Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: Lighter RH against Phemex+0.004%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$170.165% of the position

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+0.568%+$57 · spread now +0.004%, 7d avg −0.001%

Together, before fees+0.618%+ Points / potential airdropLighter RH: Points live · farm board+$62 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SOLUSDT	117.55	0.0100	pay 0.0100% / 8h	5h 28m	$45.8M	$100.1M	50x
Short	Lighter RH SOL	117.56	0.0096	get 0.0012% / 1h	28m 58s	$2.1M	$16.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Phemex. 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 PhemexbpFee Lighter RHbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$0.84
Price spread: +0.004% → −0.001%: $0.5
Slippage, 4 orders: −$4.53
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$16.87
Costs to cover: 0.165%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Lighter RH: live order book, 5 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 Phemex live order book, 5 min ago	0.43 bp	7.1 bp −$7	11.1 bp −$111	17.9 bp −$1,791	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.15 bp	1.4 bp −$1	1.9 bp −$19	20.6 bp −$2,062	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
Bluefin SOL-PERP	−0.0148%	1h	116.41	−0.966%	$25K	$28K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.66	+0.094%	$920	$8K	25x	as long as short
Vest SOL-PERP	−0.0064%	1h	117.59	+0.038%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.57	+0.016%	$31.7M	$98.4M	100x	as long as short
Derive SOL-PERP	−0.0010%	1h	117.51	−0.030%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.61	+0.051%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.63	+0.064%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.64	+0.080%	$1.4M	$19.3M	3.1x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0001%	1h	117.60	+0.044%	$26.4M	$25.0M	50x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.64	+0.077%	$100K	$164K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hibachi SOL/USDT-P	+0.0064%	1h	117.69	+0.117%	$105K	$695K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.56	+0.011%	$8.0M	$404.2M	50x	as long as short
BingX SOL-USDT	+0.0070%	8h	117.58	+0.022%	—	$363.5M	—	as long as short
Orderly PERP_SOL_USDC	+0.0089%	8h	117.60	+0.041%	$1.0M	$5.8M	100x	as long as short
HTX SOL-USDT	+0.0090%	8h	117.58	+0.029%	$228.4M	$45.5M	75x	as long as short
Lighter SOL	+0.0096%	1h	117.57	+0.016%	$13.1M	$59.6M	25x	as long as short
Lighter RH SOLshort	+0.0096%	1h	117.56	+0.004%	$2.1M	$16.3M	25x
Aevo SOL-PERP	+0.0096%	1h	117.57	+0.017%	$345K	$226K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.61	+0.051%	$65K	$839K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.70	+0.128%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.62	+0.064%	$5.8M	$39.0M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.57	+0.019%	$176.5M	$179.3M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.66	+0.092%	$14.5M	$128.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.56	+0.007%	$967.6M	$3.72B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.56	+0.013%	$824.8M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.55	0.000%	$366.5M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.55	0.000%	$238K	$853K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.65	+0.086%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.44	−0.092%	$135.1M	$16.1M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	117.55	0.000%	$858.3M	$650.2M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.54	−0.009%	$424.1M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.55	+0.003%	$129.7M	$212.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.56	+0.011%	$487.1M	$432.6M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.55	0.000%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.72	+0.145%	$24.4M	$115.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.51	−0.036%	$94.4M	$399.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.78	+0.197%	$48.3M	$28.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.76	+0.179%	$1.5M	$5.9M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.67	+0.102%	$1.3M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.65	+0.085%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.61	+0.055%	$200K	$1.6M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.64	+0.077%	$191K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.57	+0.017%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	117.55	long leg	$45.8M	$100.1M	50x
Extended SOL-USD	+0.0104%	1h	117.52	−0.028%	$8.2M	$36.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.61	+0.053%	—	$218.9M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.65	+0.085%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.71	+0.135%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0172%	1h	117.68	+0.111%	$719.7M	$393.2M	20x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	117.62	+0.063%	$1.1M	$527K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.38	−0.145%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	117.54	−0.009%	$51.6M	$71.4M	125x	as long as short
Perpl SOL	+0.0223%	43m	117.63	+0.068%	$127K	$3.8M	8.3x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.61	+0.049%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0393%	1h	117.60	+0.042%	$25K	$51K	20x	as long as short