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: Variational Omni against Lighter RH+0.107%7-day average +0.008% · you sell dearer than you buy

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

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.144%−$14 · spread now +0.107%, 7d avg +0.008%

Together, before fees−0.145%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board−$14 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: Variational Omni is 0.099% dearer against Lighter RH than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	118.73	0.0096	pay 0.0012% / 1h	49m 01s	$2.0M	$16.6M	25x
Short	Variational Omni SOL	118.86	0.0100	get 0.0100% / 8h	2h 49m	$28.3M	$126.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.107%Rate

Funding earned: $0.84
Price spread: +0.107% → +0.008%: $9.91
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $10.75
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. 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, 5 min ago	1.09 bp	1.1 bp −$1	1.6 bp −$16	18.7 bp −$1,873	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	1.22 bp	doesn't fit	2.0 bp −$20	9.8 bp −$980	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
Injective SOL/USDC PERP	−0.0151%	1h	118.89	+0.136%	$4K	$2K	12x	as long as short
Derive SOL-PERP	−0.0104%	1h	118.66	−0.055%	$2.0M	$3.2M	13x	as long as short
ApeX Omni SOLUSDT	−0.0100%	1h	118.77	+0.038%	$1.5M	$6.2M	50x	as long as short
Vest SOL-PERP	−0.0082%	1h	118.74	+0.012%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.80	+0.060%	$842	$8K	25x	as long as short
Aftermath Perps SOLUSD	−0.0062%	1h	118.93	+0.173%	$24K	$48K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.79	+0.052%	$48K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.85	+0.103%	$4.9M	$26.8M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.86	+0.109%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.77	+0.035%	$179K	$4.0M	8.3x	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	+0.0023%	1h	118.80	+0.063%	$26.7M	$27.8M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0057%	8h	118.75	+0.018%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	118.80	+0.061%	$104K	$152K	20x	as long as short
HTX SOL-USDT	+0.0073%	8h	118.80	+0.060%	$231.5M	$43.8M	75x	as long as short
Gate SOL_USDT	+0.0081%	8h	118.78	+0.044%	$858.2M	$675.4M	100x	as long as short
KuCoin SOLUSDTM	+0.0090%	8h	118.78	+0.041%	$144.1M	$197.6M	75x	as long as short
Lighter SOL	+0.0096%	1h	118.74	+0.011%	$13.4M	$53.0M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	118.73	long leg	$2.0M	$16.6M	25x
Aevo SOL-PERP	+0.0096%	1h	118.77	+0.035%	$353K	$741K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	118.77	+0.035%	$1.0M	$524K	50x	as long as short
Bitget SOLUSDT	+0.0099%	8h	118.78	+0.041%	$495.8M	$450.6M	100x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.79	+0.052%	$46K	$785K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.74	+0.009%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.84	+0.093%	$716.8M	$424.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.79	+0.054%	$179.2M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.82	+0.080%	$12.3M	$113.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.85	+0.100%	$971.5M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.00	+0.227%	$823.0M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.95	+0.187%	$368.2M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.86	+0.111%	$233K	$868K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.82	+0.080%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.88	+0.129%	$133.2M	$12.7M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.79	+0.052%	$465.3M	$1.07B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.83	+0.088%	—	$372.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.76	+0.027%	$24.2M	$37.9M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	118.86	+0.107%	$28.3M	$126.8M	—
edgeX SOLUSDC	+0.0100%	4h	118.91	+0.153%	$95.5M	$396.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.87	+0.119%	$48.7M	$33.1M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.86	+0.111%	$1.4M	$13.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.78	+0.044%	$362K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.75	+0.020%	$201K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.74	+0.013%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.73	−0.002%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.73	+0.002%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.76	+0.027%	$46.3M	$99.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.75	+0.019%	$8.6M	$37.4M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	118.79	+0.054%	$8.1M	$414.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	118.85	+0.100%	$123K	$622K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.81	+0.067%	—	$218.7M	500x	as long as short
Phoenix SOL	+0.0154%	1h	119.00	+0.229%	$6.7M	$12.5M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0171% / S −0.0088%	1h	118.79	+0.049%	$3.6M	—	200x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.81	+0.070%	$1.6M	$6.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.77	+0.035%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.72	−0.007%	$51.6M	$89.3M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0224%	1h	118.77	+0.033%	$36.1M	$90.3M	100x	as long as short