Funding arb · Price arb /

SOL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Variational Omni−0.139%7-day average −0.007% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%$0 on $10k

Price spread, last 7 days+0.158%+$16 · spread now −0.139%, 7d avg −0.007%

Together, before fees+0.163%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$16 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: Lighter is 0.132% cheaper against Variational Omni than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SOL	118.70	0.0100	pay 0.0100% / 8h	11m 49s	$27.0M	$129.2M	—
Short	Lighter SOL	118.53	0.0096	get 0.0012% / 1h	11m 49s	$13.4M	$56.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$0.84
Price spread: −0.139% → −0.007%: −$13.21
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$14.05
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 7 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 Variational Omni RFQ quote, 2 min ago	1.18 bp	doesn't fit	3.0 bp −$30	8.9 bp −$886	doesn't fit
Sell Lighter live order book, 7 min ago	0.42 bp	1.0 bp −$1	1.7 bp −$17	5.1 bp −$506	19.2 bp −$9,584

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
Derive SOL-PERP	−0.0100%	1h	118.47	−0.194%	$2.0M	$2.8M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	118.54	−0.134%	$840	$8K	25x	as long as short
Vest SOL-PERP	−0.0076%	1h	118.53	−0.139%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	118.58	−0.097%	$4.8M	$28.0M	20x	as long as short
ApeX Omni SOLUSDT	−0.0015%	1h	118.62	−0.066%	$1.5M	$6.2M	50x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	118.58	−0.101%	$113K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.60	−0.086%	$1.2M	$20.8M	3.1x	as long as short
Perpl SOL	0.0000%	43m	118.61	−0.075%	$175K	$3.9M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0044%	1h	118.60	−0.084%	$26.6M	$25.8M	50x	as long as short
Gate SOL_USDT	+0.0075%	8h	118.56	−0.116%	$865.1M	$686.4M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDC	+0.0076%	8h	118.57	−0.109%	$1.0M	$5.9M	100x	as long as short
HTX SOL-USDT	+0.0078%	8h	118.51	−0.161%	$230.7M	$45.2M	75x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	118.61	−0.074%	$103K	$158K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	118.52	−0.151%	—	$373.1M	—	as long as short
Lighter SOLshort	+0.0096%	1h	118.53	−0.139%	$13.4M	$56.6M	25x
Lighter RH SOL	+0.0096%	1h	118.52	−0.148%	$2.1M	$17.1M	25x	as long as short
Hibachi SOL/USDT-P	+0.0096%	1h	118.62	−0.062%	$120K	$632K	20x	as long as short
Aevo SOL-PERP	+0.0096%	1h	118.54	−0.135%	$351K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	118.57	−0.108%	$8.1M	$416.0M	50x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	118.59	−0.088%	$1.0M	$521K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	118.58	−0.099%	$45K	$802K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	118.61	−0.070%	$5.7M	$40.9M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.67	−0.023%	$717.5M	$411.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	118.57	−0.104%	$178.3M	$177.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	118.62	−0.064%	$12.2M	$121.9M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	118.52	−0.149%	$976.8M	$3.83B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	118.53	−0.141%	$821.8M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	118.51	−0.158%	$369.6M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	118.54	−0.133%	$228K	$876K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	118.61	−0.076%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.73	+0.025%	$133.6M	$4.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	118.57	−0.108%	$425.7M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	118.60	−0.085%	$137.6M	$206.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	118.46	−0.199%	$491.4M	$459.7M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	118.57	−0.108%	$24.1M	$38.6M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	118.70	long leg	$27.0M	$129.2M	—
edgeX SOLUSDC	+0.0100%	4h	118.65	−0.044%	$95.3M	$404.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.68	−0.014%	$48.6M	$31.2M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.57	−0.108%	$1.3M	$13.6M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	118.58	−0.099%	$360K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	118.57	−0.109%	$202K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	118.57	−0.111%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	118.55	−0.128%	$192K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	118.54	−0.133%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.56	−0.116%	$46.3M	$102.7M	50x	as long as short
Phoenix SOL	+0.0100%	1h	118.77	+0.061%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	118.57	−0.106%	$8.6M	$36.0M	50x	as long as short
Kraken Futures PF_SOLUSD	+0.0106%	1h	118.55	−0.126%	$32.5M	$97.2M	100x	as long as short
Aftermath Perps SOLUSD	+0.0110%	1h	118.64	−0.046%	$24K	$47K	20x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	118.54	−0.135%	—	$226.2M	500x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0167% / S −0.0064%	1h	118.58	−0.099%	$3.7M	—	200x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	118.91	+0.179%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0184%	1h	118.55	−0.123%	$1.1M	$538K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	118.55	−0.125%	$51.8M	$80.3M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	118.56	−0.112%	$1.8M	$4.9M	20x	as long as short