Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0034%/8h= +3.8% APRpaid last 24h +0.029%

Price spread now: Hibachi against Bybit+0.074%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Bybit Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+1.426%+$143 · spread now +0.074%, 7d avg +0.037%

Together, before fees+1.436%+ Points / potential airdropHibachi: Active · farm board+$144 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 Hibachi is 0.037% dearer against Bybit than usual: you sell high and buy low: +$4 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	Bybit SOLUSDT	116.09	−0.0098	get 0.0098% / 8h	15m 11s	$732.7M	$1.43B	100x
Short	Hibachi SOL/USDT-P	116.18	−0.0064	pay 0.0008% / 1h	15m 11s	$101K	$676K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Bybit. 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 BybitbpFee HibachibpOrdersPrice spread, now +0.074%Rate

Funding earned: $7.2
Price spread: +0.074% → +0.037%: $3.72
Slippage, 4 orders: −$3.64
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$12.72
Costs to cover: 0.236%
Break-even: 19.4 days

Slippage from Bybit: live order book, 4 min ago; Hibachi: live order book, 24 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 Bybit live order book, 4 min ago	0.43 bp	5.9 bp −$6	6.3 bp −$63	9.1 bp −$913	21.5 bp −$10.7K
Sell Hibachi live order book, 24 min ago	1.07 bp	5.6 bp −$6	18.4 bp −$184	doesn't fit	doesn't fit

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
Kraken Futures PF_SOLUSD	−0.0153%	1h	116.13	+0.037%	$32.2M	$106.9M	100x	as long as short
Bybit SOLUSDTlong	−0.0098%	8h	116.09	long leg	$732.7M	$1.43B	100x
Hotstuff SOL-PERP	−0.0080%	1h	116.27	+0.158%	$1K	$8K	25x	as long as short
Hibachi SOL/USDT-Pshort	−0.0064%	1h	116.18	+0.074%	$101K	$676K	20x
Injective SOL/USDC PERP	−0.0055%	1h	116.36	+0.233%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0038%	1h	116.10	+0.010%	—	$649K	20x	as long as short
Derive SOL-PERP	−0.0026%	1h	116.08	−0.013%	$1.8M	$3.0M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.14	+0.043%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.16	+0.065%	$1.4M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.12	+0.022%	$99K	$3.5M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0005%	1h	116.17	+0.066%	$4.3M	$23.5M	20x	as long as short
Bitget SOLUSDT	+0.0023%	8h	116.10	+0.008%	$479.0M	$456.2M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.14	+0.043%	$7.8M	$398.2M	50x	as long as short
Aster SOLUSDT	+0.0051%	8h	116.10	+0.009%	$176.9M	$168.9M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	116.13	+0.034%	$1.0M	$6.1M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	116.18	+0.078%	$100K	$182K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0081%	1h	116.18	+0.073%	$26.3M	$21.7M	50x	as long as short
Lighter RH SOL	+0.0088%	1h	116.08	−0.007%	$2.2M	$16.8M	25x	as long as short
SoDEX SOL-USD	+0.0090%	1h	116.11	+0.017%	$6.1M	$11.0M	20x	as long as short
Paradex SOL-USD-PERP	+0.0095%	8h	116.14	+0.044%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.11	+0.015%	$13.1M	$60.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.11	+0.020%	$350K	$256K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.11	+0.017%	$64K	$912K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.13	+0.034%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.19	+0.086%	$695.4M	$408.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.16	+0.064%	$15.6M	$130.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.11	+0.018%	$960.1M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.11	+0.017%	$365.7M	$1.76B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.15	+0.052%	$223K	$845K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.15	+0.055%	$923K	$8.5M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.21	+0.102%	$125.5M	$25.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.10	+0.009%	$843.4M	$669.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.11	+0.017%	$371.9M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.10	+0.010%	$129.1M	$236.2M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.08	−0.007%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.12	+0.026%	$22.8M	$35.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.09	−0.003%	$24.8M	$107.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.13	+0.032%	$93.3M	$406.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.23	+0.118%	$47.6M	$29.1M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.24	+0.133%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.12	+0.026%	$1.3M	$11.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.10	+0.009%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.13	+0.033%	$281K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.12	+0.026%	$26K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.11	+0.020%	$189K	$1.7M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.10	+0.013%	$224.8M	$50.8M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.12	+0.026%	$45.1M	$104.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.08	−0.006%	$8.2M	$36.9M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.13	+0.031%	—	$236.1M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.21	+0.103%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.08	−0.013%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.11	+0.017%	$51.9M	$65.4M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.12	+0.029%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0452%	1h	116.17	+0.066%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.21	+0.100%	$2.1M	$4.8M	20x	as long as short