Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.057%

Price spread now: Bybit against Hibachi+0.051%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on Hibachi Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−1.551%−$155 · spread now +0.051%, 7d avg −0.037%

Together, before fees−1.563%+ Points / potential airdropHibachi: Active · farm board−$156 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 Bybit is 0.088% dearer against Hibachi than usual: you sell high and buy low: +$9 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	117.44	0.0072	pay 0.0009% / 1h	56m 05s	$100K	$690K	20x
Short	Bybit SOLUSDT	117.50	0.0100	get 0.0100% / 8h	5h 56m	$820.9M	$1.24B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.051%Rate

Funding earned: $5.88
Price spread: +0.051% → −0.037%: $8.84
Slippage, 4 orders: −$2.72
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8
Costs to cover: 0.227%
Break-even: 16.5 days

Slippage from Hibachi: live order book, 8 min ago; Bybit: live order book, 3 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, 8 min ago	0.04 bp	4.5 bp −$5	16.8 bp −$168	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.43 bp	5.9 bp −$6	6.9 bp −$69	11.3 bp −$1,131	22.6 bp −$11.3K

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	117.67	+0.192%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0057%	1h	117.50	+0.046%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.54	+0.086%	$31.5M	$98.1M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.58	+0.120%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.56	+0.100%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.64	+0.171%	$1.4M	$19.6M	3.1x	as long as short
Derive SOL-PERP	+0.0009%	1h	117.52	+0.064%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0036%	8h	117.55	+0.090%	$228.4M	$45.5M	75x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.63	+0.159%	$100K	$162K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.56	+0.098%	$8.0M	$402.9M	50x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-Plong	+0.0072%	1h	117.44	long leg	$100K	$690K	20x
Deribit SOL_USDC-PERPETUAL	+0.0078%	1h	117.61	+0.144%	$26.4M	$25.2M	50x	as long as short
BingX SOL-USDT	+0.0080%	8h	117.50	+0.044%	—	$363.4M	—	as long as short
Gate SOL_USDT	+0.0086%	8h	117.55	+0.091%	$850.0M	$641.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.60	+0.137%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.54	+0.081%	$13.1M	$58.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.53	+0.071%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.60	+0.134%	$345K	$225K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.61	+0.142%	$67K	$840K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.65	+0.177%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.60	+0.134%	$5.8M	$39.9M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.61	+0.140%	$176.5M	$177.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.63	+0.159%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.52	+0.069%	$968.9M	$3.73B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	117.50	+0.051%	$820.9M	$1.24B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	117.47	+0.023%	$366.4M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	+0.142%	$237K	$851K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.66	+0.186%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.51	+0.057%	$424.1M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.51	+0.058%	$130.5M	$211.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.50	+0.048%	$487.1M	$433.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.53	+0.074%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.64	+0.164%	$24.3M	$119.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.44	−0.006%	$94.3M	$405.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.55	+0.087%	$48.2M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.56	+0.100%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.49	+0.040%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.62	+0.151%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.60	+0.136%	$200K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.58	+0.117%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.62	+0.150%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.56	+0.100%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.54	+0.083%	$45.8M	$100.3M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.46	+0.011%	$134.5M	$14.2M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.53	+0.074%	$6.5M	$13.2M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.53	+0.071%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.29	−0.127%	—	$221.4M	500x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.70	+0.215%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0170%	1h	117.62	+0.151%	$717.8M	$395.5M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.61	+0.140%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	+0.006%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.62	+0.151%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0364%	1h	117.53	+0.075%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.70	+0.219%	$128K	$3.8M	8.3x	as long as short