Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:31 UTC−0.0239%/8h= −26.2% APRpaid last 24h +0.016%

Price spread now: Lighter against Perpl−0.025%7-day average +0.025% · you buy dearer than you sell

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

Long on Perpl Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.270%+$27 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.025%, 7d avg +0.025%

Together, before fees+0.280%+ Points / potential airdropPerpl: Active · Lighter: Season 3 · farm board+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.050% cheaper against Perpl than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.025%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.270%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl SOL	116.53	0.0335	pay 0.0030% / 43m	10m 16s	$132K	$3.7M	8.3x
Short	Lighter SOL	116.50	0.0096	get 0.0012% / 1h	13m 16s	$13.1M	$60.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Perpl. 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 PerplbpFee LighterbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$50.17
Price spread: −0.025% → +0.025%: −$5.03
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$69
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Perpl: no order-book sample; Lighter: live order book, 6 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 Perpl no order-book sample	—	—	—	—	—
Sell Lighter live order book, 6 min ago	0.34 bp	0.5 bp $0	1.6 bp −$16	5.5 bp −$548	20.6 bp −$10.3K

Perpl: 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
Hibachi SOL/USDT-P	−0.0208%	1h	116.59	+0.051%	$105K	$703K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.52	−0.011%	$31.3M	$102.2M	100x	as long as short
Vest SOL-PERP	−0.0107%	1h	116.45	−0.070%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.61	+0.071%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0056%	8h	116.42	−0.099%	$751.2M	$1.39B	100x	as long as short
Derive SOL-PERP	−0.0030%	1h	116.42	−0.095%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.51	−0.019%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.52	−0.004%	$1.4M	$19.1M	3.1x	as long as short
dYdX SOL-USD	+0.0011%	1h	116.49	−0.035%	$4.4M	$24.2M	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.52	−0.005%	$7.6M	$405.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet SOL-USD	+0.0060%	1h	116.49	−0.033%	$147K	$1.6M	20x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.53	0.000%	$99K	$175K	20x	as long as short
Bitget SOLUSDT	+0.0092%	8h	116.47	−0.052%	$480.7M	$447.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0094%	8h	116.51	−0.021%	$1.0M	$5.9M	100x	as long as short
Lighter SOLshort	+0.0096%	1h	116.50	−0.025%	$13.1M	$60.5M	25x
Lighter RH SOL	+0.0096%	1h	116.49	−0.037%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.51	−0.014%	$350K	$247K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.46	−0.060%	$61K	$896K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.52	−0.011%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.47	−0.047%	$5.4M	$40.4M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.61	+0.069%	$702.5M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.48	−0.043%	$174.5M	$183.4M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.53	−0.002%	$15.7M	$130.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.51	−0.017%	$971.7M	$3.83B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.51	−0.017%	$367.3M	$1.70B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.42	−0.094%	$227K	$844K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.54	+0.007%	$919K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.45	−0.067%	$133.0M	$16.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.48	−0.043%	$855.8M	$667.9M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.51	−0.017%	$368.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.49	−0.031%	$128.8M	$224.1M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.49	−0.037%	—	$364.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.49	−0.034%	$23.0M	$40.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.48	−0.039%	$24.4M	$113.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.58	+0.043%	$93.6M	$401.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.51	−0.019%	$47.7M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.71	+0.154%	$1.3M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.50	−0.026%	$1.3M	$12.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.48	−0.043%	$320K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.51	−0.017%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.50	−0.022%	$189K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.50	−0.026%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.48	−0.043%	$225.7M	$48.3M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.51	−0.017%	$45.3M	$103.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.44	−0.077%	$8.2M	$37.8M	50x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.70	+0.146%	$4K	$2K	12x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0110%	1h	116.55	+0.019%	$26.3M	$23.3M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.52	−0.006%	—	$235.7M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.60	+0.060%	$6.5M	$13.8M	25x	as long as short
Reya SOLRUSDPERP	+0.0192%	1h	116.47	−0.055%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.50	−0.026%	$51.8M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.50	−0.026%	$3.6M	—	200x	as long as short
Perpl SOLlong	+0.0335%	43m	116.53	long leg	$132K	$3.7M	8.3x
RISEx SOL/USDC	+0.0561%	1h	116.58	+0.047%	$1.9M	$4.8M	20x	as long as short
Aftermath Perps SOLUSD	+0.0576%	1h	116.59	+0.051%	$25K	$52K	20x	as long as short