Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h +0.067%

Price spread now: Hibachi against BingX−0.054%49s7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as 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−$230.233% of the position

Long on BingX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Hibachi is 0.054% cheaper against BingX than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	BingX SOL-USDC	117.48	0.0080	pay 0.0080% / 8h	5h 58m	—	$10.5M	—
Short	Hibachi SOL/USDT-P	117.41	0.0064	get 0.0008% / 1h	58m 35s	$100K	$690K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against BingX. 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 BingXbpFee HibachibpOrdersPrice spread, now −0.054%Rate

Funding earned: −$3.36
Price spread: −0.054% → 0.000%: −$5.38
Slippage, 4 orders: −$4.27
Fee BingX: 5 bp × 2 orders: −$10
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$32.01
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Hibachi: live order book, 5 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 BingX live order book, 9 min ago	0.85 bp	6.4 bp −$6	8.2 bp −$82	13.9 bp −$1,389	28.3 bp −$14.1K
Sell Hibachi live order book, 5 min ago	0.04 bp	6.3 bp −$6	22.7 bp −$227	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	117.59	+0.100%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.47	−0.006%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.55	+0.059%	$31.5M	$98.3M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.54	+0.056%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.51	+0.028%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.61	+0.111%	$1.4M	$20.1M	3.1x	as long as short
Derive SOL-PERP	+0.0017%	1h	117.48	+0.003%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0037%	8h	117.44	−0.031%	$228.2M	$45.4M	75x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	117.52	+0.037%	$100K	$162K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0052%	1h	117.59	+0.096%	$26.4M	$25.4M	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-Pshort	+0.0064%	1h	117.41	−0.054%	$100K	$690K	20x
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.58	+0.092%	$8.0M	$403.9M	50x	as long as short
Gate SOL_USDT	+0.0080%	8h	117.52	+0.037%	$849.0M	$640.9M	100x	as long as short
BingX SOL-USDClong	+0.0080%	8h	117.48	long leg	—	$10.5M	—
Orderly PERP_SOL_USDC	+0.0088%	8h	117.56	+0.068%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.52	+0.036%	$13.1M	$58.9M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.50	+0.020%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.56	+0.067%	$344K	$225K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.55	+0.064%	$1.0M	$518K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.49	+0.011%	$67K	$840K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.48	+0.007%	$5.8M	$40.2M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.54	+0.057%	$176.4M	$177.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.55	+0.058%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.52	+0.037%	$968.9M	$3.74B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.54	+0.054%	$820.5M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.43	−0.040%	$366.4M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.37	−0.091%	$238K	$849K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.51	+0.031%	$2.0M	$9.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.51	+0.028%	$423.0M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.52	+0.038%	$130.5M	$211.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.48	+0.005%	$486.9M	$434.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.55	+0.062%	$23.7M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.45	−0.019%	$24.3M	$120.0M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.44	−0.035%	$94.3M	$405.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.43	−0.044%	$48.1M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.44	−0.031%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.41	−0.057%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.53	+0.045%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.53	+0.044%	$201K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.53	+0.045%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.54	+0.053%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.55	+0.062%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.57	+0.079%	$45.8M	$100.4M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.46	−0.018%	$134.5M	$14.2M	20x	as long as short
Phoenix SOL	+0.0101%	1h	117.53	+0.045%	$6.5M	$13.2M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.47	−0.009%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.39	−0.072%	—	$221.7M	500x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.55	+0.065%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0172%	1h	117.65	+0.147%	$717.9M	$395.3M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.52	+0.038%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	−0.023%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0174%	1h	117.54	+0.057%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0360%	1h	117.55	+0.062%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.57	+0.081%	$128K	$3.8M	8.3x	as long as short