Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h +0.018%

Price spread now: Lighter against Bybit+0.027%7-day average +0.002% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$140.137% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.027%, 7d avg +0.002%

Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.025% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SOLUSDT	117.17	−0.0044	get 0.0044% / 8h	6h 18m	$734.5M	$1.26B	100x
Short	Lighter SOL	117.20	0.0096	get 0.0012% / 1h	18m 12s	$13.2M	$55.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.027%Rate

Funding earned: $29.46
Price spread: +0.027% → +0.002%: $2.49
Slippage, 4 orders: −$2.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.21
Costs to cover: 0.137%
Break-even: 2.7 days

Slippage from Bybit: live order book, 4 min ago; Lighter: live order book, 4 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 Bybit live order book, 4 min ago	0.43 bp	5.9 bp −$6	6.3 bp −$63	9.8 bp −$976	20.6 bp −$10.3K
Sell Lighter live order book, 4 min ago	0.04 bp	0.1 bp $0	1.7 bp −$17	6.2 bp −$616	21.5 bp −$10.8K

SOL on 54 exchanges

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
Bluefin SOL-PERP	−0.0753%	1h	117.20	+0.025%	$27K	$35K	25x	as long as short
Hibachi SOL/USDT-P	−0.0184%	1h	117.05	−0.105%	$99K	$649K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.07	−0.086%	$1K	$8K	25x	as long as short
Bybit SOLUSDTlong	−0.0044%	8h	117.17	long leg	$734.5M	$1.26B	100x
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.05	−0.107%	$39K	—	150x	as long as short
Perpl SOL	0.0000%	43m	117.19	+0.013%	$99K	$2.9M	8.3x	as long as short
Vest SOL-PERP	+0.0001%	1h	117.17	−0.003%	—	$284K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0016%	1h	117.28	+0.096%	$26.4M	$18.7M	50x	as long as short
Bitget SOLUSDT	+0.0027%	8h	117.24	+0.057%	$483.4M	$408.5M	100x	as long as short
Injective SOL/USDC PERP	+0.0033%	1h	116.85	−0.275%	$4K	$122	12x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.24	+0.061%	$8.4M	$375.2M	50x	as long as short
Aster SOLUSDT	+0.0044%	8h	117.22	+0.041%	$177.8M	$158.2M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0056%	8h	117.20	+0.027%	$1.0M	$5.2M	100x	as long as short
SoDEX SOL-USD	+0.0069%	1h	117.21	+0.032%	$6.2M	$11.1M	20x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	117.20	+0.024%	$101K	$181K	20x	as long as short
Gate SOL_USDT	+0.0077%	8h	117.22	+0.041%	$851.6M	$600.0M	100x	as long as short
MEXC SOL_USDT	+0.0092%	8h	117.21	+0.032%	$431.1M	$993.5M	300x	as long as short
Binance SOLUSDT	+0.0093%	8h	117.19	+0.018%	$967.8M	$3.49B	100x	as long as short
ApeX Omni SOLUSDT	+0.0095%	1h	117.18	+0.007%	$1.1M	$6.7M	50x	as long as short
Lighter SOLshort	+0.0096%	1h	117.20	+0.027%	$13.2M	$55.4M	25x
Lighter RH SOL	+0.0096%	1h	117.19	+0.019%	$2.3M	$13.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.22	+0.043%	$349K	$257K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	117.10	−0.060%	$1.0M	$557K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.15	−0.019%	$45K	$864K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.16	−0.014%	$5.6M	$39.4M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.13	−0.035%	$15.9M	$116.6M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.19	+0.015%	$361.0M	$1.58B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.18	+0.007%	$222K	$775K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.20	+0.022%	$901K	$7.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.25	+0.069%	$127.0M	$16.9M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.20	+0.021%	$134.1M	$229.5M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.21	+0.032%	—	$339.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.06	−0.096%	$23.2M	$35.4M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.07	−0.086%	$25.1M	$100.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.16	−0.009%	$94.1M	$383.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.14	−0.024%	$47.9M	$25.4M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.14	−0.027%	$1.3M	$10.3M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.20	+0.024%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.22	+0.045%	$285K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.20	+0.020%	$191K	$1.5M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.10	−0.064%	$226.5M	$41.6M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.19	+0.015%	$45.5M	$101.4M	50x	as long as short
Kalshi KXSOLPERP	+0.0101%	8h	117.17	−0.004%	$1.3M	$16.3M	3.1x	as long as short
Extended SOL-USD	+0.0104%	1h	117.18	+0.004%	$8.5M	$33.4M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.10	−0.061%	—	$212.9M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.26	+0.075%	$6.6M	$12.8M	25x	as long as short
dYdX SOL-USD	+0.0130%	1h	117.18	+0.007%	$9.3M	$18.1M	20x	as long as short
Hyperliquid SOL	+0.0163%	1h	117.35	+0.152%	$719.4M	$375.0M	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0185%	1h	117.25	+0.069%	$32.6M	$93.6M	100x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.18	+0.009%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0213%	8h	117.04	−0.113%	$51.6M	$57.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0170%	1h	117.06	−0.096%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0273%	1h	117.22	+0.040%	$2.2M	$4.5M	20x	as long as short
Aftermath Perps SOLUSD	+0.0403%	1h	117.18	+0.005%	$25K	$54K	20x	as long as short