Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter+0.012%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$130.133% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.012%, 7d avg −0.002%

Together, before fees−0.078%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOL	119.43	0.0096	pay 0.0012% / 1h	13m 37s	$13.6M	$55.1M	25x
Short	Bybit SOLUSDT	119.44	0.0100	get 0.0100% / 8h	2h 13m	$826.0M	$1.27B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0.84
Price spread: +0.012% → −0.002%: $1.42
Slippage, 4 orders: −$2.31
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.05
Costs to cover: 0.133%
Break-even: 99.0 days

Slippage from Lighter: live order book, 5 min ago; Bybit: live order book, 6 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 Lighter live order book, 5 min ago	0.42 bp	0.4 bp $0	2.1 bp −$21	7.6 bp −$764	21.8 bp −$10.9K
Sell Bybit live order book, 6 min ago	0.42 bp	5.9 bp −$6	6.9 bp −$69	11.8 bp −$1,179	23.7 bp −$11.8K

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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.234%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.49	+0.050%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0072%	1h	119.46	+0.021%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0056%	1h	119.48	+0.043%	$2.0M	$3.2M	13x	as long as short
dYdX SOL-USD	−0.0004%	1h	119.50	+0.060%	$5.0M	$27.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.58	+0.121%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.54	+0.095%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.57	+0.114%	$179K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	119.62	+0.162%	$26.8M	$27.7M	50x	as long as short
Aftermath Perps SOLUSD	+0.0033%	1h	119.58	+0.126%	$24K	$47K	20x	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	+0.0051%	8h	119.52	+0.077%	$232.8M	$44.6M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0062%	8h	119.58	+0.127%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.46	+0.024%	$120K	$622K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.50	+0.059%	$105K	$152K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.45	+0.020%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.42	−0.008%	$871.7M	$688.0M	100x	as long as short
Lighter SOLlong	+0.0096%	1h	119.43	long leg	$13.6M	$55.1M	25x
Lighter RH SOL	+0.0096%	1h	119.42	−0.004%	$2.1M	$17.0M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.55	+0.104%	$355K	$747K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.41	−0.020%	$1.0M	$523K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.40	−0.025%	$49K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.49	+0.051%	$6.3M	$41.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.55	+0.100%	$721.7M	$414.5M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.49	+0.051%	$179.9M	$176.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.47	+0.032%	$12.4M	$115.5M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.42	−0.008%	$977.7M	$3.78B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	119.44	+0.012%	$826.0M	$1.27B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	119.42	−0.008%	$372.1M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.39	−0.033%	$235K	$871K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.49	+0.053%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.66	+0.191%	$134.1M	$11.3M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.42	−0.008%	$428.7M	$1.12B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.44	+0.008%	$140.9M	$197.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.42	−0.005%	$498.4M	$452.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.57	+0.117%	$24.3M	$38.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.47	+0.033%	$27.4M	$127.6M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.69	+0.221%	$96.1M	$402.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.56	+0.106%	$49.0M	$33.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.61	+0.153%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.42	−0.008%	$1.4M	$13.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.52	+0.075%	$365K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.56	+0.111%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.54	+0.094%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.46	+0.021%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.56	+0.109%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.57	+0.117%	$46.7M	$101.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.41	−0.016%	$8.7M	$36.7M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.61	+0.151%	$8.2M	$417.7M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.46	+0.024%	—	$221.4M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.58	+0.126%	$6.6M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0090%	1h	119.57	+0.117%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.41	−0.013%	$1.6M	$6.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	119.55	+0.104%	$1.1M	$558K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.41	−0.017%	$52.0M	$86.8M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0222%	1h	119.59	+0.135%	$35.6M	$91.2M	100x	as long as short