Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0090%/8h= −9.8% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter RH−0.119%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$160.156% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 7 days+0.117%+$12 · spread now −0.119%, 7d avg +0.002%

Together, before fees+0.044%+ Points / potential airdropLighter RH: Points live · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.121% cheaper against Lighter RH than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	116.68	0.0096	pay 0.0012% / 1h	28m 40s	$2.2M	$16.8M	25x
Short	Bybit SOLUSDT	116.54	0.0006	get 0.0006% / 8h	3h 28m	$758.2M	$1.38B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter RH. 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 Lighter RHbpFee BybitbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$18.85
Price spread: −0.119% → +0.002%: −$12.14
Slippage, 4 orders: −$4.62
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$46.61
Costs to cover: 0.156%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Bybit: 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 RH live order book, 5 min ago	1.46 bp	1.5 bp −$1	1.8 bp −$18	21.6 bp −$2,157	doesn't fit
Sell Bybit live order book, 6 min ago	0.43 bp	5.9 bp −$6	7.8 bp −$78	14.0 bp −$1,398	26.3 bp −$13.1K

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	+0.028%	$31.0M	$101.0M	100x	as long as short
Hibachi SOL/USDT-P	−0.0168%	1h	116.82	+0.119%	$103K	$699K	20x	as long as short
Vest SOL-PERP	−0.0091%	1h	116.70	+0.014%	—	$601K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.93	+0.211%	$1K	$8K	25x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.74	+0.048%	$42K	—	150x	as long as short
Bybit SOLUSDTshort	+0.0006%	8h	116.54	−0.119%	$758.2M	$1.38B	100x
dYdX SOL-USD	+0.0011%	1h	116.69	+0.007%	$4.4M	$24.2M	20x	as long as short
Derive SOL-PERP	+0.0032%	1h	116.65	−0.029%	$1.9M	$2.9M	13x	as long as short
Coinbase International SOL-PERP-INTX	+0.0048%	1h	116.72	+0.037%	$7.6M	$405.2M	50x	as long as short
01 Exchange SOLUSD	+0.0072%	1h	116.75	+0.060%	$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_USDC	+0.0093%	8h	116.72	+0.033%	$1.0M	$5.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	116.68	+0.003%	$13.1M	$60.2M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	116.68	long leg	$2.2M	$16.8M	25x
Aevo SOL-PERP	+0.0096%	1h	116.71	+0.027%	$350K	$246K	20x	as long as short
Bullet SOL-USD	+0.0098%	1h	116.71	+0.029%	$147K	$1.6M	20x	as long as short
Katana Perps SOL-USD	+0.0099%	8h	116.63	−0.043%	$61K	$895K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.66	−0.018%	$1.0M	$551K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.74	+0.052%	$5.5M	$40.2M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.80	+0.103%	$705.1M	$394.7M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.66	−0.016%	$174.8M	$183.2M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.72	+0.031%	$15.8M	$130.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.68	−0.004%	$973.9M	$3.82B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.64	−0.034%	$366.8M	$1.69B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.69	+0.009%	$229K	$842K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.71	+0.025%	$921K	$8.8M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.75	+0.060%	$133.5M	$19.9M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.67	−0.009%	$852.6M	$663.1M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.69	+0.009%	$367.1M	$1.08B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.66	−0.015%	$129.2M	$223.2M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.65	−0.027%	$481.4M	$444.5M	100x	as long as short
BingX SOL-USDT	+0.0100%	8h	116.62	−0.051%	—	$365.0M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.67	−0.009%	$23.0M	$39.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.79	+0.098%	$24.6M	$113.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.77	+0.076%	$93.7M	$400.4M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.90	+0.189%	$47.8M	$30.8M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.87	+0.163%	$1.2M	$6.7M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.80	+0.103%	$1.3M	$12.7M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.71	+0.026%	$321K	$2.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.71	+0.027%	$25K	$31K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	116.70	+0.018%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	116.72	+0.034%	$6.1M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.68	−0.003%	$226.1M	$48.0M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.74	+0.051%	$45.7M	$103.1M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.59	−0.073%	$8.3M	$37.6M	50x	as long as short
Kalshi KXSOLPERP	+0.0105%	8h	116.75	+0.062%	$1.5M	$19.0M	3.1x	as long as short
Injective SOL/USDC PERP	+0.0107%	1h	116.99	+0.266%	$4K	$2K	12x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	116.78	+0.081%	—	$231.6M	500x	as long as short
Phoenix SOL	+0.0151%	1h	116.89	+0.180%	$6.5M	$13.8M	25x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0162%	1h	116.76	+0.073%	$26.3M	$23.3M	50x	as long as short
Reya SOLRUSDPERP	+0.0191%	1h	116.69	+0.012%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.71	+0.026%	$52.0M	$67.2M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0235% / S −0.0178%	1h	116.73	+0.039%	$3.6M	—	200x	as long as short
Perpl SOL	+0.0447%	43m	116.80	+0.105%	$138K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0541%	1h	116.86	+0.157%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0561%	1h	116.73	+0.045%	$1.9M	$4.8M	20x	as long as short