Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: Paradex against Lighter+0.018%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$100.097% of the position

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%$0 on $10k

Price spread, last 7 days+0.251%+$25 · spread now +0.018%, 7d avg −0.022%

Together, before fees+0.246%+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm board+$25 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: Paradex is 0.040% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SOL	115.67	0.0096	pay 0.0012% / 1h	28m 25s	$13.0M	$60.9M	25x
Short	Paradex SOL-USD-PERP	115.69	0.0099	get 0.0099% / 8h	2h 28m	$1.0M	$550K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.018%Rate

Funding earned: $0.72
Price spread: +0.018% → −0.022%: $3.99
Slippage, 4 orders: −$5.74
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$5.03
Costs to cover: 0.097%
Break-even: 55.9 days

Slippage from Lighter: live order book, 6 min ago; Paradex: live order book, 1 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 Lighter live order book, 6 min ago	0.39 bp	1.4 bp −$1	2.3 bp −$23	7.3 bp −$734	24.2 bp −$12.1K
Sell Paradex live order book, 1 min ago	1.77 bp	3.8 bp −$4	9.3 bp −$93	doesn't fit	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
Kraken Futures PF_SOLUSD	−0.0241%	1h	115.77	+0.094%	$31.7M	$103.6M	100x	as long as short
Hibachi SOL/USDT-P	−0.0184%	1h	115.87	+0.178%	$104K	$693K	20x	as long as short
BingX SOL-USDC	−0.0116%	8h	115.64	−0.017%	—	$10.6M	—	as long as short
Bybit SOLUSDT	−0.0115%	8h	115.60	−0.056%	$739.3M	$1.42B	100x	as long as short
Vest SOL-PERP	−0.0088%	1h	115.65	−0.014%	—	$625K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.18	+0.448%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0073%	1h	115.73	+0.058%	$1.9M	$2.9M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	115.85	+0.162%	$41K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	115.81	+0.130%	$1.5M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	115.67	+0.003%	$113K	$3.7M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX SOL-USD	+0.0012%	1h	115.72	+0.049%	$4.3M	$24.0M	20x	as long as short
01 Exchange SOLUSD	+0.0016%	1h	115.65	−0.013%	$98K	$177K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	115.77	+0.087%	$7.8M	$403.1M	50x	as long as short
Bitget SOLUSDT	+0.0067%	8h	115.59	−0.065%	$478.4M	$455.8M	100x	as long as short
Bullet SOL-USD	+0.0089%	1h	115.60	−0.054%	$147K	$1.6M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0096%	8h	115.83	+0.141%	$1.0M	$5.9M	100x	as long as short
Lighter SOLlong	+0.0096%	1h	115.67	long leg	$13.0M	$60.9M	25x
Lighter RH SOL	+0.0096%	1h	115.66	−0.008%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	115.83	+0.141%	$348K	$247K	20x	as long as short
Aster SOLUSDT	+0.0099%	8h	115.63	−0.029%	$173.4M	$184.9M	100x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	115.61	−0.048%	$62K	$911K	20x	as long as short
Paradex SOL-USD-PERPshort	+0.0099%	8h	115.69	+0.018%	$1.0M	$550K	50x
Nado SOL-PERP	+0.0100%	1h	115.65	−0.014%	$5.2M	$40.7M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	115.70	+0.027%	$684.9M	$400.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	115.71	+0.041%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	115.64	−0.023%	$961.5M	$3.88B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	115.62	−0.039%	$360.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.64	−0.022%	$215K	$869K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	115.68	+0.013%	$913K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	115.84	+0.152%	$125.6M	$19.8M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	115.66	−0.004%	$838.8M	$667.8M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	115.63	−0.030%	$356.7M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	115.70	+0.027%	$124.4M	$229.3M	75x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	115.74	+0.065%	$22.8M	$40.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.67	+0.002%	$24.7M	$114.3M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.77	+0.095%	$92.9M	$406.6M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	115.76	+0.082%	$47.4M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	115.81	+0.126%	$1.1M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	115.83	+0.143%	$1.3M	$12.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	115.60	−0.056%	$317K	$2.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	115.82	+0.135%	$25K	$33K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	115.80	+0.113%	$188K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	115.76	+0.082%	$6.0M	$10.9M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	115.80	+0.112%	$224.3M	$50.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	115.77	+0.091%	$45.1M	$104.6M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	115.62	−0.038%	$7.9M	$38.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	115.84	+0.148%	—	$239.7M	500x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0127%	1h	115.87	+0.181%	$26.2M	$22.0M	50x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	116.55	+0.765%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0179%	1h	115.87	+0.177%	$6.5M	$13.7M	25x	as long as short
Reya SOLRUSDPERP	+0.0193%	1h	115.59	−0.068%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	115.73	+0.056%	$51.5M	$67.7M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0173%	1h	115.85	+0.161%	$3.5M	—	200x	as long as short
RISEx SOL/USDC	+0.0547%	1h	115.71	+0.041%	$1.9M	$4.9M	20x	as long as short
Aftermath Perps SOLUSD	+0.0598%	1h	115.86	+0.172%	$25K	$53K	20x	as long as short