Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h −0.057%

Price spread now: Katana Perps against Hibachi+0.151%7-day average −0.047% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.031%−$3 on $10k

Price spread, last 4 days (all we have)−1.714%−$171 · spread now +0.151%, 7d avg −0.047%

Together, before fees−1.746%+ Points / potential airdropHibachi: Active · farm board−$175 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Katana Perps is 0.198% dearer against Hibachi than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	117.12	−0.0080	get 0.0010% / 1h	39m 11s	$91K	$707K	20x
Short	Katana Perps SOL-USD	117.30	0.0100	get 0.0100% / 8h	6h 39m	$65K	$855K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.151%Rate

Funding earned: $37.76
Price spread: +0.151% → −0.047%: $19.77
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $44.72
Costs to cover: 0.128%
Break-even: from the start

Slippage unknown: Hibachi: live order book, 30 min ago; Katana Perps: no order-book sample. Net counts fees only.

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, 30 min ago	0.67 bp	6.2 bp −$6	22.3 bp −$223	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	117.27	+0.123%	$917	$8K	25x	as long as short
Hibachi SOL/USDT-Plong	−0.0080%	1h	117.12	long leg	$91K	$707K	20x
Vest SOL-PERP	−0.0076%	1h	117.39	+0.230%	—	$610K	20x	as long as short
ApeX Omni SOLUSDT	−0.0054%	1h	117.98	+0.731%	$1.5M	$6.1M	50x	as long as short
Gate SOL_USDT	−0.0028%	8h	117.50	+0.322%	$852.0M	$657.6M	100x	as long as short
HTX SOL-USDT	−0.0027%	8h	117.46	+0.287%	$228.4M	$45.6M	75x	as long as short
Derive SOL-PERP	−0.0022%	1h	117.43	+0.258%	$2.0M	$2.7M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	117.51	+0.334%	$53K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.37	+0.211%	$4.5M	$25.9M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.44	+0.272%	$1.5M	$21.4M	3.1x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl SOL	0.0000%	43m	117.56	+0.373%	$129K	$3.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.55	+0.362%	$26.4M	$25.5M	50x	as long as short
RISEx SOL/USDC	+0.0018%	1h	117.35	+0.191%	$2.0M	$4.7M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0049%	1h	117.52	+0.338%	$31.3M	$98.8M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0072%	1h	117.51	+0.330%	$8.0M	$411.8M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.48	+0.309%	—	$10.6M	—	as long as short
Orderly PERP_SOL_USDC	+0.0085%	8h	117.51	+0.333%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0088%	1h	117.37	+0.211%	$103K	$164K	20x	as long as short
Lighter SOL	+0.0096%	1h	117.51	+0.329%	$13.0M	$59.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.50	+0.321%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.52	+0.337%	$344K	$260K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.37	+0.208%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	117.30	+0.151%	$65K	$855K	20x
Nado SOL-PERP	+0.0100%	1h	117.50	+0.317%	$5.7M	$41.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.61	+0.416%	$716.2M	$399.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.48	+0.305%	$176.4M	$181.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.43	+0.258%	$14.4M	$131.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.52	+0.340%	$970.0M	$3.85B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.54	+0.352%	$819.7M	$1.29B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.52	+0.339%	$365.7M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.31	+0.159%	$238K	$891K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.39	+0.223%	$2.0M	$9.1M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.52	+0.339%	$421.9M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.52	+0.340%	$131.1M	$208.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.52	+0.335%	$487.5M	$446.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.52	+0.339%	$23.7M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.53	+0.345%	$24.3M	$129.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.97	+0.725%	$94.8M	$402.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.47	+0.296%	$48.1M	$29.5M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.18	+0.048%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.50	+0.322%	$357K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.51	+0.327%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.50	+0.321%	$37K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.51	+0.328%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.51	+0.330%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.51	+0.330%	$45.8M	$102.0M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.07	+0.808%	$135.9M	$13.3M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.59	+0.399%	$6.5M	$13.5M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.47	+0.298%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.34	+0.184%	—	$228.8M	500x	as long as short
Reya SOLRUSDPERP	+0.0188%	1h	117.49	+0.316%	$1.1M	$523K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.04	+0.783%	$52.1M	$74.3M	125x	as long as short
Injective SOL/USDC PERP	+0.0222%	1h	118.20	+0.919%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0168%	1h	117.50	+0.320%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0314%	1h	117.71	+0.501%	$25K	$51K	20x	as long as short