Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.010%

Price spread now: Lighter against Orderly−0.227%7-day average +0.006% · you buy dearer than you sell

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 3 days (all we have)+0.839%+$84 · spread now −0.227%, 7d avg +0.006%

Together, before fees+0.868%+ Points / potential airdropLighter: Season 3 · farm board+$87 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.233% cheaper against Orderly than usual: you would sell low and buy high (spread −0.227% now, against its 7-day average of +0.006%). If the spread goes back, that is −$23 on $10k: about 19 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.028% in total) that is about 58 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SOL_USDC	119.19	0.0056	pay 0.0056% / 8h	2h 54m	$1.1M	$5.9M	100x
Short	Lighter SOL	118.92	0.0096	get 0.0012% / 1h	54m 35s	$13.4M	$52.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Orderly. 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 OrderlybpFee LighterbpOrdersPrice spread, now −0.227%Rate

Funding earned: $8.47
Price spread: −0.227% → +0.006%: −$23.3
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.82
Costs to cover: 0.060%
Break-even: 24.2 days

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 4 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	0.63 bp	0.8 bp −$1	1.7 bp −$17	5.8 bp −$577	15.7 bp −$7,872

Orderly: 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	118.68	−0.430%	$4K	$2K	12x	as long as short
Aftermath Perps SOLUSD	−0.0084%	1h	119.05	−0.121%	$24K	$47K	20x	as long as short
Vest SOL-PERP	−0.0083%	1h	118.80	−0.328%	—	$726K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.79	−0.337%	$842	$8K	25x	as long as short
Derive SOL-PERP	−0.0065%	1h	119.11	−0.072%	$2.0M	$3.2M	13x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.19	−0.005%	$50K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	118.87	−0.270%	$4.9M	$26.8M	20x	as long as short
Perpl SOL	0.0000%	43m	118.76	−0.362%	$184K	$4.1M	8.3x	as long as short
Orderly PERP_SOL_USDClong	+0.0056%	8h	119.19	long leg	$1.1M	$5.9M	100x
01 Exchange SOLUSD	+0.0056%	1h	118.80	−0.329%	$104K	$153K	20x	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	+0.0070%	8h	119.04	−0.130%	$232.0M	$43.7M	75x	as long as short
Gate SOL_USDT	+0.0079%	8h	118.82	−0.312%	$857.6M	$673.6M	100x	as long as short
KuCoin SOLUSDTM	+0.0086%	8h	118.76	−0.361%	$144.9M	$197.3M	75x	as long as short
Lighter SOLshort	+0.0096%	1h	118.92	−0.227%	$13.4M	$52.8M	25x
Lighter RH SOL	+0.0096%	1h	118.86	−0.280%	$2.0M	$16.6M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.17	−0.019%	$354K	$746K	20x	as long as short
Bitget SOLUSDT	+0.0097%	8h	118.80	−0.331%	$495.9M	$451.6M	100x	as long as short
Paradex SOL-USD-PERP	+0.0098%	8h	118.74	−0.377%	$1.0M	$524K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.81	−0.320%	$47K	$781K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.75	−0.375%	$5.5M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.88	−0.262%	$717.4M	$423.3M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.90	−0.244%	$179.5M	$174.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.88	−0.262%	$12.4M	$113.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.73	−0.383%	$973.3M	$3.75B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.78	−0.346%	$822.3M	$1.26B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.75	−0.371%	$368.6M	$1.71B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.78	−0.346%	$233K	$867K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.87	−0.273%	$1.9M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.09	−0.088%	$133.4M	$13.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.83	−0.304%	$472.8M	$1.07B	300x	as long as short
BingX SOL-USDT	+0.0100%	8h	118.72	−0.392%	—	$373.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.19	−0.002%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.07	−0.099%	$27.7M	$126.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.93	−0.220%	$95.5M	$395.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.07	−0.101%	$48.7M	$33.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	118.99	−0.169%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.10	−0.077%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.77	−0.354%	$360K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.81	−0.317%	$200K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.18	−0.009%	$37K	$15K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.04	−0.125%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.18	−0.010%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.11	−0.069%	$46.5M	$99.9M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0101%	1h	119.25	+0.052%	$26.8M	$27.8M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	118.72	−0.397%	$8.7M	$37.3M	50x	as long as short
Kalshi KXSOLPERP	+0.0104%	8h	119.14	−0.044%	$1.2M	$20.9M	3.1x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.23	+0.031%	$8.1M	$415.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0120%	1h	119.02	−0.141%	$123K	$621K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.07	−0.105%	—	$217.6M	500x	as long as short
Phoenix SOL	+0.0149%	1h	119.15	−0.035%	$6.7M	$12.5M	25x	as long as short
RISEx SOL/USDC	+0.0175%	1h	118.84	−0.295%	$1.6M	$6.2M	20x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	118.80	−0.332%	$1.1M	$557K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.18	−0.010%	$52.0M	$91.2M	125x	as long as short
Kraken Futures PF_SOLUSD	+0.0223%	1h	119.20	+0.004%	$36.1M	$89.9M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0237% / S −0.0174%	1h	119.18	−0.010%	$3.6M	—	200x	as long as short