Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Katana Perps against Lighter RH−0.017%7-day average −0.041% · you buy dearer than you sell

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

Long on Lighter RH Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.017%, 7d avg −0.041%

Together, before fees+0.022%+ Points / potential airdropLighter RH: Points live · farm board+$2 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: Katana Perps is 0.025% dearer against Lighter RH than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	119.22	0.0096	pay 0.0012% / 1h	3m 56s	$2.2M	$17.0M	25x
Short	Katana Perps SOL-USD	119.20	0.0100	get 0.0100% / 8h	1h 03m	$45K	$797K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0.8
Price spread: −0.017% → −0.041%: $2.47
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$0.54
Costs to cover: 0.038%
Break-even: 11.7 days

Slippage unknown: Lighter RH: live order book, 5 min ago; Katana Perps: no order-book sample. 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 RH live order book, 5 min ago	1.30 bp	1.3 bp −$1	1.9 bp −$19	15.4 bp −$1,545	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bluefin SOL-PERP	−0.0196%	1h	119.25	+0.023%	$37K	$17K	25x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	119.25	+0.021%	$845	$8K	25x	as long as short
Vest SOL-PERP	−0.0063%	1h	119.18	−0.036%	—	$723K	20x	as long as short
Derive SOL-PERP	−0.0052%	1h	119.17	−0.045%	$2.0M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0006% / S +0.0004%	1h	119.25	+0.025%	$115K	—	150x	as long as short
dYdX SOL-USD	−0.0001%	1h	119.28	+0.053%	$4.9M	$27.2M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	119.24	+0.017%	$1.2M	$20.7M	3.1x	as long as short
Perpl SOL	0.0000%	43m	119.22	0.000%	$177K	$4.0M	8.3x	as long as short
Phoenix SOL	+0.0054%	1h	119.23	+0.008%	$6.5M	$13.6M	25x	as long as short
Orderly PERP_SOL_USDC	+0.0070%	8h	119.25	+0.028%	$1.1M	$5.9M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SOLUSD	+0.0072%	1h	119.24	+0.017%	$104K	$156K	20x	as long as short
Aftermath Perps SOLUSD	+0.0079%	1h	119.11	−0.091%	$24K	$47K	20x	as long as short
BingX SOL-USDC	+0.0080%	8h	119.24	+0.013%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	119.26	+0.031%	$118K	$608K	20x	as long as short
HTX SOL-USDT	+0.0082%	8h	119.23	+0.007%	$232.1M	$45.0M	75x	as long as short
Gate SOL_USDT	+0.0089%	8h	119.24	+0.017%	$870.6M	$689.9M	100x	as long as short
Lighter SOL	+0.0096%	1h	119.24	+0.017%	$13.6M	$56.1M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	119.22	long leg	$2.2M	$17.0M	25x
Aevo SOL-PERP	+0.0096%	1h	119.22	−0.003%	$353K	$748K	20x	as long as short
Paradex SOL-USD-PERP	+0.0099%	8h	119.18	−0.033%	$1.0M	$522K	50x	as long as short
Katana Perps SOL-USDshort	+0.0100%	8h	119.20	−0.017%	$45K	$797K	20x
Nado SOL-PERP	+0.0100%	1h	119.22	+0.004%	$6.0M	$41.6M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	119.33	+0.092%	$718.4M	$408.9M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	119.28	+0.048%	$178.6M	$175.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	119.27	+0.038%	$12.3M	$119.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	119.27	+0.042%	$982.5M	$3.81B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	119.28	+0.053%	$829.7M	$1.28B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	119.24	+0.017%	$372.5M	$1.72B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	119.18	−0.034%	$233K	$877K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	119.25	+0.025%	$1.9M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	118.85	−0.310%	$133.1M	$7.6M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	119.27	+0.042%	$452.1M	$1.13B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	119.27	+0.043%	$139.7M	$202.4M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	119.25	+0.029%	$496.7M	$456.2M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	119.27	+0.042%	$24.2M	$37.8M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	119.17	−0.043%	$27.5M	$128.4M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	118.89	−0.276%	$95.5M	$400.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	118.99	−0.193%	$48.7M	$31.6M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	119.00	−0.185%	$1.5M	$6.2M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	119.24	+0.017%	$1.4M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	119.23	+0.008%	$367K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	119.23	+0.012%	$202K	$1.7M	20x	as long as short
SunX SOL-USDT	+0.0100%	8h	119.23	+0.005%	$193K	$1.9M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	119.24	+0.017%	$6.3M	$10.8M	20x	as long as short
Phemex SOLUSDT	+0.0100%	8h	119.24	+0.017%	$46.6M	$102.3M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	119.24	+0.021%	$8.7M	$36.1M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0109%	1h	119.30	+0.065%	$26.7M	$27.8M	50x	as long as short
Coinbase International SOL-PERP-INTX	+0.0112%	1h	119.27	+0.044%	$8.3M	$416.8M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0048%	1h	119.24	+0.019%	—	$224.9M	500x	as long as short
Kraken Futures PF_SOLUSD	+0.0149%	1h	119.25	+0.021%	$32.6M	$97.0M	100x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0169% / S −0.0071%	1h	119.25	+0.022%	$3.7M	—	200x	as long as short
Reya SOLRUSDPERP	+0.0182%	1h	119.21	−0.008%	$1.1M	$551K	25x	as long as short
RISEx SOL/USDC	+0.0192%	1h	119.25	+0.029%	$1.7M	$5.5M	20x	as long as short
Injective SOL/USDC PERP	+0.0213%	1h	119.02	−0.168%	$4K	$2K	12x	as long as short
BloFin SOL-USDT	+0.0220%	8h	119.21	−0.008%	$52.0M	$84.2M	125x	as long as short