Funding arb · Price arb /

SOXL

RWAall SOXL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h +0.170%

Price spread now: GRVT against Lighter−0.207%78s7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.191% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 3 days (all we have)+0.336%+$34 · spread now −0.207%, 7d avg +0.053%

Together, before fees+0.307%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and GRVT is 0.261% cheaper against Lighter than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.053%). Swap the legs. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.029% in total (about -1.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOXL	144.87	0.0208	pay 0.0026% / 1h	18m 08s	$804K	$2.6M	20x
Short	GRVT SOXL_USDT_Perp	144.57	0	get 0.0000% / 8h	18m 08s	$71K	$163K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Lighter. 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 LighterbpFee GRVTbpOrdersPrice spread, now −0.207%Rate

Funding earned: −$43.68
Price spread: −0.207% → +0.053%: −$26.05
Slippage, 4 orders: −$10.14
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$88.87
Costs to cover: 0.191%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; GRVT: live order book, 59 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 Lighter live order book, 4 min ago	1.04 bp	1.0 bp −$1	2.5 bp −$25	54.3 bp −$5,426	doesn't fit
Sell GRVT live order book, 59 min ago	1.75 bp	6.2 bp −$6	18.1 bp −$181	doesn't fit	doesn't fit

SOXL on 28 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
Kraken Futures PF_SOXLUSD	−0.0023%	1h	144.81	−0.045%	$90K	$303K	20x	as long as short
Aster SOXLUSDT	0.0000%	8h	144.88	+0.009%	$216K	$1.6M	50x	as long as short
OKX SOXL-USDT-SWAP	0.0000%	8h	144.84	−0.021%	$25.7M	$184.5M	20x	as long as short
Gate SOXL_USDT	0.0000%	8h	144.84	−0.021%	$27.5M	$39.5M	50x	as long as short
Bitget SOXLUSDT	0.0000%	8h	144.80	−0.048%	$60.4M	$109.2M	20x	as long as short
Variational Omni SOXL	0.0000%	8h	144.68	−0.134%	$2.2M	$4.9M	—	as long as short
GRVT SOXL_USDT_Perpshort	0.0000%	8h	144.57	−0.207%	$71K	$163K	10x
SunX SOXL-USDT	0.0000%	8h	144.87	0.000%	$2K	$4.7M	10x	as long as short
HTX SOXL-USDT	0.0000%	8h	144.81	−0.041%	$194K	$559K	50x	as long as short
Phemex SOXLUSDT	0.0000%	8h	144.89	+0.014%	$2.5M	$1.2M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SOXL_USDT	+0.0010%	8h	144.88	+0.007%	$14.3M	$46.6M	200x	as long as short
Binance SOXLUSDT	+0.0015%	8h	144.88	+0.007%	$172.5M	$1.19B	50x	as long as short
Extended SOXL-USD	+0.0016%	1h	144.84	−0.019%	$27K	$338K	10x	as long as short
QFEX SOXL-USD	+0.0021%	1h	144.94	+0.048%	$308K	$257K	30x	as long as short
BloFin SOXL-USDT	+0.0027%	8h	144.96	+0.062%	$1.2M	$490K	50x	as long as short
Lighter RH SOXL	+0.0032%	1h	144.90	+0.021%	$343K	$1.9M	20x	as long as short
Ondo Perps SOXL-USD.P	+0.0050%	1h	144.68	−0.131%	$238K	$915K	10x	as long as short
KuCoin SOXLUSDTM	+0.0100%	8h	144.74	−0.090%	$6.9M	$10.9M	20x	as long as short
ApeX Omni SOXLUSDT	+0.0100%	1h	144.59	−0.193%	$38K	$141K	50x	as long as short
Orderly PERP_SOXL_USDC_mythos	+0.0100%	8h	144.87	0.000%	$1K	$5K	20x	as long as short
Aevo SOXL-PERP	+0.0104%	1h	144.78	−0.063%	$6K	—	10x	as long as short
Bybit SOXLUSDT	+0.0110%	8h	144.88	+0.007%	$51.6M	$178.2M	100x	as long as short
Coinbase International SOXL-PERP-INTX	+0.0144%	1h	144.80	−0.048%	$977K	$2.3M	10x	as long as short
tradeXYZ xyz:SOXL	+0.0203%	1h	144.77	−0.069%	$26.3M	$22.0M	10x	as long as short
Lighter SOXLlong	+0.0208%	1h	144.87	long leg	$804K	$2.6M	20x
Polymarket Perps SOXL-USD	+0.0590%	1h	144.98	+0.076%	$5K	$265K	10x	as long as short
edgeX SOXLUSDC	+0.0791%	4h	144.54	−0.231%	$180K	$322K	10x	as long as short
Deribit SOXL_USDC-PERPETUAL	+0.0855%	1h	144.90	+0.021%	$118K	$297K	10x	as long as short