Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.028%

Price spread now: Kalshi against Lighter RH+0.065%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Lighter RH Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 7 days+0.011%+$1 · spread now +0.065%, 7d avg +0.023%

Together, before fees−0.019%+ Points / potential airdropLighter RH: Points live · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.042% dearer against Lighter RH than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of +0.023%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 7 days (−0.030% in total) that is about 10.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	116.43	0.0096	pay 0.0012% / 1h	47m 04s	$2.2M	$14.8M	25x
Short	Kalshi KXSOLPERP	116.51	0	get 0.0000% / 8h	3h 47m	$1.4M	$19.4M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.065%Rate

Funding earned: −$20.16
Price spread: +0.065% → +0.023%: $4.24
Slippage, 4 orders: −$8.33
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$34.25
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; Kalshi: 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 RH live order book, 2 min ago	1.07 bp	1.2 bp −$1	1.6 bp −$16	17.8 bp −$1,781	doesn't fit
Sell Kalshi live order book, 2 min ago	1.37 bp	7.3 bp −$7	12.1 bp −$121	17.9 bp −$1,794	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
Phemex SOLUSDT	−0.0130%	8h	116.47	+0.033%	$45.3M	$103.4M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.53	+0.082%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0057%	1h	116.47	+0.035%	$32.3M	$106.2M	100x	as long as short
Vest SOL-PERP	−0.0010%	1h	116.45	+0.020%	—	$636K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.48	+0.044%	$42K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	116.48	+0.041%	$4.3M	$23.4M	20x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	116.51	+0.065%	$1.4M	$19.4M	3.1x
Perpl SOL	0.0000%	43m	116.44	+0.007%	$99K	$3.4M	8.3x	as long as short
Derive SOL-PERP	+0.0007%	1h	116.38	−0.044%	$1.9M	$3.0M	13x	as long as short
Bitget SOLUSDT	+0.0025%	8h	116.44	+0.010%	$480.4M	$453.4M	100x	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	+0.0036%	1h	116.51	+0.064%	$26.2M	$21.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0040%	1h	116.48	+0.040%	$7.8M	$395.3M	50x	as long as short
Bybit SOLUSDT	+0.0041%	8h	116.43	−0.002%	$732.3M	$1.41B	100x	as long as short
Aster SOLUSDT	+0.0054%	8h	116.45	+0.015%	$177.2M	$169.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0069%	8h	116.48	+0.044%	$1.0M	$6.0M	100x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	116.49	+0.047%	$103K	$680K	20x	as long as short
Lighter SOL	+0.0096%	1h	116.44	+0.008%	$13.1M	$55.8M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	116.43	long leg	$2.2M	$14.8M	25x
Aevo SOL-PERP	+0.0096%	1h	116.43	−0.001%	$351K	$255K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	116.53	+0.082%	$1.0M	$555K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.45	+0.015%	$64K	$903K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.48	+0.044%	$5.4M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.57	+0.119%	$696.4M	$406.6M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.53	+0.082%	$15.7M	$130.2M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.44	+0.007%	$963.1M	$3.84B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.44	+0.007%	$366.5M	$1.75B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.47	+0.033%	$219K	$851K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.49	+0.052%	$920K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.45	+0.015%	$848.8M	$607.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.44	+0.007%	$371.7M	$1.05B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.44	+0.008%	$129.7M	$237.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.45	+0.017%	—	$372.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.46	+0.024%	$22.9M	$36.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.45	+0.012%	$24.9M	$105.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.42	−0.010%	$93.5M	$405.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.45	+0.015%	$47.6M	$28.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.51	+0.068%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.47	+0.033%	$1.3M	$11.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.50	+0.058%	$319K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.49	+0.046%	$282K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.45	+0.016%	$27K	$37K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.42	−0.010%	$189K	$1.7M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.43	−0.002%	$6.1M	$11.0M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.45	+0.014%	$225.5M	$50.6M	75x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	+0.015%	$126.0M	$25.6M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.40	−0.032%	$8.3M	$36.6M	50x	as long as short
01 Exchange SOLUSD	+0.0120%	1h	116.53	+0.084%	$100K	$182K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.51	+0.067%	—	$231.2M	500x	as long as short
Phoenix SOL	+0.0124%	1h	116.53	+0.084%	$6.5M	$13.4M	25x	as long as short
Injective SOL/USDC PERP	+0.0179%	1h	116.34	−0.079%	$4K	$124	12x	as long as short
Reya SOLRUSDPERP	+0.0197%	1h	116.43	0.000%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.44	+0.007%	$52.1M	$64.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.45	+0.018%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0414%	1h	116.45	+0.014%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0480%	1h	116.51	+0.071%	$2.1M	$4.8M	20x	as long as short