Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0268%/8h= +29.3% APRpaid last 24h −0.045%

Price spread now: OKX against Hibachi−0.064%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Hibachi Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.184%−$18 · spread now −0.064%, 7d avg −0.054%

Together, before fees−0.179%+ Points / potential airdropHibachi: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.054%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.005% in total (about 0.2% 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	116.81	−0.0168	get 0.0021% / 1h	22m 48s	$99K	$689K	20x
Short	OKX SOL-USDT-SWAP	116.73	0.0100	get 0.0100% / 8h	1h 22m	$368.7M	$1.78B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $56.28
Price spread: −0.064% → −0.054%: −$1.08
Slippage, 4 orders: −$3.13
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: $33.07
Costs to cover: 0.221%
Break-even: 2.9 days

Slippage from Hibachi: live order book, 21 min ago; OKX: live order book, 1 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, 21 min ago	0.56 bp	6.0 bp −$6	15.4 bp −$154	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.43 bp	5.4 bp −$5	5.6 bp −$56	8.3 bp −$832	19.9 bp −$9,962

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	−0.0168%	1h	116.81	long leg	$99K	$689K	20x
Bybit SOLUSDT	−0.0115%	8h	116.73	−0.064%	$741.5M	$1.44B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.80	−0.007%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.75	−0.046%	$32.3M	$106.3M	100x	as long as short
Derive SOL-PERP	−0.0053%	1h	116.33	−0.409%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0033%	1h	116.70	−0.088%	—	$628K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.73	−0.062%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.79	−0.013%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.72	−0.069%	$110K	$3.6M	8.3x	as long as short
dYdX SOL-USD	+0.0019%	1h	116.76	−0.039%	$4.3M	$23.7M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SOL	+0.0040%	1h	116.67	−0.111%	$2.2M	$16.9M	25x	as long as short
Bitget SOLUSDT	+0.0042%	8h	116.73	−0.062%	$480.7M	$460.5M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.70	−0.090%	$99K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.72	−0.072%	$8.0M	$404.6M	50x	as long as short
Aster SOLUSDT	+0.0084%	8h	116.73	−0.064%	$176.2M	$172.5M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0087%	8h	116.72	−0.073%	$1.0M	$6.0M	100x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.75	−0.048%	$1.0M	$553K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.70	−0.088%	$13.0M	$60.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.72	−0.075%	$352K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.64	−0.141%	$64K	$908K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.67	−0.113%	$5.5M	$41.1M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.85	+0.035%	$699.5M	$407.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.77	−0.030%	$15.7M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.74	−0.056%	$969.2M	$3.89B	100x	as long as short
OKX SOL-USDT-SWAPshort	+0.0100%	8h	116.73	−0.064%	$368.7M	$1.78B	100x
Ondo Perps SOL-USD.P	+0.0100%	1h	116.80	−0.004%	$217K	$867K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.68	−0.105%	$901K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.304%	$124.6M	$26.6M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.73	−0.064%	$852.7M	$672.5M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.74	−0.056%	$366.2M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.74	−0.055%	$130.2M	$232.6M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.73	−0.064%	—	$374.3M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.71	−0.082%	$23.1M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.73	−0.060%	$24.9M	$110.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.60	−0.179%	$93.6M	$408.7M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.65	−0.133%	$47.7M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.70	−0.090%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.84	+0.030%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.68	−0.107%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.72	−0.074%	$249K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.71	−0.079%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.66	−0.120%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.72	−0.073%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.68	−0.111%	$226.0M	$50.8M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.74	−0.056%	$45.4M	$105.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.71	−0.084%	$8.0M	$39.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0116%	1h	116.79	−0.015%	$26.4M	$21.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.81	+0.001%	—	$236.9M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.69	−0.099%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.93	+0.107%	$6.6M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0194%	1h	116.66	−0.121%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.71	−0.082%	$52.0M	$67.9M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.73	−0.063%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.74	−0.055%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0501%	1h	116.72	−0.070%	$25K	$57K	20x	as long as short