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: Katana Perps against Lighter RH+0.036%7-day average −0.042% · you sell dearer than you buy

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

Long on Lighter RH Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.036%, 7d avg −0.042%

Together, before fees−0.028%+ Points / potential airdropLighter RH: Points live · 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 0.078% dearer against Lighter RH than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	119.44	0.0096	pay 0.0012% / 1h	25m 22s	$2.1M	$16.9M	25x
Short	Katana Perps SOL-USD	119.48	0.0100	get 0.0100% / 8h	2h 25m	$45K	$783K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0.8
Price spread: +0.036% → −0.042%: $7.77
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $4.76
Costs to cover: 0.038%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 4 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 RH live order book, 4 min ago	1.43 bp	1.4 bp −$1	1.9 bp −$19	16.2 bp −$1,616	doesn't fit
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
Injective SOL/USDC PERP	−0.0151%	1h	119.15	−0.240%	$4K	$2K	12x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.27	−0.139%	$846	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	119.43	−0.010%	—	$724K	20x	as long as short
Derive SOL-PERP	−0.0054%	1h	119.43	−0.010%	$2.0M	$3.2M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.52	+0.066%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.48	+0.033%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.51	+0.060%	$180K	$4.0M	8.3x	as long as short
dYdX SOL-USD	0.0000%	1h	119.53	+0.074%	$4.9M	$26.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0013%	1h	119.22	−0.178%	$24K	$47K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0024%	1h	119.54	+0.086%	$26.8M	$27.7M	50x	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	+0.0060%	8h	119.41	−0.026%	$232.7M	$43.7M	75x	as long as short
Orderly PERP_SOL_USDC	+0.0060%	8h	119.54	+0.087%	$1.1M	$5.9M	100x	as long as short
Hibachi SOL/USDT-P	+0.0064%	1h	119.50	+0.057%	$122K	$602K	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	119.52	+0.069%	$105K	$152K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.49	+0.047%	—	$371.5M	—	as long as short
Gate SOL_USDT	+0.0086%	8h	119.49	+0.044%	$872.3M	$683.1M	100x	as long as short
ApeX Omni SOLUSDT	+0.0091%	1h	119.29	−0.123%	$1.5M	$6.2M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.45	+0.008%	$13.6M	$54.3M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	119.44	long leg	$2.1M	$16.9M	25x
Aevo SOL-PERP	+0.0096%	1h	119.46	+0.023%	$355K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.46	+0.018%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	119.48	+0.036%	$45K	$783K	20x
Nado SOL-PERP	+0.0100%	1h	119.44	+0.003%	$6.4M	$41.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.58	+0.120%	$721.9M	$416.2M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.51	+0.059%	$180.0M	$174.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.48	+0.033%	$12.4M	$114.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.50	+0.052%	$976.2M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.54	+0.088%	$827.7M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.53	+0.078%	$372.1M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.38	−0.048%	$234K	$874K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.55	+0.091%	$2.0M	$8.9M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.49	+0.044%	$475.4M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.49	+0.047%	$142.7M	$196.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.49	+0.047%	$499.5M	$449.8M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.49	+0.044%	$24.5M	$38.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.07	−0.308%	$27.5M	$127.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.25	−0.153%	$95.8M	$398.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.36	−0.065%	$48.8M	$33.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.41	−0.023%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.50	+0.053%	$369K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.48	+0.037%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.51	+0.062%	$38K	$16K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.35	−0.076%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.48	+0.036%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.45	+0.011%	$46.7M	$100.3M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.98	−0.382%	$133.4M	$11.1M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	119.46	+0.022%	$8.7M	$37.0M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.52	+0.071%	$8.1M	$416.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.51	+0.064%	—	$217.6M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.53	+0.078%	$6.6M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	119.54	+0.089%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0179%	1h	119.48	+0.040%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.33	−0.090%	$51.7M	$86.1M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.51	+0.057%	$36.0M	$89.4M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0174%	1h	119.51	+0.061%	$3.6M	—	200x	as long as short