Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: Paradex against Lighter−0.174%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$90.092% of the position

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 7 days+0.443%+$44 · spread now −0.174%, 7d avg −0.022%

Together, before fees+0.438%+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm board+$44 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: Paradex is 0.152% cheaper against Lighter than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOL	116.11	0.0096	pay 0.0012% / 1h	22m 10s	$13.0M	$61.1M	25x
Short	Paradex SOL-USD-PERP	115.91	0.0099	get 0.0099% / 8h	2h 22m	$1.0M	$550K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.174%Rate

Funding earned: $0.73
Price spread: −0.174% → −0.022%: −$15.18
Slippage, 4 orders: −$5.21
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$23.65
Costs to cover: 0.092%
Break-even: 232.4 days

Slippage from Lighter: live order book, 7 min ago; Paradex: live order book, 2 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, 7 min ago	0.56 bp	0.9 bp −$1	1.8 bp −$18	8.4 bp −$842	23.8 bp −$11.9K
Sell Paradex live order book, 2 min ago	1.64 bp	3.6 bp −$4	9.4 bp −$94	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	−0.0240%	1h	116.13	+0.017%	$31.7M	$102.9M	100x	as long as short
Hibachi SOL/USDT-P	−0.0152%	1h	115.72	−0.335%	$103K	$693K	20x	as long as short
BingX SOL-USDT	−0.0115%	8h	116.02	−0.077%	—	$368.3M	—	as long as short
Bybit SOLUSDT	−0.0110%	8h	116.09	−0.017%	$742.0M	$1.42B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.33	+0.191%	$1K	$8K	25x	as long as short
Vest SOL-PERP	−0.0068%	1h	115.92	−0.160%	—	$625K	20x	as long as short
Derive SOL-PERP	−0.0015%	1h	116.02	−0.076%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.06	−0.042%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.07	−0.032%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.97	−0.123%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0011%	1h	115.90	−0.181%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0024%	1h	115.96	−0.129%	$98K	$176K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.13	+0.021%	$7.8M	$404.1M	50x	as long as short
Bitget SOLUSDT	+0.0065%	8h	116.08	−0.028%	$478.4M	$457.2M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	116.10	−0.009%	$1.0M	$5.9M	100x	as long as short
Lighter SOLlong	+0.0096%	1h	116.11	long leg	$13.0M	$61.1M	25x
Lighter RH SOL	+0.0096%	1h	116.09	−0.015%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.10	−0.013%	$349K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.89	−0.189%	$64K	$915K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0099%	8h	115.91	−0.174%	$1.0M	$550K	50x
Nado SOL-PERP	+0.0100%	1h	115.89	−0.189%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.03	−0.069%	$686.0M	$400.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.10	−0.005%	$175.5M	$179.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	115.92	−0.165%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.13	+0.016%	$967.8M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.13	+0.017%	$362.1M	$1.73B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.87	−0.207%	$215K	$872K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.96	−0.128%	$914K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.85	−0.222%	$123.9M	$22.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.96	−0.129%	$841.2M	$669.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.13	+0.017%	$358.0M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.10	−0.006%	$125.3M	$229.9M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.81	−0.258%	$22.8M	$38.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.53	−0.503%	$24.7M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.59	−0.449%	$92.8M	$406.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.67	−0.379%	$47.3M	$30.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.61	−0.431%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.69	−0.362%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.96	−0.129%	$319K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.00	−0.096%	$147K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.07	−0.034%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.95	−0.141%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.12	+0.009%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.00	−0.091%	$224.8M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.12	+0.009%	$45.2M	$104.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.06	−0.040%	$7.9M	$38.8M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0109%	1h	116.16	+0.044%	$26.3M	$22.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.00	−0.099%	—	$240.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	115.66	−0.388%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	115.69	−0.362%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.97	−0.122%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.79	−0.276%	$51.6M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	116.00	−0.097%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	116.00	−0.094%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0573%	1h	115.82	−0.246%	$25K	$53K	20x	as long as short