Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h −0.063%

Price spread now: SunX against Hibachi+0.121%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on Hibachi Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 3 days (all we have)−0.244%−$24 · spread now +0.121%, 7d avg −0.043%

Together, before fees−0.148%+ Points / potential airdropHibachi: Active · farm board−$15 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 SunX is 0.164% dearer against Hibachi than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SOL/USDT-P	119.25	0.0008	pay 0.0001% / 1h	46m 54s	$120K	$618K	20x
Short	SunX SOL-USDT	119.40	0.0100	get 0.0100% / 8h	1h 46m	$194K	$1.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.121%Rate

Funding earned: $19.32
Price spread: +0.121% → −0.043%: $16.37
Slippage, 4 orders: −$34.25
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$15.56
Costs to cover: 0.512%
Break-even: 12.6 days

Slippage from Hibachi: live order book, 37 min ago; SunX: 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, 37 min ago	0.50 bp	5.0 bp −$5	20.3 bp −$203	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	3.26 bp	20.3 bp −$20	33.2 bp −$332	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
Bluefin SOL-PERP	−0.0788%	1h	119.30	+0.037%	$37K	$17K	25x	as long as short
Derive SOL-PERP	−0.0080%	1h	119.23	−0.018%	$2.0M	$3.0M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.42	+0.137%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0064%	1h	119.31	+0.044%	—	$722K	20x	as long as short
dYdX SOL-USD	−0.0003%	1h	119.43	+0.146%	$4.9M	$27.2M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.30	+0.039%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.40	+0.120%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.30	+0.036%	$178K	$4.0M	8.3x	as long as short
Hibachi SOL/USDT-Plong	+0.0008%	1h	119.25	long leg	$120K	$618K	20x
Phoenix SOL	+0.0054%	1h	119.20	−0.045%	$6.6M	$13.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SOLUSD	+0.0057%	1h	119.27	+0.014%	$24K	$47K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0065%	8h	119.32	+0.052%	$1.1M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0069%	8h	119.27	+0.015%	$232.3M	$44.5M	75x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.32	+0.055%	—	$374.1M	—	as long as short
01 Exchange SOLUSD	+0.0088%	1h	119.44	+0.156%	$104K	$153K	20x	as long as short
Lighter SOL	+0.0096%	1h	119.29	+0.033%	$13.6M	$55.0M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	119.28	+0.018%	$2.1M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.30	+0.042%	$353K	$748K	20x	as long as short
Gate SOL_USDT	+0.0097%	8h	119.28	+0.022%	$869.6M	$677.5M	100x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.33	+0.066%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.39	+0.114%	$46K	$789K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.40	+0.119%	$6.3M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.43	+0.148%	$720.5M	$414.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.34	+0.071%	$178.6M	$176.1M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.43	+0.146%	$12.4M	$116.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.36	+0.089%	$983.2M	$3.79B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.39	+0.114%	$825.1M	$1.27B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.35	+0.081%	$372.0M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.10	−0.129%	$234K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.46	+0.173%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.15	−0.085%	$133.6M	$9.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.38	+0.106%	$439.0M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.37	+0.098%	$140.9M	$199.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.36	+0.091%	$496.2M	$454.0M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.34	+0.073%	$24.1M	$38.7M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.16	−0.074%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.18	−0.064%	$95.7M	$398.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.10	−0.129%	$48.7M	$32.5M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.10	−0.129%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.15	−0.087%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.40	+0.123%	$366K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.27	+0.012%	$202K	$1.7M	20x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	119.40	+0.121%	$194K	$1.9M	30x
SoDEX SOL-USD	+0.0100%	1h	119.29	+0.031%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.25	−0.003%	$46.6M	$102.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.33	+0.068%	$8.7M	$36.5M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.32	+0.058%	$8.2M	$415.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.35	+0.085%	—	$221.8M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.28	+0.023%	$32.6M	$94.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0152%	1h	119.36	+0.092%	$26.8M	$27.6M	50x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0089%	1h	119.29	+0.034%	$3.6M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0181%	1h	119.36	+0.090%	$1.1M	$558K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.45	+0.163%	$1.6M	$6.0M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.13	−0.104%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.36	+0.089%	$52.2M	$84.6M	125x	as long as short