Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h −0.007%

Price spread now: Orderly against Lighter+0.030%7-day average −0.007% · you sell dearer than you buy

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)−0.166%−$17 · spread now +0.030%, 7d avg −0.007%

Together, before fees−0.197%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.037% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOL	116.68	0.0096	pay 0.0012% / 1h	28m 40s	$13.1M	$60.2M	25x
Short	Orderly PERP_SOL_USDC	116.72	0.0093	get 0.0093% / 8h	3h 28m	$1.0M	$5.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.030%Rate

Funding earned: −$0.58
Price spread: +0.030% → −0.007%: $3.71
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.87
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 10 min ago; Orderly: 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, 10 min ago	0.04 bp	0.0 bp $0	0.3 bp −$3	4.6 bp −$460	17.7 bp −$8,851
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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
Kraken Futures PF_SOLUSD	−0.0193%	1h	116.71	+0.024%	$31.0M	$101.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	116.82	+0.116%	$103K	$699K	20x	as long as short
Vest SOL-PERP	−0.0091%	1h	116.70	+0.011%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.93	+0.207%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.74	+0.045%	$42K	—	150x	as long as short
Bybit SOLUSDT	+0.0006%	8h	116.54	−0.123%	$758.2M	$1.38B	100x	as long as short
dYdX SOL-USD	+0.0011%	1h	116.69	+0.003%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0032%	1h	116.65	−0.033%	$1.9M	$2.9M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.72	+0.033%	$7.6M	$405.2M	50x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	116.75	+0.057%	$99K	$174K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_SOL_USDCshort	+0.0093%	8h	116.72	+0.030%	$1.0M	$5.9M	100x
Lighter SOLlong	+0.0096%	1h	116.68	long leg	$13.1M	$60.2M	25x
Lighter RH SOL	+0.0096%	1h	116.68	−0.003%	$2.2M	$16.8M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.71	+0.024%	$350K	$246K	20x	as long as short
Bullet SOL-USD	+0.0098%	1h	116.71	+0.026%	$147K	$1.6M	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.63	−0.046%	$61K	$895K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.66	−0.022%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.74	+0.049%	$5.5M	$40.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.80	+0.099%	$705.1M	$394.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.66	−0.019%	$174.8M	$183.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.72	+0.028%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.68	−0.007%	$973.9M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.64	−0.038%	$366.8M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.69	+0.005%	$229K	$842K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.71	+0.021%	$921K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.75	+0.057%	$133.5M	$19.9M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.67	−0.012%	$852.6M	$663.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	+0.005%	$367.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.66	−0.019%	$129.2M	$223.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.65	−0.031%	$481.4M	$444.5M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.62	−0.055%	—	$365.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.67	−0.012%	$23.0M	$39.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.79	+0.095%	$24.6M	$113.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.77	+0.073%	$93.7M	$400.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.90	+0.185%	$47.8M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.87	+0.159%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.80	+0.099%	$1.3M	$12.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.71	+0.022%	$321K	$2.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.71	+0.023%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.70	+0.015%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.72	+0.031%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.68	−0.006%	$226.1M	$48.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.74	+0.048%	$45.7M	$103.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.59	−0.076%	$8.3M	$37.6M	50x	as long as short
Kalshi KXSOLPERP	+0.0105%	8h	116.75	+0.058%	$1.5M	$19.0M	3.1x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.99	+0.262%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.78	+0.078%	—	$231.6M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.89	+0.177%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0162%	1h	116.76	+0.069%	$26.3M	$23.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.69	+0.009%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.71	+0.022%	$52.0M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.73	+0.035%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.80	+0.102%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0541%	1h	116.86	+0.154%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.73	+0.042%	$1.9M	$4.8M	20x	as long as short