Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Lighter−0.049%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$440.437% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.049%, 7d avg −0.030%

Together, before fees+0.047%+ 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	116.14	0.0096	pay 0.0012% / 1h	20m 02s	$13.1M	$60.9M	25x
Short	SunX SOL-USDT	116.08	0.0100	get 0.0100% / 8h	20m 02s	$189K	$1.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0.84
Price spread: −0.049% → −0.030%: −$1.91
Slippage, 4 orders: −$35.65
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$44.72
Costs to cover: 0.437%
Break-even: 379.7 days

Slippage from Lighter: live order book, 14 min ago; SunX: live order book, 6 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, 14 min ago	0.47 bp	0.8 bp −$1	1.3 bp −$13	5.6 bp −$558	20.1 bp −$10.0K
Sell SunX live order book, 6 min ago	3.37 bp	19.7 bp −$20	50.0 bp −$500	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	−0.0153%	1h	116.17	+0.027%	$32.4M	$107.0M	100x	as long as short
Bybit SOLUSDT	−0.0103%	8h	116.15	+0.011%	$733.3M	$1.43B	100x	as long as short
Hibachi SOL/USDT-P	−0.0096%	1h	116.06	−0.070%	$100K	$675K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.20	+0.051%	$1K	$8K	25x	as long as short
Derive SOL-PERP	−0.0075%	1h	116.00	−0.119%	$1.8M	$3.0M	13x	as long as short
Injective SOL/USDC PERP	−0.0055%	1h	116.36	+0.192%	$4K	$2K	12x	as long as short
Vest SOL-PERP	−0.0046%	1h	116.04	−0.082%	—	$756K	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.17	+0.028%	$42K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.13	−0.003%	$1.4M	$19.3M	3.1x	as long as short
Perpl SOL	0.0000%	43m	116.08	−0.050%	$99K	$3.5M	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	+0.0005%	1h	116.04	−0.086%	$4.3M	$23.5M	20x	as long as short
Bitget SOLUSDT	+0.0022%	8h	116.16	+0.023%	$479.3M	$456.3M	100x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0030%	1h	116.18	+0.040%	$26.3M	$21.6M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.15	+0.011%	$7.8M	$398.9M	50x	as long as short
Aster SOLUSDT	+0.0049%	8h	116.14	+0.003%	$177.1M	$168.8M	100x	as long as short
01 Exchange SOLUSD	+0.0064%	1h	116.13	−0.006%	$100K	$181K	20x	as long as short
SoDEX SOL-USD	+0.0065%	1h	116.13	−0.006%	$6.1M	$11.0M	20x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	116.12	−0.013%	$1.0M	$5.9M	100x	as long as short
Lighter RH SOL	+0.0080%	1h	116.14	+0.007%	$2.2M	$16.8M	25x	as long as short
Paradex SOL-USD-PERP	+0.0094%	8h	116.05	−0.072%	$1.0M	$554K	50x	as long as short
Lighter SOLlong	+0.0096%	1h	116.14	long leg	$13.1M	$60.9M	25x
Aevo SOL-PERP	+0.0096%	1h	116.12	−0.014%	$350K	$257K	20x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	116.04	−0.084%	$64K	$912K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.03	−0.092%	$5.4M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.23	+0.080%	$695.9M	$408.2M	20x	as long as short
Pacifica SOL	+0.0100%	1h	116.04	−0.083%	$15.6M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.16	+0.020%	$960.3M	$3.87B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.17	+0.028%	$365.8M	$1.77B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	115.98	−0.135%	$224K	$842K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.08	−0.053%	$922K	$8.5M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.11	−0.023%	$842.3M	$668.0M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.15	+0.011%	$370.8M	$1.07B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.13	−0.007%	$129.2M	$236.2M	75x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.15	+0.010%	—	$374.2M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.15	+0.011%	$22.8M	$35.6M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	115.97	−0.140%	$24.8M	$107.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	115.98	−0.138%	$93.1M	$406.0M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.07	−0.058%	$47.5M	$28.9M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.07	−0.058%	$1.2M	$6.8M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.07	−0.058%	$1.3M	$11.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.07	−0.058%	$314K	$2.8M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.08	−0.050%	$284K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.10	−0.031%	$26K	$36K	25x	as long as short
SunX SOL-USDTshort	+0.0100%	8h	116.08	−0.049%	$189K	$1.7M	30x
HTX SOL-USDT	+0.0100%	8h	115.97	−0.140%	$224.6M	$50.7M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.12	−0.015%	$45.1M	$104.3M	50x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.35	+0.183%	$125.8M	$26.4M	20x	as long as short
Extended SOL-USD	+0.0104%	1h	116.12	−0.010%	$8.2M	$37.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.08	−0.047%	—	$236.1M	500x	as long as short
Phoenix SOL	+0.0130%	1h	116.17	+0.028%	$6.5M	$13.6M	25x	as long as short
Reya SOLRUSDPERP	+0.0196%	1h	116.05	−0.077%	$1.1M	$545K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.03	−0.092%	$52.1M	$65.3M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0231% / S −0.0169%	1h	116.15	+0.011%	$3.5M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0461%	1h	116.14	+0.002%	$25K	$57K	20x	as long as short
RISEx SOL/USDC	+0.0485%	1h	116.13	−0.005%	$2.1M	$4.8M	20x	as long as short