Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h −0.052%

Price spread now: Binance against Hibachi−0.096%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on Hibachi Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)−0.410%−$41 · spread now −0.096%, 7d avg −0.035%

Together, before fees−0.395%+ Points / potential airdropHibachi: Active · farm board−$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.061% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.096% now, against its 7-day average of −0.035%). If the spread goes back, that is −$6 on $10k: about 21 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.015% in total) that is about 28 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.015% in total (about 0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	116.69	−0.0128	get 0.0016% / 1h	19m 59s	$103K	$701K	20x
Short	Binance SOLUSDT	116.58	0.0100	get 0.0100% / 8h	4h 19m	$969.1M	$3.79B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.096%Rate

Funding earned: $47.88
Price spread: −0.096% → −0.035%: −$6.09
Slippage, 4 orders: −$3.7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: $19.09
Costs to cover: 0.227%
Break-even: 4.2 days

Slippage from Hibachi: live order book, 39 min ago; Binance: live order book, 9 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 Hibachi live order book, 39 min ago	1.03 bp	6.3 bp −$6	30.4 bp −$304	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.43 bp	5.4 bp −$5	5.6 bp −$56	9.9 bp −$989	21.3 bp −$10.7K

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
Hibachi SOL/USDT-Plong	−0.0128%	1h	116.69	long leg	$103K	$701K	20x
Vest SOL-PERP	−0.0097%	1h	116.54	−0.130%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.62	−0.065%	$912	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.61	−0.071%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.62	−0.063%	$1.5M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.63	−0.053%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0031%	1h	116.53	−0.136%	$1.9M	$2.9M	13x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	116.60	−0.079%	$99K	$172K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.61	−0.068%	$7.4M	$404.6M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.59	−0.086%	$31.0M	$100.1M	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	+0.0091%	8h	116.61	−0.069%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.59	−0.084%	$13.0M	$60.1M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.59	−0.089%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.60	−0.083%	$347K	$244K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.59	−0.087%	$51K	$866K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.68	−0.009%	$1.0M	$549K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.60	−0.076%	$5.3M	$39.8M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.68	−0.009%	$704.3M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.57	−0.101%	$174.7M	$182.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.65	−0.034%	$15.7M	$130.0M	20x	as long as short
Binance SOLUSDTshort	+0.0100%	8h	116.58	−0.096%	$969.1M	$3.79B	100x
Bybit SOLUSDT	+0.0100%	8h	116.54	−0.130%	$781.6M	$1.35B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.61	−0.070%	$369.0M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.74	+0.041%	$231K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.64	−0.041%	$926K	$9.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.59	−0.087%	$841.7M	$663.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.60	−0.079%	$386.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.58	−0.097%	$128.2M	$219.7M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.57	−0.106%	$478.9M	$441.1M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.54	−0.129%	—	$10.6M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.57	−0.105%	$23.4M	$38.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.50	−0.162%	$24.4M	$113.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.67	−0.015%	$93.7M	$398.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.70	+0.008%	$47.7M	$30.0M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.81	+0.101%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.77	+0.067%	$1.3M	$12.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.58	−0.096%	$321K	$2.6M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.58	−0.096%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.59	−0.090%	$25K	$30K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.62	−0.059%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.60	−0.079%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.51	−0.155%	$226.1M	$47.1M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.60	−0.079%	$45.7M	$102.1M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.70	+0.007%	$133.2M	$21.0M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.55	−0.122%	$8.2M	$37.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0115%	1h	116.65	−0.037%	$26.3M	$25.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.58	−0.096%	—	$231.0M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.73	+0.033%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.77	+0.067%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.55	−0.125%	$1.1M	$540K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.62	−0.062%	$51.7M	$67.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0171%	1h	116.60	−0.076%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.60	−0.081%	$139K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0529%	1h	116.68	−0.008%	$25K	$50K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.69	−0.005%	$1.9M	$4.9M	20x	as long as short