Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:07 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.055%

Price spread now: Hibachi against Perpl+0.031%7-day average +0.052% · you sell dearer than you buy

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

Long on Perpl Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 4 days (all we have)+0.211%+$21 · spread now +0.031%, 7d avg +0.052%

Together, before fees+0.437%+ Points / potential airdropPerpl: Active · Hibachi: Active · farm board+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hibachi is 0.021% cheaper against Perpl than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.052%). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	116.44	0	get 0.0000% / 43m	14m 35s	$99K	$3.4M	8.3x
Short	Hibachi SOL/USDT-P	116.48	0.0088	get 0.0011% / 1h	42m 35s	$102K	$681K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Perpl. 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 PerplbpFee HibachibpOrdersPrice spread, now +0.031%Rate

Funding earned: $18.48
Price spread: +0.031% → +0.052%: −$2.08
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$6.4
Costs to cover: 0.228%
Break-even: 9.4 days

Slippage unknown: Perpl: no order-book sample; Hibachi: live order book, 56 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 Perpl no order-book sample	—	—	—	—	—
Sell Hibachi live order book, 56 min ago	1.07 bp	5.6 bp −$6	18.4 bp −$184	doesn't fit	doesn't fit

Perpl: 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	116.51	+0.058%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.42	−0.019%	$32.3M	$106.1M	100x	as long as short
Phemex SOLUSDT	−0.0048%	8h	116.39	−0.042%	$45.3M	$103.4M	50x	as long as short
Vest SOL-PERP	−0.0006%	1h	116.39	−0.046%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.41	−0.022%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.42	−0.015%	$4.3M	$23.3M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.43	−0.009%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOLlong	0.0000%	43m	116.44	long leg	$99K	$3.4M	8.3x
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	116.44	+0.004%	$26.2M	$21.7M	50x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.36	−0.068%	$1.8M	$2.9M	13x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0025%	8h	116.34	−0.082%	$480.0M	$452.8M	100x	as long as short
Bybit SOLUSDT	+0.0037%	8h	116.40	−0.033%	$731.8M	$1.40B	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.41	−0.023%	$7.8M	$394.4M	50x	as long as short
Aster SOLUSDT	+0.0053%	8h	116.34	−0.081%	$177.0M	$169.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0069%	8h	116.39	−0.040%	$1.0M	$5.9M	100x	as long as short
Hibachi SOL/USDT-Pshort	+0.0088%	1h	116.48	+0.031%	$102K	$681K	20x
Lighter SOL	+0.0096%	1h	116.34	−0.088%	$13.1M	$55.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.32	−0.099%	$2.2M	$14.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.39	−0.046%	$351K	$255K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.32	−0.099%	$1.0M	$554K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.32	−0.102%	$64K	$901K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.32	−0.099%	$5.4M	$41.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.45	+0.009%	$695.8M	$407.3M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.38	−0.053%	$15.7M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.39	−0.042%	$962.2M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.40	−0.033%	$366.1M	$1.74B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.38	−0.051%	$219K	$844K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.37	−0.061%	$918K	$8.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.34	−0.085%	$847.8M	$608.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.32	−0.102%	$374.2M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.33	−0.096%	$129.6M	$237.2M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.30	−0.120%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.41	−0.025%	$22.9M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.47	+0.023%	$24.9M	$105.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.47	+0.025%	$93.5M	$405.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.48	+0.035%	$47.7M	$28.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.50	+0.057%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.40	−0.033%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.41	−0.025%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.40	−0.032%	$282K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.40	−0.033%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.38	−0.051%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.44	+0.003%	$225.4M	$50.5M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	+0.009%	$126.0M	$25.6M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.32	−0.106%	$8.3M	$36.5M	50x	as long as short
01 Exchange SOLUSD	+0.0112%	1h	116.41	−0.025%	$102K	$182K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.44	−0.003%	—	$231.0M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.60	+0.138%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.085%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.35	−0.073%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.41	−0.025%	$52.0M	$64.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.41	−0.029%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0414%	1h	116.45	+0.007%	$25K	$57K	20x	as long as short
Bluefin SOL-PERP	+0.0422%	1h	117.34	+0.775%	$27K	$37K	25x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.42	−0.017%	$2.1M	$4.8M	20x	as long as short