Funding arb · Price arb /

SOL

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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 RH+0.051%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$140.140% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days−0.078%−$8 · spread now +0.051%, 7d avg 0.000%

Together, before fees−0.154%+ Points / potential airdropLighter RH: Points live · farm board−$15 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: Bybit is 0.051% dearer against Lighter RH than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	118.86	0.0096	pay 0.0012% / 1h	50m 42s	$2.0M	$16.6M	25x
Short	Bybit SOLUSDT	118.92	0.0100	get 0.0100% / 8h	2h 50m	$822.7M	$1.26B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter RH. 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 Lighter RHbpFee BybitbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0.84
Price spread: +0.051% → 0.000%: $5.11
Slippage, 4 orders: −$3.03
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$8.07
Costs to cover: 0.140%
Break-even: 74.3 days

Slippage from Lighter RH: live order book, 3 min ago; Bybit: live order book, 3 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 RH live order book, 3 min ago	1.09 bp	1.1 bp −$1	1.6 bp −$16	18.7 bp −$1,873	doesn't fit
Sell Bybit live order book, 3 min ago	0.42 bp	5.9 bp −$6	7.2 bp −$72	11.4 bp −$1,136	21.4 bp −$10.7K

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	118.68	−0.147%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.77	−0.069%	$2.0M	$3.2M	13x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.77	−0.071%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.89	+0.033%	$843	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0072%	1h	118.98	+0.101%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	118.86	+0.006%	$49K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.91	+0.046%	$4.9M	$26.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.84	−0.016%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.83	−0.020%	$180K	$4.1M	8.3x	as long as short
ApeX Omni SOLUSDT	+0.0042%	1h	118.93	+0.060%	$1.5M	$6.2M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0048%	1h	118.91	+0.046%	$26.7M	$27.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0057%	8h	118.85	−0.002%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.86	+0.004%	$104K	$153K	20x	as long as short
HTX SOL-USDT	+0.0074%	8h	118.74	−0.093%	$231.4M	$43.8M	75x	as long as short
Gate SOL_USDT	+0.0081%	8h	118.87	+0.013%	$858.6M	$674.8M	100x	as long as short
KuCoin SOLUSDTM	+0.0088%	8h	118.89	+0.029%	$144.6M	$197.5M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.87	+0.014%	$13.4M	$53.0M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	118.86	long leg	$2.0M	$16.6M	25x
Aevo SOL-PERP	+0.0096%	1h	118.88	+0.020%	$353K	$746K	20x	as long as short
Bitget SOLUSDT	+0.0098%	8h	118.85	−0.003%	$496.2M	$451.5M	100x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.86	+0.006%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.85	−0.004%	$47K	$781K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.80	−0.048%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.97	+0.097%	$717.6M	$424.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.86	+0.006%	$179.3M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.90	+0.042%	$12.4M	$113.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.89	+0.029%	$974.5M	$3.75B	100x	as long as short
Bybit SOLUSDTshort	+0.0100%	8h	118.92	+0.051%	$822.7M	$1.26B	100x
OKX SOL-USDT-SWAP	+0.0100%	8h	118.86	+0.004%	$368.5M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	+0.004%	$233K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.84	−0.012%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.022%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.88	+0.021%	$467.2M	$1.07B	300x	as long as short
BingX SOL-USDC	+0.0100%	8h	118.86	+0.008%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.88	+0.021%	$24.3M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.07	+0.185%	$27.7M	$126.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.91	+0.046%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	+0.232%	$48.7M	$33.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.92	+0.055%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.82	−0.029%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.80	−0.043%	$200K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.84	−0.013%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.80	−0.049%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.83	−0.021%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.84	−0.013%	$46.4M	$99.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.86	+0.008%	$8.6M	$37.4M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.86	+0.008%	$8.1M	$414.6M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	119.00	+0.123%	$123K	$623K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.78	−0.064%	—	$218.3M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.122%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.85	−0.006%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.80	−0.046%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.81	−0.038%	$51.7M	$90.6M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.85	−0.005%	$36.1M	$90.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0173%	1h	118.84	−0.009%	$3.5M	—	200x	as long as short