Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Katana Perps+0.004%7-day average +0.047% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Katana Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days+0.020%+$2 · spread now +0.004%, 7d avg +0.047%

Together, before fees+0.016%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.042% cheaper against Katana Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	116.50	0.0100	pay 0.0100% / 8h	4h 48m	$48K	$858K	20x
Short	Lighter SOL	116.50	0.0096	get 0.0012% / 1h	48m 58s	$13.0M	$59.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Katana Perps. 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 Katana PerpsbpFee LighterbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$0.8
Price spread: +0.004% → +0.047%: −$4.22
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$8.82
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Lighter: live order book, 5 min ago. Net counts fees only.

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 Katana Perps no order-book sample	—	—	—	—	—
Sell Lighter live order book, 5 min ago	0.43 bp	0.7 bp −$1	1.8 bp −$18	6.0 bp −$599	22.6 bp −$11.3K

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Vest SOL-PERP	−0.0083%	1h	116.50	−0.002%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.73	+0.197%	$913	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0032%	1h	116.61	+0.099%	$103K	$700K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.52	+0.015%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.56	+0.055%	$1.4M	$18.7M	3.1x	as long as short
dYdX SOL-USD	+0.0001%	1h	116.56	+0.052%	$4.4M	$24.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0005%	1h	116.61	+0.094%	$1.3M	$6.2M	50x	as long as short
Derive SOL-PERP	+0.0012%	1h	116.44	−0.055%	$1.9M	$2.8M	13x	as long as short
01 Exchange SOLUSD	+0.0040%	1h	116.56	+0.052%	$99K	$168K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.52	+0.018%	$7.5M	$403.8M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.50	−0.002%	$30.9M	$100.5M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0085%	1h	116.56	+0.053%	$26.2M	$25.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.50	−0.003%	$1.0M	$5.8M	100x	as long as short
Lighter SOLshort	+0.0096%	1h	116.50	+0.004%	$13.0M	$59.6M	25x
Lighter RH SOL	+0.0096%	1h	116.49	−0.006%	$2.2M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.50	+0.001%	$341K	$236K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.61	+0.090%	$994K	$530K	50x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	116.50	long leg	$48K	$858K	20x
Nado SOL-PERP	+0.0100%	1h	116.52	+0.021%	$5.5M	$39.3M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.57	+0.060%	$706.0M	$395.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.48	−0.017%	$175.0M	$182.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.59	+0.079%	$15.7M	$129.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.52	+0.017%	$963.0M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.48	−0.017%	$791.9M	$1.33B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.54	+0.034%	$364.0M	$1.66B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.47	−0.026%	$232K	$852K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.54	+0.031%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.66	+0.135%	$133.8M	$20.4M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.49	−0.009%	$845.2M	$653.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.50	0.000%	$415.3M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.49	−0.005%	$126.4M	$216.8M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.50	+0.004%	$481.3M	$439.6M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.46	−0.037%	—	$365.4M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.47	−0.026%	$23.3M	$37.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.54	+0.038%	$24.4M	$114.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.65	+0.129%	$93.7M	$396.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.72	+0.185%	$47.7M	$29.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	116.60	+0.086%	$1.3M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.51	+0.009%	$331K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.51	+0.006%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.48	−0.021%	$25K	$29K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.49	−0.008%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.51	+0.009%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.50	0.000%	$226.1M	$46.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.54	+0.034%	$45.5M	$101.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.49	−0.009%	$8.0M	$36.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.57	+0.064%	—	$228.2M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	117.56	+0.910%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.76	+0.223%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.49	−0.008%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.49	−0.009%	$51.8M	$71.8M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.52	+0.015%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.60	+0.088%	$141K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0484%	1h	116.69	+0.164%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.59	+0.078%	$1.9M	$4.9M	20x	as long as short