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 against Katana Perps+0.045%7-day average +0.046% · you sell dearer than you buy

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

Long on Katana Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.045%, 7d avg +0.046%

Together, before fees−0.018%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps SOL-USD	117.31	0.0100	pay 0.0100% / 8h	5h 54m	$67K	$831K	20x
Short	Lighter SOL	117.36	0.0096	get 0.0012% / 1h	54m 35s	$13.0M	$58.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Katana Perps. 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 Katana PerpsbpFee LighterbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$0.8
Price spread: +0.045% → +0.046%: −$0.05
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.65
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Lighter: live order book, 9 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Lighter live order book, 9 min ago	0.43 bp	0.4 bp $0	1.3 bp −$13	4.9 bp −$494	19.1 bp −$9,540

Katana Perps: 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 54 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
ApeX Omni SOLUSDT	−0.0279%	1h	117.27	−0.034%	$1.5M	$5.9M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.39	+0.065%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0057%	1h	117.32	+0.007%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.41	+0.083%	$31.5M	$98.0M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.37	+0.051%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.40	+0.078%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.47	+0.135%	$1.4M	$19.6M	3.1x	as long as short
Derive SOL-PERP	+0.0009%	1h	117.29	−0.020%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0033%	8h	117.29	−0.015%	$227.9M	$45.5M	75x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.36	+0.043%	$100K	$162K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.44	+0.114%	$8.0M	$402.3M	50x	as long as short
Hibachi SOL/USDT-P	+0.0072%	1h	117.64	+0.284%	$100K	$690K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.33	+0.013%	—	$10.6M	—	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0083%	1h	117.44	+0.109%	$26.3M	$25.2M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.38	+0.060%	$1.0M	$5.8M	100x	as long as short
Lighter SOLshort	+0.0096%	1h	117.36	+0.045%	$13.0M	$58.9M	25x
Lighter RH SOL	+0.0096%	1h	117.35	+0.036%	$2.1M	$16.2M	25x	as long as short
Gate SOL_USDT	+0.0096%	8h	117.35	+0.034%	$848.9M	$641.8M	100x	as long as short
Aevo SOL-PERP	+0.0096%	1h	117.38	+0.062%	$344K	$225K	20x	as long as short
Katana Perps SOL-USDlong	+0.0100%	8h	117.31	long leg	$67K	$831K	20x
Paradex SOL-USD-PERP	+0.0100%	8h	117.39	+0.071%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.41	+0.085%	$5.8M	$39.8M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.35	+0.037%	$176.1M	$177.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.38	+0.063%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.34	+0.028%	$967.4M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.37	+0.048%	$819.9M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.35	+0.034%	$365.8M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	+0.256%	$237K	$850K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.37	+0.049%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.40	+0.077%	$134.9M	$15.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.35	+0.034%	$424.6M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.37	+0.051%	$130.4M	$211.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.33	+0.014%	$486.4M	$433.0M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.43	+0.102%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.64	+0.278%	$24.3M	$119.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.29	−0.013%	$94.2M	$399.5M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.42	+0.093%	$48.1M	$28.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.59	+0.239%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.34	+0.026%	$352K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.38	+0.056%	$200K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.36	+0.044%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.35	+0.033%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.39	+0.068%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.42	+0.094%	$45.7M	$100.4M	50x	as long as short
Phoenix SOL	+0.0101%	1h	117.35	+0.034%	$6.5M	$13.4M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	117.33	+0.019%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.56	+0.214%	—	$220.7M	500x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.41	+0.081%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0166%	1h	117.49	+0.153%	$717.0M	$391.9M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.33	+0.018%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	+0.119%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.37	+0.051%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0365%	1h	117.48	+0.141%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.44	+0.110%	$128K	$3.8M	8.3x	as long as short