Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0137%/8hnext payment −$0.17 per $10,000 · paid last 24h −0.032%

Price spread now: Derive against Lighter+0.027%7-day average −0.044% · you sell dearer than you buy

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

Long on Lighter Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now +0.027%, 7d avg −0.044%

Together, before fees−0.069%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Derive is 0.071% dearer against Lighter than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.044%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOL	117.90	0.0096	pay 0.0012% / 1h	6m 27s	$13.3M	$50.1M	25x
Short	Derive SOL-PERP	117.93	−0.0041	pay 0.0005% / 1h	6m 27s	$1.9M	$3.0M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.027%Rate

Funding earned: −$28.68
Price spread: +0.027% → −0.044%: $7.07
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: −$27.62
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter: live order book, 7 min ago; Derive: no order-book sample. 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 Lighter live order book, 7 min ago	0.04 bp	0.4 bp $0	1.6 bp −$16	6.2 bp −$618	22.8 bp −$11.4K
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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
Injective SOL/USDC PERP	−0.0627%	1h	118.30	+0.343%	$4K	$41K	12x	as long as short
dYdX SOL-USD	−0.0127%	1h	117.94	+0.037%	$4.7M	$25.3M	20x	as long as short
Vest SOL-PERP	−0.0106%	1h	117.86	−0.029%	—	$731K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.95	+0.043%	$836	$8K	25x	as long as short
Derive SOL-PERPshort	−0.0041%	1h	117.93	+0.027%	$1.9M	$3.0M	13x
Aftermath Perps SOLUSD	−0.0009%	1h	118.06	+0.136%	$24K	$45K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	118.04	+0.124%	$56K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	118.07	+0.150%	$1.3M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.91	+0.012%	$166K	$4.0M	8.3x	as long as short
HTX SOL-USDT	+0.0037%	8h	117.93	+0.025%	$230.0M	$41.9M	75x	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	+0.0052%	8h	117.88	−0.015%	—	$363.5M	—	as long as short
Orderly PERP_SOL_USDC	+0.0052%	8h	118.02	+0.104%	$1.1M	$5.6M	100x	as long as short
KuCoin SOLUSDTM	+0.0053%	8h	117.87	−0.020%	$140.8M	$172.6M	75x	as long as short
Kraken Futures PF_SOLUSD	+0.0061%	1h	118.00	+0.086%	$34.1M	$84.4M	100x	as long as short
ApeX Omni SOLUSDT	+0.0064%	1h	118.04	+0.122%	$1.5M	$6.3M	50x	as long as short
Bitget SOLUSDT	+0.0065%	8h	117.88	−0.010%	$494.4M	$436.8M	100x	as long as short
Gate SOL_USDT	+0.0077%	8h	117.90	+0.003%	$856.0M	$666.8M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	117.95	+0.046%	$114K	$133K	20x	as long as short
OKX SOL-USDT-SWAP	+0.0086%	8h	117.88	−0.014%	$366.3M	$1.66B	100x	as long as short
Lighter SOLlong	+0.0096%	1h	117.90	long leg	$13.3M	$50.1M	25x
Lighter RH SOL	+0.0096%	1h	117.90	+0.003%	$2.0M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.95	+0.044%	$350K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0097%	8h	117.87	−0.025%	$1.0M	$437K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.98	+0.071%	$42K	$735K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.87	−0.019%	$5.5M	$39.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	118.00	+0.088%	$710.3M	$424.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.92	+0.020%	$178.0M	$169.5M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.94	+0.039%	$13.3M	$106.7M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.90	+0.003%	$965.3M	$3.64B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.90	+0.003%	$814.0M	$1.23B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.88	−0.014%	$233K	$854K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.93	+0.030%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.05	+0.131%	$131.0M	$16.2M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.87	−0.022%	$481.8M	$1.06B	300x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.97	+0.063%	$24.1M	$37.3M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.99	+0.083%	$28.0M	$118.5M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.05	+0.132%	$94.8M	$384.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.04	+0.124%	$48.3M	$32.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	118.00	+0.088%	$1.4M	$13.1M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.91	+0.012%	$358K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.89	−0.009%	$199K	$1.8M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.98	+0.073%	$37K	$14K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.98	+0.073%	$191K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.95	+0.046%	$6.2M	$10.9M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	118.00	+0.088%	$45.9M	$96.0M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.86	−0.027%	$8.6M	$37.1M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0104%	1h	118.00	+0.092%	$7.8M	$398.2M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0048%	1h	118.04	+0.121%	—	$206.8M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0123%	1h	118.04	+0.126%	$26.5M	$27.2M	50x	as long as short
Hibachi SOL/USDT-P	+0.0144%	1h	118.04	+0.125%	$121K	$562K	20x	as long as short
Phoenix SOL	+0.0149%	1h	118.13	+0.198%	$7.3M	$11.4M	25x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0172% / S −0.0075%	1h	118.04	+0.119%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0180%	1h	117.88	−0.015%	$1.1M	$534K	25x	as long as short
RISEx SOL/USDC	+0.0185%	1h	117.96	+0.053%	$1.6M	$6.5M	20x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.95	+0.046%	$51.7M	$90.2M	125x	as long as short