Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Katana Perps against Lighter−0.028%7-day average −0.047% · you buy dearer than you sell

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

Long on Lighter Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days−0.059%−$6 · spread now −0.028%, 7d avg −0.047%

Together, before fees−0.053%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOL	117.25	0.0096	pay 0.0012% / 1h	53m 50s	$13.2M	$54.4M	25x
Short	Katana Perps SOL-USD	117.22	0.0100	get 0.0100% / 8h	5h 53m	$45K	$879K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0.8
Price spread: −0.028% → −0.047%: $1.86
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$1.15
Costs to cover: 0.038%
Break-even: 17.1 days

Slippage unknown: Lighter: live order book, 8 min ago; Katana Perps: 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, 8 min ago	0.30 bp	0.5 bp −$1	1.1 bp −$11	7.2 bp −$724	22.3 bp −$11.2K
Sell Katana Perps no order-book sample	—	—	—	—	—

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 exchanges

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	−0.0264%	1h	117.31	+0.051%	$99K	$647K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.44	+0.155%	$1K	$8K	25x	as long as short
Bybit SOLUSDT	−0.0051%	8h	117.26	+0.007%	$734.4M	$1.24B	100x	as long as short
SoDEX SOL-USD	−0.0029%	1h	117.23	−0.020%	$6.1M	$11.1M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.20	−0.045%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.27	+0.011%	$1.3M	$15.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	117.22	−0.030%	$98K	$2.8M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	0.0000%	1h	117.29	+0.033%	$26.4M	$18.3M	50x	as long as short
Vest SOL-PERP	+0.0007%	1h	117.20	−0.043%	—	$272K	20x	as long as short
Bitget SOLUSDT	+0.0029%	8h	117.30	+0.036%	$482.8M	$397.3M	100x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0040%	1h	117.25	0.000%	$8.4M	$369.0M	50x	as long as short
Aster SOLUSDT	+0.0043%	8h	117.27	+0.014%	$177.9M	$155.2M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0050%	8h	117.19	−0.057%	$995K	$5.1M	100x	as long as short
01 Exchange SOLUSD	+0.0056%	1h	117.22	−0.028%	$101K	$181K	20x	as long as short
dYdX SOL-USD	+0.0074%	1h	117.20	−0.041%	$9.3M	$17.9M	20x	as long as short
MEXC SOL_USDT	+0.0080%	8h	117.28	+0.023%	$430.9M	$911.3M	300x	as long as short
Aevo SOL-PERP	+0.0080%	1h	117.15	−0.090%	$348K	$258K	20x	as long as short
Binance SOLUSDT	+0.0081%	8h	117.27	+0.012%	$971.6M	$3.43B	100x	as long as short
Kraken Futures PF_SOLUSD	+0.0083%	1h	117.27	+0.016%	$33.7M	$93.1M	100x	as long as short
Gate SOL_USDT	+0.0092%	8h	117.28	+0.023%	$842.8M	$585.0M	100x	as long as short
Lighter SOLlong	+0.0096%	1h	117.25	long leg	$13.2M	$54.4M	25x
Lighter RH SOL	+0.0096%	1h	117.23	−0.017%	$2.3M	$13.5M	25x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.24	−0.012%	$1.0M	$551K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	117.22	−0.028%	$45K	$879K	20x
Nado SOL-PERP	+0.0100%	1h	117.20	−0.041%	$5.7M	$39.0M	40x	as long as short
Pacifica SOL	+0.0100%	1h	117.27	+0.014%	$15.9M	$116.2M	20x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.23	−0.020%	$361.7M	$1.55B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.20	−0.045%	$223K	$759K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.28	+0.020%	$1.2M	$8.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.35	+0.081%	$127.4M	$14.3M	20x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.29	+0.033%	$134.5M	$225.9M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	117.28	+0.026%	—	$334.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.25	−0.003%	$23.2M	$35.2M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.28	+0.019%	$25.1M	$99.9M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.28	+0.020%	$94.2M	$374.1M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.33	+0.065%	$48.0M	$25.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	117.37	+0.098%	$1.1M	$6.5M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	117.28	+0.023%	$1.3M	$10.2M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.21	−0.037%	$323K	$2.7M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.21	−0.034%	$284K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.21	−0.039%	$27K	$35K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.21	−0.041%	$190K	$1.4M	30x	as long as short
HTX SOL-USDT	+0.0100%	8h	117.23	−0.022%	$226.8M	$40.9M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	117.25	−0.003%	$45.5M	$99.5M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	117.25	−0.001%	$8.5M	$33.1M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.21	−0.034%	—	$210.5M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.41	+0.134%	$6.6M	$12.2M	25x	as long as short
Reya SOLRUSDPERP	+0.0199%	1h	117.18	−0.066%	$1.1M	$93K	25x	as long as short
BloFin SOL-USDT	+0.0202%	8h	117.23	−0.020%	$51.6M	$57.1M	125x	as long as short
Injective SOL/USDC PERP	+0.0206%	1h	116.85	−0.344%	$4K	$117	12x	as long as short
Hyperliquid SOL	+0.0227%	1h	117.38	+0.108%	$723.9M	$364.7M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0171%	1h	117.24	−0.008%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0250%	1h	117.25	−0.001%	$2.2M	$4.4M	20x	as long as short
Aftermath Perps SOLUSD	+0.0384%	1h	117.32	+0.056%	$25K	$51K	20x	as long as short