Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.001%

Price spread now: Variational Omni against Lighter RH+0.110%7-day average +0.009% · you sell dearer than you buy

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

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days−0.133%−$13 · spread now +0.110%, 7d avg +0.009%

Together, before fees−0.136%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Variational Omni is 0.101% dearer against Lighter RH than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	116.57	0.0056	pay 0.0007% / 1h	3m 17s	$2.2M	$17.0M	25x
Short	Variational Omni SOL	116.69	0.0100	get 0.0100% / 8h	1h 03m	$25.1M	$110.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter RH. 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 Lighter RHbpFee Variational OmnibpOrdersPrice spread, now +0.110%Rate

Funding earned: $9.24
Price spread: +0.110% → +0.009%: $10.12
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $19.36
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter RH: live order book, 6 min ago; Variational Omni: RFQ quote, 1 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 Lighter RH live order book, 6 min ago	1.41 bp	1.4 bp −$1	1.8 bp −$18	19.0 bp −$1,896	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	1.20 bp	doesn't fit	2.4 bp −$24	11.1 bp −$1,106	doesn't fit

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
Hibachi SOL/USDT-P	−0.0208%	1h	116.60	+0.026%	$97K	$678K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.54	−0.023%	$738.0M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.56	−0.001%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.61	+0.037%	$32.3M	$106.1M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.51	−0.050%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0047%	1h	116.55	−0.017%	—	$633K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.61	+0.034%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.63	+0.055%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.59	+0.024%	$106K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0016%	1h	116.64	+0.061%	$4.3M	$23.6M	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SOLUSDT	+0.0036%	8h	116.52	−0.039%	$480.4M	$459.2M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.61	+0.038%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.61	+0.039%	$8.0M	$402.4M	50x	as long as short
Lighter RH SOLlong	+0.0056%	1h	116.57	long leg	$2.2M	$17.0M	25x
SoDEX SOL-USD	+0.0070%	1h	116.56	−0.005%	$6.1M	$11.0M	20x	as long as short
Aster SOLUSDT	+0.0073%	8h	116.56	−0.005%	$176.5M	$169.4M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0082%	8h	116.56	−0.009%	$1.0M	$5.9M	100x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.56	−0.008%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.57	+0.003%	$13.1M	$61.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.55	−0.018%	$353K	$254K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.57	+0.003%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.57	+0.002%	$5.3M	$41.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.69	+0.106%	$701.4M	$408.5M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.62	+0.046%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.55	−0.012%	$966.0M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.55	−0.014%	$367.4M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.57	+0.003%	$217K	$825K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.59	+0.021%	$899K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.014%	$125.4M	$26.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.57	+0.003%	$849.5M	$676.6M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.56	−0.005%	$369.7M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.57	+0.003%	$133.0M	$233.0M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.53	−0.028%	—	$372.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.56	−0.005%	$23.0M	$36.9M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	116.69	+0.110%	$25.1M	$110.9M	—
edgeX SOLUSDC	+0.0100%	4h	116.63	+0.058%	$93.6M	$408.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.62	+0.049%	$47.7M	$29.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.66	+0.079%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.63	+0.055%	$1.3M	$11.8M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.55	−0.014%	$312K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.55	−0.010%	$241K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.58	+0.009%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.57	+0.003%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.57	+0.003%	$225.7M	$50.4M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.57	+0.003%	$45.4M	$104.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.52	−0.042%	$8.0M	$38.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.60	+0.030%	—	$233.7M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0133%	1h	116.64	+0.065%	$26.4M	$21.7M	50x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.62	+0.046%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.73	+0.141%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.52	−0.038%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.53	−0.031%	$52.1M	$66.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.56	−0.004%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.65	+0.072%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0488%	1h	116.65	+0.074%	$25K	$57K	20x	as long as short