SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0097%/8h= +10.6% APRnext payment +$0.12 per $10,000 · paid last 24h −0.029%

Price spread now: Phoenix against Hibachi+0.094%61s7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs+$14as 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−$200.201% of the position

Long on Hibachi Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.341%+$34 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now +0.094%, 7d avg +0.063%

Together, before fees+0.385%+ Points / potential airdropHibachi: Active · farm board+$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.031% dearer against Hibachi than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.063%. The two prices were read 61 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	Hibachi SOL/USDT-P	117.88	0.0032	pay 0.0004% / 1h	7m 48s	$105K	$696K	20x
Short	Phoenix SOL	117.99	0.0129	get 0.0016% / 1h	7m 48s	$6.5M	$13.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.094%Rate

Funding earned: $20.41
Price spread: +0.094% → +0.063%: $3.12
Slippage, 4 orders: −$4.08
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.45
Costs to cover: 0.201%
Break-even: 5.8 days

Slippage from Hibachi: live order book, 56 min ago; Phoenix: 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, 56 min ago	0.04 bp	4.5 bp −$5	16.8 bp −$168	doesn't fit	doesn't fit
Sell Phoenix live order book, 1 min ago	0.85 bp	4.6 bp −$5	5.7 bp −$57	11.3 bp −$1,126	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
Hotstuff SOL-PERP	−0.0080%	1h	117.65	−0.198%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	117.59	−0.243%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.60	−0.240%	$31.6M	$98.9M	100x	as long as short
Bluefin SOL-PERP	−0.0053%	1h	117.61	−0.224%	$25K	$28K	25x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.54	−0.285%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.66	−0.187%	$57K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.68	−0.171%	$4.5M	$24.1M	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0031%	1h	117.65	−0.197%	$26.4M	$24.9M	50x	as long as short
Hibachi SOL/USDT-Plong	+0.0032%	1h	117.88	long leg	$105K	$696K	20x
01 Exchange SOLUSD	+0.0064%	1h	117.65	−0.195%	$100K	$166K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.62	−0.218%	$7.9M	$403.6M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0090%	8h	117.63	−0.212%	$1.0M	$5.8M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.60	−0.237%	$13.2M	$60.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	117.59	−0.248%	$2.1M	$16.3M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.61	−0.226%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.64	−0.203%	$56K	$856K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.70	−0.152%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.63	−0.207%	$5.8M	$38.8M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.53	−0.296%	$176.9M	$180.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.69	−0.157%	$14.5M	$128.4M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.50	−0.325%	$968.1M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.52	−0.305%	$828.3M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.51	−0.314%	$365.2M	$1.64B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	−0.229%	$234K	$862K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.65	−0.191%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.96	+0.072%	$136.3M	$17.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.53	−0.297%	$858.7M	$655.3M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.54	−0.288%	$424.2M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.55	−0.284%	$130.4M	$213.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.51	−0.312%	$486.8M	$431.5M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	117.49	−0.331%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.57	−0.263%	$23.6M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.77	−0.091%	$24.4M	$114.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.72	−0.138%	$94.6M	$391.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.93	+0.043%	$48.3M	$28.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.83	−0.042%	$1.7M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.96	+0.068%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.62	−0.220%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.63	−0.214%	$199K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.63	−0.210%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.60	−0.237%	$6.2M	$10.7M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.67	−0.181%	$228.5M	$45.2M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.60	−0.237%	$45.9M	$100.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0103%	8h	117.66	−0.185%	$1.3M	$19.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.48	−0.336%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.61	−0.225%	—	$215.3M	500x	as long as short
Phoenix SOLshort	+0.0129%	1h	117.99	+0.094%	$6.5M	$13.4M	25x
RISEx SOL/USDC	+0.0136%	1h	117.70	−0.153%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0172%	1h	117.66	−0.186%	$719.7M	$387.6M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.60	−0.238%	$1.1M	$537K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.49	−0.330%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.69	−0.161%	$51.9M	$71.6M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.68	−0.170%	$127K	$3.7M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.62	−0.218%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0412%	1h	117.81	−0.063%	$25K	$52K	20x	as long as short