Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h +0.042%

Price spread now: Hibachi against KuCoin+0.094%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on KuCoin Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.192%+$19 · spread now +0.094%, 7d avg +0.030%

Together, before fees+0.195%+ Points / potential airdropHibachi: Active · farm board+$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hibachi is 0.063% dearer against KuCoin than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of +0.030%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 25 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% 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	KuCoin SOLUSDTM	116.91	0.0100	pay 0.0100% / 8h	2h 10m	$127.3M	$230.9M	75x
Short	Hibachi SOL/USDT-P	117.02	−0.0104	pay 0.0013% / 1h	10m 58s	$103K	$696K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against KuCoin. 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 KuCoinbpFee HibachibpOrdersPrice spread, now +0.094%Rate

Funding earned: −$42.84
Price spread: +0.094% → +0.030%: $6.31
Slippage, 4 orders: −$6.89
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$64.42
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Hibachi: live order book, 38 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 KuCoin live order book, 3 min ago	0.43 bp	7.4 bp −$7	10.0 bp −$100	17.1 bp −$1,707	doesn't fit
Sell Hibachi live order book, 38 min ago	0.30 bp	5.1 bp −$5	20.8 bp −$208	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	−0.0239%	1h	116.96	+0.046%	$32.0M	$102.8M	100x	as long as short
BingX SOL-USDT	−0.0106%	8h	116.90	−0.006%	—	$370.3M	—	as long as short
Hibachi SOL/USDT-Pshort	−0.0104%	1h	117.02	+0.094%	$103K	$696K	20x
Bybit SOLUSDT	−0.0104%	8h	116.90	−0.009%	$741.8M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.75	−0.138%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0042%	1h	116.96	+0.041%	—	$625K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.94	+0.023%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.97	+0.056%	$1.5M	$19.4M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.99	+0.067%	$114K	$3.7M	8.3x	as long as short
dYdX SOL-USD	+0.0008%	1h	117.01	+0.086%	$4.3M	$24.0M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Derive SOL-PERP	+0.0014%	1h	116.88	−0.030%	$1.9M	$2.9M	13x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.99	+0.068%	$100K	$178K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.98	+0.059%	$7.8M	$407.2M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0050%	1h	117.01	+0.084%	$26.4M	$21.9M	50x	as long as short
Bitget SOLUSDT	+0.0063%	8h	116.88	−0.027%	$481.7M	$461.1M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0095%	8h	116.94	+0.027%	$1.0M	$6.0M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.95	+0.035%	$13.0M	$61.5M	25x	as long as short
Lighter RH SOL	+0.0096%	1h	116.94	+0.027%	$2.3M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.94	+0.024%	$352K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.91	0.000%	$64K	$907K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.04	+0.108%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.94	+0.028%	$5.3M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	117.06	+0.128%	$700.5M	$407.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.93	+0.017%	$176.3M	$176.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.99	+0.072%	$15.8M	$130.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.91	−0.003%	$974.3M	$3.90B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.90	−0.009%	$370.9M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.92	+0.009%	$218K	$881K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.97	+0.051%	$912K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.95	+0.034%	$125.5M	$23.3M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.95	+0.034%	$844.7M	$674.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.90	−0.009%	$368.7M	$1.09B	300x	as long as short
KuCoin SOLUSDTMlong	+0.0100%	8h	116.91	long leg	$127.3M	$230.9M	75x
Backpack SOL_USDC_PERP	+0.0100%	1h	116.94	+0.026%	$23.1M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.46	−0.389%	$25.1M	$113.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.83	−0.066%	$93.8M	$409.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.62	−0.248%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.98	+0.063%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.96	+0.043%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.96	+0.043%	$318K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.91	−0.001%	$167K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.93	+0.021%	$25K	$34K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.94	+0.023%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.95	+0.034%	$6.1M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.95	+0.034%	$226.5M	$50.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.97	+0.051%	$45.5M	$105.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.85	−0.054%	$8.0M	$39.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.94	+0.030%	—	$237.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−1.069%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	116.74	−0.145%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	116.95	+0.031%	$1.1M	$543K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.93	+0.017%	$51.7M	$68.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.92	+0.008%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0535%	1h	116.68	−0.196%	$25K	$55K	20x	as long as short
RISEx SOL/USDC	+0.0547%	1h	117.02	+0.096%	$2.1M	$4.9M	20x	as long as short