Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.007%

Price spread now: Lighter against BingX+0.020%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$140.143% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days+0.002%$0 · spread now +0.020%, 7d avg +0.055%

Together, before fees+0.015%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.035% cheaper against BingX than usual: you would sell low and buy high (spread +0.020% now, against its 7-day average of +0.055%). If the spread goes back, that is −$3 on $10k: about 7.2 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.012% in total) that is about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SOL-USDC	118.59	0.0080	pay 0.0080% / 8h	10m 41s	—	$10.5M	—
Short	Lighter SOL	118.62	0.0096	get 0.0012% / 1h	10m 41s	$13.4M	$56.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.020%Rate

Funding earned: $3.36
Price spread: +0.020% → +0.055%: −$3.46
Slippage, 4 orders: −$4.32
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$14.42
Costs to cover: 0.143%
Break-even: 37.0 days

Slippage from BingX: live order book, 2 min ago; Lighter: live order book, 8 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 BingX live order book, 2 min ago	0.34 bp	7.1 bp −$7	9.1 bp −$91	13.7 bp −$1,375	27.8 bp −$13.9K
Sell Lighter live order book, 8 min ago	0.42 bp	1.0 bp −$1	1.7 bp −$17	5.1 bp −$506	19.2 bp −$9,584

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
Derive SOL-PERP	−0.0100%	1h	118.40	−0.166%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.49	−0.085%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.46	−0.113%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0021%	1h	118.58	−0.013%	$4.8M	$28.0M	20x	as long as short
ApeX Omni SOLUSDT	−0.0014%	1h	118.53	−0.056%	$1.5M	$6.2M	50x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.50	−0.081%	$113K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.62	+0.018%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.49	−0.086%	$174K	$3.9M	8.3x	as long as short
Gate SOL_USDT	+0.0071%	8h	118.55	−0.038%	$864.9M	$686.8M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0076%	8h	118.50	−0.083%	$1.0M	$5.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SOL-USDT	+0.0078%	8h	118.44	−0.129%	$230.5M	$45.2M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.69	+0.080%	$104K	$158K	20x	as long as short
BingX SOL-USDClong	+0.0080%	8h	118.59	long leg	—	$10.5M	—
Deribit SOL_USDC-PERPETUAL	+0.0083%	1h	118.53	−0.055%	$26.6M	$25.8M	50x	as long as short
Lighter SOLshort	+0.0096%	1h	118.62	+0.020%	$13.4M	$56.6M	25x
Lighter RH SOL	+0.0096%	1h	118.61	+0.012%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.62	+0.017%	$120K	$631K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.45	−0.118%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.50	−0.080%	$8.1M	$415.7M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.64	+0.036%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.62	+0.021%	$45K	$802K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.52	−0.066%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.65	+0.046%	$717.4M	$411.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.60	+0.001%	$178.3M	$177.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.65	+0.046%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.63	+0.029%	$977.7M	$3.83B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.63	+0.030%	$822.4M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.63	+0.030%	$369.8M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.58	−0.013%	$229K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.68	+0.069%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	+0.111%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.61	+0.013%	$425.6M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.56	−0.026%	$137.6M	$206.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.64	+0.041%	$492.2M	$459.4M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.49	−0.089%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	118.48	−0.099%	$26.9M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.54	−0.045%	$95.2M	$402.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.53	−0.057%	$48.6M	$31.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.57	−0.021%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.48	−0.097%	$358K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.47	−0.104%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.48	−0.096%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.46	−0.117%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.47	−0.105%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.48	−0.097%	$46.3M	$102.7M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.69	+0.080%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.63	+0.027%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.49	−0.089%	$32.5M	$97.2M	100x	as long as short
Aftermath Perps SOLUSD	+0.0111%	1h	118.62	+0.024%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.61	+0.013%	—	$226.1M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0064%	1h	118.49	−0.089%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.266%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.46	−0.110%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.48	−0.097%	$51.8M	$80.0M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.66	+0.054%	$1.8M	$4.9M	20x	as long as short