Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Katana Perps against Lighter−0.005%7-day average −0.044% · you buy dearer than you sell

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

Long on Lighter Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.005%, 7d avg −0.044%

Together, before fees+0.027%+ Points / potential airdropLighter: Season 3 · farm board+$3 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: Katana Perps is 0.039% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOL	119.52	0.0096	pay 0.0012% / 1h	56m 35s	$13.6M	$55.2M	25x
Short	Katana Perps SOL-USD	119.51	0.0100	get 0.0100% / 8h	56m 35s	$45K	$797K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.005%Rate

Funding earned: $0.8
Price spread: −0.005% → −0.044%: $3.92
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $0.91
Costs to cover: 0.038%
Break-even: from the start

Slippage unknown: Lighter: live order book, 7 min ago; Katana Perps: no order-book sample. 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 Lighter live order book, 7 min ago	0.67 bp	0.7 bp −$1	1.7 bp −$17	5.6 bp −$564	19.6 bp −$9,818
Sell Katana Perps no order-book sample	—	—	—	—	—

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
Hotstuff SOL-PERP	−0.0080%	1h	119.51	−0.007%	$847	$8K	25x	as long as short
Vest SOL-PERP	−0.0065%	1h	119.49	−0.020%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.44	−0.067%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.52	+0.003%	$115K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	119.55	+0.028%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.54	+0.022%	$1.2M	$20.6M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.50	−0.016%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.58	+0.054%	$6.6M	$13.7M	25x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	119.57	+0.045%	$104K	$157K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	119.52	+0.003%	$1.1M	$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
BingX SOL-USDT	+0.0080%	8h	119.55	+0.028%	—	$371.5M	—	as long as short
HTX SOL-USDT	+0.0083%	8h	119.48	−0.032%	$232.6M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0086%	8h	119.53	+0.012%	$870.9M	$672.1M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0088%	1h	119.58	+0.056%	$26.7M	$26.1M	50x	as long as short
Hibachi SOL/USDT-P	+0.0088%	1h	119.49	−0.025%	$118K	$608K	20x	as long as short
Aftermath Perps SOLUSD	+0.0090%	1h	119.35	−0.139%	$24K	$47K	20x	as long as short
Lighter SOLlong	+0.0096%	1h	119.52	long leg	$13.6M	$55.2M	25x
Lighter RH SOL	+0.0096%	1h	119.52	+0.007%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.48	−0.029%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.55	+0.029%	$8.3M	$418.1M	50x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.50	−0.013%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	119.51	−0.005%	$45K	$797K	20x
Nado SOL-PERP	+0.0100%	1h	119.50	−0.009%	$6.1M	$41.0M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.62	+0.087%	$722.0M	$411.1M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.53	+0.010%	$179.0M	$174.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.55	+0.028%	$12.3M	$119.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.55	+0.028%	$984.7M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.58	+0.054%	$831.5M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.53	+0.012%	$372.9M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.51	−0.005%	$234K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.56	+0.033%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.35	−0.139%	$133.8M	$7.0M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.52	+0.003%	$452.8M	$1.10B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.54	+0.023%	$140.1M	$203.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.53	+0.012%	$497.7M	$455.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.51	−0.005%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.26	−0.215%	$27.3M	$128.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.37	−0.120%	$95.9M	$400.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.37	−0.119%	$48.8M	$31.2M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.36	−0.133%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.55	+0.028%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.54	+0.020%	$371K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.50	−0.009%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.51	−0.002%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.45	−0.051%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.52	+0.003%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.47	−0.038%	$46.7M	$102.2M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.52	+0.001%	$8.7M	$35.9M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	119.53	+0.014%	$32.7M	$96.9M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.55	+0.027%	—	$224.3M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0070%	1h	119.52	+0.002%	$3.8M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.02	−0.415%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.51	−0.001%	$1.1M	$544K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.50	−0.013%	$52.1M	$84.2M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.57	+0.048%	$1.7M	$5.3M	20x	as long as short