Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: Kalshi against Lighter RH+0.152%7-day average +0.023% · you sell dearer than you buy

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

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

costs, in and out, $10k−$200.198% of the position

Long on Lighter RH Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 7 days−0.119%−$12 · spread now +0.152%, 7d avg +0.023%

Together, before fees−0.149%+ Points / potential airdropLighter RH: Points live · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.130% dearer against Lighter RH than usual: you sell high and buy low (spread +0.152% now, against its 7-day average of +0.023%): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (−0.030% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	119.45	0.0096	pay 0.0012% / 1h	43m 33s	$2.2M	$16.9M	25x
Short	Kalshi KXSOLPERP	119.63	0	get 0.0000% / 8h	4h 43m	$1.3M	$20.7M	3.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.152%Rate

Funding earned: −$20.16
Price spread: +0.152% → +0.023%: $12.96
Slippage, 4 orders: −$9.8
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$27
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Kalshi: live order book, 5 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	1.59 bp	1.6 bp −$2	2.2 bp −$22	21.3 bp −$2,126	doesn't fit
Sell Kalshi live order book, 5 min ago	1.21 bp	8.3 bp −$8	11.2 bp −$112	17.8 bp −$1,778	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
Hotstuff SOL-PERP	−0.0080%	1h	119.47	+0.016%	$847	$8K	25x	as long as short
Derive SOL-PERP	−0.0073%	1h	119.48	+0.028%	$2.0M	$2.8M	13x	as long as short
Vest SOL-PERP	−0.0066%	1h	119.42	−0.024%	—	$723K	20x	as long as short
dYdX SOL-USD	−0.0020%	1h	119.55	+0.085%	$5.2M	$27.7M	20x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.57	+0.101%	$113K	—	150x	as long as short
Kalshi KXSOLPERPshort	0.0000%	8h	119.63	+0.152%	$1.3M	$20.7M	3.1x
Perpl SOL	0.0000%	43m	119.56	+0.095%	$177K	$4.0M	8.3x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0053%	1h	119.64	+0.158%	$26.7M	$26.0M	50x	as long as short
Orderly PERP_SOL_USDC	+0.0071%	8h	119.59	+0.123%	$1.1M	$5.9M	100x	as long as short
01 Exchange SOLUSD	+0.0080%	1h	119.48	+0.027%	$104K	$158K	20x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SOL-USDC	+0.0080%	8h	119.52	+0.062%	—	$10.5M	—	as long as short
Gate SOL_USDT	+0.0089%	8h	119.47	+0.018%	$868.5M	$676.0M	100x	as long as short
HTX SOL-USDT	+0.0091%	8h	119.53	+0.071%	$232.7M	$45.0M	75x	as long as short
ApeX Omni SOLUSDT	+0.0092%	1h	119.57	+0.105%	$1.5M	$6.2M	50x	as long as short
Lighter SOL	+0.0096%	1h	119.48	+0.025%	$13.7M	$55.6M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	119.45	long leg	$2.2M	$16.9M	25x
Aevo SOL-PERP	+0.0096%	1h	119.59	+0.116%	$354K	$748K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0096%	1h	119.61	+0.132%	$8.2M	$419.1M	50x	as long as short
Aftermath Perps SOLUSD	+0.0098%	1h	119.59	+0.118%	$24K	$47K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	119.43	−0.013%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	119.45	+0.002%	$45K	$797K	20x	as long as short
Nado SOL-PERP	+0.0100%	1h	119.48	+0.025%	$6.1M	$40.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.57	+0.102%	$723.9M	$412.0M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.47	+0.021%	$178.9M	$175.6M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.51	+0.052%	$12.3M	$120.3M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.43	−0.013%	$985.6M	$3.82B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.46	+0.013%	$832.3M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.44	−0.007%	$373.0M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.48	+0.027%	$234K	$873K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.50	+0.042%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	119.65	+0.169%	$134.3M	$6.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.50	+0.044%	$459.0M	$1.11B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.49	+0.036%	$139.7M	$204.5M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.44	−0.008%	$497.3M	$456.3M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.60	+0.127%	$24.4M	$37.9M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.65	+0.169%	$27.4M	$129.1M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	119.60	+0.125%	$96.1M	$402.9M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	119.53	+0.069%	$48.9M	$31.3M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	119.59	+0.119%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.44	−0.007%	$369K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.54	+0.080%	$203K	$1.7M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	119.57	+0.100%	$37K	$17K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.57	+0.104%	$194K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.59	+0.119%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.57	+0.102%	$46.7M	$102.7M	50x	as long as short
Phoenix SOL	+0.0100%	1h	119.70	+0.211%	$6.6M	$13.7M	25x	as long as short
Extended SOL-USD	+0.0104%	1h	119.44	−0.004%	$8.7M	$35.9M	50x	as long as short
Hibachi SOL/USDT-P	+0.0104%	1h	119.58	+0.107%	$122K	$633K	20x	as long as short
Kraken Futures PF_SOLUSD	+0.0105%	1h	119.61	+0.137%	$32.7M	$97.0M	100x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.57	+0.100%	—	$224.9M	500x	as long as short
Injective SOL/USDC PERP	+0.0170%	1h	119.60	+0.127%	$4K	$2K	12x	as long as short
Reya SOLRUSDPERP	+0.0183%	1h	119.42	−0.021%	$1.1M	$542K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.57	+0.102%	$52.1M	$84.5M	125x	as long as short
RISEx SOL/USDC	+0.0226%	1h	119.49	+0.031%	$1.7M	$5.2M	20x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0241% / S −0.0181%	1h	119.56	+0.095%	$3.8M	—	200x	as long as short