Funding arb · Price arb /

SOL

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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: Lighter RH against Variational Omni−0.082%7-day average −0.009% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter RH

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+0.105%+$10 · spread now −0.082%, 7d avg −0.009%

Together, before fees+0.108%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter RH is 0.073% cheaper against Variational Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SOL	116.69	0.0100	pay 0.0100% / 8h	1h 04m	$25.1M	$110.9M	—
Short	Lighter RH SOL	116.60	0.0056	get 0.0007% / 1h	4m 40s	$2.2M	$17.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Variational Omni. 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 Variational OmnibpFee Lighter RHbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$9.24
Price spread: −0.082% → −0.009%: −$7.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$16.52
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Lighter RH: live order book, 4 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 Variational Omni RFQ quote, 5 min ago	1.20 bp	doesn't fit	1.9 bp −$19	8.3 bp −$832	doesn't fit
Sell Lighter RH live order book, 4 min ago	1.41 bp	1.4 bp −$1	2.1 bp −$21	21.3 bp −$2,126	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	116.77	+0.064%	$97K	$678K	20x	as long as short
Bybit SOLUSDT	−0.0113%	8h	116.59	−0.085%	$738.6M	$1.43B	100x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.75	+0.051%	$1K	$8K	25x	as long as short
Kraken Futures PF_SOLUSD	−0.0072%	1h	116.66	−0.029%	$32.3M	$106.2M	100x	as long as short
Derive SOL-PERP	−0.0068%	1h	116.70	+0.001%	$1.9M	$3.0M	13x	as long as short
Vest SOL-PERP	−0.0046%	1h	116.64	−0.046%	—	$634K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.66	−0.030%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.73	+0.029%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.68	−0.011%	$106K	$3.5M	8.3x	as long as short
dYdX SOL-USD	+0.0016%	1h	116.70	+0.002%	$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	+0.0037%	8h	116.60	−0.080%	$480.8M	$459.2M	100x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	116.62	−0.064%	$99K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.66	−0.027%	$8.0M	$402.7M	50x	as long as short
Lighter RH SOLshort	+0.0056%	1h	116.60	−0.082%	$2.2M	$17.0M	25x
Aster SOLUSDT	+0.0074%	8h	116.61	−0.072%	$176.5M	$169.5M	100x	as long as short
SoDEX SOL-USD	+0.0075%	1h	116.63	−0.055%	$6.1M	$11.0M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	116.63	−0.055%	$1.0M	$5.9M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0085%	1h	116.71	+0.010%	$26.4M	$21.7M	50x	as long as short
Paradex SOL-USD-PERP	+0.0093%	8h	116.62	−0.065%	$1.0M	$554K	50x	as long as short
Lighter SOL	+0.0096%	1h	116.62	−0.062%	$13.2M	$61.2M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.62	−0.066%	$351K	$252K	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.57	−0.107%	$66K	$910K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.63	−0.055%	$5.6M	$41.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.74	+0.036%	$701.6M	$408.4M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.67	−0.023%	$15.7M	$130.6M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.61	−0.072%	$966.4M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.61	−0.072%	$367.6M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.64	−0.047%	$217K	$837K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.61	−0.077%	$899K	$8.7M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.55	−0.124%	$125.4M	$26.0M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.61	−0.072%	$849.8M	$676.4M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.61	−0.072%	$370.5M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.61	−0.071%	$133.0M	$233.1M	75x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.58	−0.100%	—	$10.7M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.64	−0.047%	$23.1M	$36.9M	50x	as long as short
Variational Omni SOLlong	+0.0100%	8h	116.69	long leg	$25.1M	$110.9M	—
edgeX SOLUSDC	+0.0100%	4h	116.57	−0.109%	$93.6M	$408.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.63	−0.056%	$47.7M	$29.7M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.65	−0.038%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.66	−0.030%	$1.3M	$11.9M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.64	−0.047%	$313K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.65	−0.035%	$242K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.65	−0.040%	$27K	$36K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.64	−0.046%	$189K	$1.8M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.62	−0.066%	$225.8M	$50.5M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.64	−0.047%	$45.4M	$104.9M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.54	−0.136%	$8.0M	$38.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.67	−0.019%	—	$233.7M	500x	as long as short
Injective SOL/USDC PERP	+0.0176%	1h	116.62	−0.064%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0178%	1h	116.73	+0.030%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0195%	1h	116.61	−0.071%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.63	−0.055%	$52.1M	$66.6M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.66	−0.031%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0451%	1h	116.65	−0.035%	$2.1M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0488%	1h	116.72	+0.019%	$25K	$57K	20x	as long as short