Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: Phemex against Lighter RH+0.027%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$190.188% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 3 days (all we have)−0.087%−$9 · spread now +0.027%, 7d avg +0.001%

Together, before fees−0.137%+ Points / potential airdropLighter RH: Points live · farm board−$14 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: Phemex is 0.027% dearer against Lighter RH than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH SOL	117.50	0.0096	pay 0.0012% / 1h	53m 14s	$2.1M	$16.2M	25x
Short	Phemex SOLUSDT	117.53	0.0100	get 0.0100% / 8h	5h 53m	$45.7M	$100.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0.84
Price spread: +0.027% → +0.001%: $2.67
Slippage, 4 orders: −$6.81
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$15.3
Costs to cover: 0.188%
Break-even: 134.5 days

Slippage from Lighter RH: live order book, 6 min ago; Phemex: 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, 6 min ago	1.62 bp	1.6 bp −$2	2.2 bp −$22	20.6 bp −$2,056	doesn't fit
Sell Phemex live order book, 6 min ago	0.43 bp	7.5 bp −$8	8.1 bp −$81	16.0 bp −$1,598	doesn't fit

SOL on 54 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
ApeX Omni SOLUSDT	−0.0279%	1h	117.27	−0.194%	$1.5M	$5.9M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.39	−0.095%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0057%	1h	117.33	−0.143%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.51	+0.013%	$31.5M	$97.9M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.49	−0.007%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.40	−0.082%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.43	−0.056%	$1.4M	$19.5M	3.1x	as long as short
Derive SOL-PERP	+0.0009%	1h	117.43	−0.056%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0033%	8h	117.32	−0.147%	$227.9M	$45.5M	75x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.42	−0.066%	$100K	$162K	20x	as long as short

Show all 54 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SOL-PERP-INTX	+0.0064%	1h	117.54	+0.039%	$8.0M	$402.3M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.48	−0.011%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	117.37	−0.111%	$100K	$690K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.52	+0.020%	$1.0M	$5.8M	100x	as long as short
Gate SOL_USDT	+0.0093%	8h	117.46	−0.032%	$852.5M	$642.6M	100x	as long as short
Lighter SOL	+0.0096%	1h	117.51	+0.014%	$13.1M	$58.9M	25x	as long as short
Lighter RH SOLlong	+0.0096%	1h	117.50	long leg	$2.1M	$16.2M	25x
Aevo SOL-PERP	+0.0096%	1h	117.50	−0.001%	$344K	$225K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0096%	1h	117.55	+0.047%	$26.4M	$25.2M	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.34	−0.134%	$67K	$831K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.43	−0.061%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.38	−0.100%	$5.8M	$39.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.43	−0.060%	$176.2M	$176.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.40	−0.083%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.53	+0.027%	$968.5M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.54	+0.037%	$821.1M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.54	+0.036%	$366.3M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	+0.095%	$237K	$850K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.39	−0.091%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.40	−0.083%	$134.9M	$15.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.53	+0.027%	$425.8M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.52	+0.016%	$130.5M	$211.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.57	+0.058%	$487.4M	$432.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.54	+0.036%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.64	+0.117%	$24.3M	$119.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.42	−0.070%	$94.3M	$399.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.42	−0.068%	$48.1M	$28.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.36	−0.117%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.37	−0.109%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.49	−0.007%	$201K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.48	−0.016%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.35	−0.126%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.51	+0.010%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTshort	+0.0100%	8h	117.53	+0.027%	$45.7M	$100.2M	50x
Extended SOL-USD	+0.0104%	1h	117.48	−0.014%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.42	−0.064%	—	$220.7M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.35	−0.126%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.44	−0.052%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0163%	1h	117.50	+0.002%	$717.1M	$392.0M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.37	−0.108%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	−0.041%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.48	−0.014%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0367%	1h	117.50	−0.002%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.44	−0.048%	$128K	$3.8M	8.3x	as long as short