SOL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h −0.027%

Price spread now: Lighter against Phoenix−0.074%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$110.107% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 7 days−0.077%−$8 · spread now −0.074%, 7d avg −0.125%

Together, before fees−0.381%+ Points / potential airdropLighter: Season 3 · farm board−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.051% dearer against Phoenix than usual: you sell high and buy low (spread −0.074% now, against its 7-day average of −0.125%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 7 days (−0.304% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SOL	117.56	0.0129	pay 0.0016% / 1h	43m 22s	$6.5M	$13.4M	25x
Short	Lighter SOL	117.47	0.0096	get 0.0012% / 1h	43m 22s	$13.0M	$59.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$6.97
Price spread: −0.074% → −0.125%: $5.06
Slippage, 4 orders: −$3.66
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.57
Costs to cover: 0.107%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; Lighter: live order book, 6 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 Phoenix live order book, 6 min ago	0.85 bp	4.6 bp −$5	5.7 bp −$57	15.2 bp −$1,525	doesn't fit
Sell Lighter live order book, 6 min ago	0.26 bp	0.3 bp $0	1.3 bp −$13	5.2 bp −$524	18.4 bp −$9,212

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
Hotstuff SOL-PERP	−0.0080%	1h	117.36	−0.166%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0058%	1h	117.35	−0.176%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.49	−0.061%	$31.5M	$98.1M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.40	−0.137%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.44	−0.102%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.46	−0.086%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.43	−0.113%	$1.4M	$19.5M	3.1x	as long as short
HTX SOL-USDT	+0.0047%	8h	117.27	−0.248%	$227.8M	$45.6M	75x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.41	−0.128%	$100K	$163K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.37	−0.162%	$8.0M	$402.5M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SOL-USDT	+0.0070%	8h	117.43	−0.111%	—	$362.6M	—	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.34	−0.191%	$100K	$691K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.48	−0.071%	$1.0M	$5.8M	100x	as long as short
Lighter SOLshort	+0.0096%	1h	117.47	−0.074%	$13.0M	$59.2M	25x
Lighter RH SOL	+0.0096%	1h	117.45	−0.091%	$2.1M	$16.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.48	−0.071%	$344K	$225K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.36	−0.170%	$67K	$835K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.45	−0.092%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.42	−0.115%	$5.8M	$39.6M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.43	−0.111%	$176.2M	$176.8M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.50	−0.051%	$14.5M	$127.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.43	−0.112%	$967.1M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.46	−0.085%	$820.3M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.49	−0.060%	$365.4M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.21	−0.298%	$237K	$847K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.43	−0.109%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.45	−0.094%	$134.7M	$15.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.39	−0.145%	$857.7M	$646.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.41	−0.128%	$423.9M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.39	−0.149%	$130.0M	$212.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.47	−0.074%	$486.5M	$433.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.36	−0.170%	$23.6M	$37.1M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.36	−0.166%	$24.3M	$119.2M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.39	−0.146%	$94.3M	$401.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.27	−0.251%	$48.0M	$28.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.48	−0.068%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.38	−0.153%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.40	−0.136%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.42	−0.118%	$200K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.44	−0.104%	$25K	$27K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.42	−0.120%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.48	−0.068%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.37	−0.162%	$45.7M	$100.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.46	−0.086%	$8.2M	$36.0M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0112%	1h	117.54	−0.018%	$26.4M	$25.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.35	−0.183%	—	$220.8M	500x	as long as short
Phoenix SOLlong	+0.0129%	1h	117.56	long leg	$6.5M	$13.4M	25x
RISEx SOL/USDC	+0.0136%	1h	117.47	−0.075%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0160%	1h	117.51	−0.042%	$717.6M	$393.3M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.40	−0.135%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	−0.153%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.47	−0.077%	—	$70.5M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.43	−0.108%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0381%	1h	117.46	−0.089%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.46	−0.085%	$127K	$3.8M	8.3x	as long as short