h	117.66	−0.092%	$851.8M	$663.5M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.58	−0.160%	$8.0M	$408.7M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.64	−0.104%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	117.59	−0.148%	$1.1M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.69	−0.070%	$13.1M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.68	−0.076%	$2.1M	$16.8M	25x	as long as short
01 Exchange SOLUSD	+0.0096%	1h	117.70	−0.058%	$103K	$158K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.56	−0.179%	$344K	$258K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.69	−0.067%	$1.0M	$519K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.66	−0.092%	$64K	$855K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.62	−0.126%	$5.7M	$41.5M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.67	−0.083%	$176.6M	$179.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.69	−0.062%	$14.4M	$128.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.68	−0.077%	$969.9M	$3.80B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.70	−0.058%	$820.6M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.68	−0.075%	$365.7M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	−0.134%	$239K	$891K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.69	−0.069%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.00	+0.197%	$135.1M	$14.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.66	−0.092%	$425.7M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.69	−0.068%	$131.3M	$210.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.67	−0.084%	$487.3M	$441.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.66	−0.092%	$23.8M	$37.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.74	−0.021%	$24.4M	$122.5M	—	as long as short
edgeX SOLUSDClong	+0.0100%	4h	117.77	long leg	$94.6M	$404.8M	75x
GRVT SOL_USDT_Perp	+0.0100%	8h	117.96	+0.165%	$48.3M	$28.8M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.96	+0.163%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.58	−0.159%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.57	−0.168%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.58	−0.155%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.60	−0.145%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.56	−0.176%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.56	−0.176%	$45.8M	$101.4M	50x	as long as short
Phoenix SOL	+0.0101%	1h	118.11	+0.291%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.64	−0.105%	$8.1M	$36.2M	50x	as long as short
Hyperliquid SOL	+0.0106%	1h	117.79	+0.019%	$720.2M	$400.2M	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.59	−0.153%	—	$226.2M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.56	−0.175%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	117.87	+0.087%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.57	−0.165%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0338%	1h	117.86	+0.077%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.63	−0.117%	$129K	$3.9M	8.3x	as long as short