Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h +0.052%

Price spread now: Hibachi against Katana Perps+0.134%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 Katana Perps Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.032%+$3 on $10k

Price spread, last 4 days (all we have)+0.368%+$37 · spread now +0.134%, 7d avg +0.047%

Together, before fees+0.400%+ Points / potential airdropHibachi: Active · farm board+$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.087% dearer against Katana Perps than usual: you sell high and buy low (spread +0.134% now, against its 7-day average of +0.047%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.40	0.0098	pay 0.0098% / 8h	4h 37m	$51K	$867K	20x
Short	Hibachi SOL/USDT-P	116.56	−0.0080	pay 0.0010% / 1h	37m 12s	$103K	$701K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Katana Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Katana PerpsbpFee HibachibpOrdersPrice spread, now +0.134%Rate

Funding earned: −$37.48
Price spread: +0.134% → +0.047%: $8.71
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$41.57
Costs to cover: 0.128%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Hibachi: live order book, 22 min ago. 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Hibachi live order book, 22 min ago	1.03 bp	5.5 bp −$6	27.6 bp −$276	doesn't fit	doesn't fit

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
Vest SOL-PERP	−0.0095%	1h	116.39	−0.010%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.58	+0.156%	$912	$8K	25x	as long as short
Hibachi SOL/USDT-Pshort	−0.0080%	1h	116.56	+0.134%	$103K	$701K	20x
Derive SOL-PERP	−0.0016%	1h	116.35	−0.040%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.45	+0.043%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.52	+0.101%	$1.4M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.57	+0.144%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.43	+0.026%	$99K	$169K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.45	+0.046%	$7.5M	$404.3M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.46	+0.049%	$31.0M	$100.3M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0090%	8h	116.44	+0.037%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.46	+0.052%	$13.0M	$59.8M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.45	+0.040%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.46	+0.053%	$347K	$244K	20x	as long as short
Katana Perps SOL-USDlong	+0.0098%	8h	116.40	long leg	$51K	$867K	20x
Paradex SOL-USD-PERP	+0.0100%	8h	116.62	+0.191%	$988K	$534K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.44	+0.030%	$5.4M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.45	+0.041%	$704.4M	$394.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.45	+0.041%	$175.0M	$182.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.59	+0.162%	$15.7M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.44	+0.033%	$963.7M	$3.78B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.39	−0.009%	$783.9M	$1.34B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.44	+0.034%	$367.7M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.36	−0.034%	$230K	$846K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.64	+0.206%	$920K	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.65	+0.215%	$133.5M	$20.6M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.40	0.000%	$842.7M	$657.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.44	+0.034%	$416.7M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.43	+0.025%	$126.4M	$217.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.41	+0.011%	$478.4M	$441.8M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.43	+0.029%	—	$364.8M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.52	+0.103%	$23.5M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.43	+0.029%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.52	+0.099%	$93.5M	$397.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.62	+0.186%	$47.7M	$29.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.55	+0.131%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.57	+0.146%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.40	0.000%	$320K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.44	+0.037%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.43	+0.025%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.46	+0.049%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.45	+0.043%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.42	+0.017%	$225.9M	$46.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.43	+0.026%	$45.6M	$101.7M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.39	−0.005%	$7.9M	$36.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.47	+0.057%	—	$228.5M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0131%	1h	116.50	+0.088%	$26.3M	$25.3M	50x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	+0.137%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.63	+0.198%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.40	+0.001%	$1.1M	$539K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.44	+0.034%	$51.6M	$72.1M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.44	+0.037%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.46	+0.048%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0528%	1h	116.57	+0.145%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.53	+0.115%	$1.9M	$4.9M	20x	as long as short