Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Variational Omni against Lighter−0.057%7-day average +0.007% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.057%, 7d avg +0.007%

Together, before fees+0.043%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$4 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: Variational Omni is 0.063% cheaper against Lighter than usual: you would sell low and buy high, −$6 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	119.25	0.0096	pay 0.0012% / 1h	10m 23s	$13.7M	$57.1M	25x
Short	Variational Omni SOL	119.19	0.0100	get 0.0100% / 8h	7h 10m	$24.9M	$130.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.057%Rate

Funding earned: $0.84
Price spread: −0.057% → +0.007%: −$6.33
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$5.49
Costs to cover: 0.000%
Break-even: 52.8 days

Slippage unknown: Lighter: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Lighter live order book, 4 min ago	0.04 bp	0.6 bp −$1	1.4 bp −$14	5.6 bp −$555	21.6 bp −$10.8K
Sell Variational Omni RFQ quote, 4 min ago	1.22 bp	doesn't fit	3.4 bp −$34	9.3 bp −$927	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
Derive SOL-PERP	−0.0082%	1h	119.26	+0.002%	$2.0M	$2.7M	13x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.36	+0.090%	$933	$8K	25x	as long as short
Vest SOL-PERP	−0.0079%	1h	119.30	+0.041%	—	$608K	20x	as long as short
Hibachi SOL/USDT-P	−0.0040%	1h	119.30	+0.037%	$109K	$670K	20x	as long as short
HTX SOL-USDT	−0.0027%	8h	119.19	−0.056%	$231.9M	$43.9M	75x	as long as short
dYdX SOL-USD	−0.0018%	1h	119.36	+0.090%	$4.9M	$25.5M	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0014%	1h	119.25	−0.002%	$32.4M	$97.0M	100x	as long as short
gTrade (Gains Network) SOL/USD	L 0.0000% / S +0.0004%	1h	119.39	+0.117%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.20	−0.041%	$1.2M	$20.0M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.38	+0.104%	$125K	$3.9M	8.3x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SOL_USDC-PERPETUAL	+0.0020%	1h	119.28	+0.025%	$26.7M	$24.8M	50x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	119.39	+0.115%	$104K	$160K	20x	as long as short
BingX SOL-USDT	+0.0080%	8h	119.40	+0.124%	—	$367.2M	—	as long as short
Orderly PERP_SOL_USDC	+0.0083%	8h	119.35	+0.081%	$1.1M	$5.9M	100x	as long as short
Coinbase International SOL-PERP-INTX	+0.0088%	1h	119.29	+0.033%	$8.1M	$410.3M	50x	as long as short
Bluefin SOL-PERP	+0.0092%	1h	119.34	+0.071%	$37K	$17K	25x	as long as short
Gate SOL_USDT	+0.0094%	8h	119.38	+0.106%	$857.3M	$672.6M	100x	as long as short
Lighter SOLlong	+0.0096%	1h	119.25	long leg	$13.7M	$57.1M	25x
Lighter RH SOL	+0.0096%	1h	119.37	+0.098%	$2.2M	$16.9M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	119.30	+0.041%	$350K	$253K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.37	+0.095%	$1.0M	$520K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.33	+0.065%	$46K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.39	+0.116%	$6.2M	$40.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.51	+0.216%	$731.9M	$399.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.36	+0.090%	$180.4M	$176.7M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.41	+0.132%	$12.3M	$125.1M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.39	+0.116%	$983.1M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.40	+0.121%	$829.6M	$1.25B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.32	+0.056%	$373.0M	$1.68B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.29	+0.031%	$234K	$833K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.29	+0.029%	$2.0M	$8.9M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.76	−0.415%	$137.0M	$12.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.40	+0.123%	$434.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.40	+0.126%	$139.3M	$203.6M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.22	−0.030%	$494.8M	$438.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.16	−0.078%	$24.0M	$36.7M	50x	as long as short
Variational Omni SOLshort	+0.0100%	8h	119.19	−0.057%	$24.9M	$130.2M	—
edgeX SOLUSDC	+0.0100%	4h	119.20	−0.044%	$95.7M	$404.3M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.13	−0.100%	$48.8M	$29.3M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.26	+0.006%	$1.5M	$6.0M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.20	−0.044%	$1.4M	$13.5M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.39	+0.115%	$361K	$2.3M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.38	+0.106%	$203K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.36	+0.092%	$194K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.24	−0.011%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.32	+0.056%	$46.7M	$99.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.26	+0.010%	$8.6M	$34.9M	50x	as long as short
Phoenix SOL	+0.0114%	1h	119.28	+0.023%	$6.6M	$13.6M	25x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.17	−0.071%	—	$225.6M	500x	as long as short
RISEx SOL/USDC	+0.0161%	1h	119.35	+0.077%	$1.8M	$4.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0173%	1h	119.01	−0.204%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0187%	1h	119.37	+0.102%	$1.1M	$524K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.15	−0.086%	$51.9M	$74.3M	125x	as long as short
Aftermath Perps SOLUSD	+0.0222%	1h	119.24	−0.009%	$25K	$51K	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0233% / S −0.0167%	1h	119.40	+0.121%	$3.7M	—	200x	as long as short