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: Lighter RH against Phemex−0.027%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

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

Long on Phemex Short on Lighter RH

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: Lighter RH is 0.027% cheaper against Phemex than usual: you would sell low and buy high, −$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	Phemex SOLUSDT	117.53	0.0100	pay 0.0100% / 8h	5h 52m	$45.7M	$100.2M	50x
Short	Lighter RH SOL	117.50	0.0096	get 0.0012% / 1h	52m 58s	$2.1M	$16.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Phemex. 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 PhemexbpFee Lighter RHbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$0.84
Price spread: −0.027% → −0.001%: −$2.67
Slippage, 4 orders: −$6.81
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$22.32
Costs to cover: 0.188%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Lighter RH: 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 Phemex live order book, 6 min ago	0.43 bp	8.0 bp −$8	10.6 bp −$106	18.7 bp −$1,872	doesn't fit
Sell Lighter RH live order book, 6 min ago	1.62 bp	1.6 bp −$2	2.2 bp −$22	18.8 bp −$1,877	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	−0.221%	$1.5M	$5.9M	50x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	117.39	−0.123%	$918	$8K	25x	as long as short
Vest SOL-PERP	−0.0057%	1h	117.33	−0.170%	—	$605K	20x	as long as short
Kraken Futures PF_SOLUSD	−0.0055%	1h	117.51	−0.014%	$31.5M	$97.9M	100x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	117.49	−0.034%	$56K	—	150x	as long as short
dYdX SOL-USD	0.0000%	1h	117.40	−0.110%	$4.5M	$24.1M	20x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	117.43	−0.083%	$1.4M	$19.5M	3.1x	as long as short
Derive SOL-PERP	+0.0009%	1h	117.43	−0.084%	$2.0M	$2.8M	13x	as long as short
HTX SOL-USDT	+0.0033%	8h	117.32	−0.175%	$227.9M	$45.5M	75x	as long as short
01 Exchange SOLUSD	+0.0048%	1h	117.42	−0.094%	$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	+0.012%	$8.0M	$402.3M	50x	as long as short
BingX SOL-USDC	+0.0080%	8h	117.48	−0.038%	—	$10.5M	—	as long as short
Hibachi SOL/USDT-P	+0.0080%	1h	117.37	−0.138%	$100K	$690K	20x	as long as short
Orderly PERP_SOL_USDC	+0.0088%	8h	117.52	−0.008%	$1.0M	$5.8M	100x	as long as short
Gate SOL_USDT	+0.0093%	8h	117.52	−0.009%	$852.9M	$642.7M	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 SOLshort	+0.0096%	1h	117.50	−0.027%	$2.1M	$16.2M	25x
Aevo SOL-PERP	+0.0096%	1h	117.50	−0.028%	$344K	$225K	20x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0096%	1h	117.55	+0.019%	$26.4M	$25.2M	50x	as long as short
Katana Perps SOL-USD	+0.0100%	8h	117.34	−0.162%	$67K	$831K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	117.43	−0.089%	$1.0M	$516K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	117.38	−0.128%	$5.8M	$39.7M	40x	as long as short
Aster SOLUSDT	+0.0100%	8h	117.54	+0.004%	$176.4M	$176.9M	100x	as long as short
Pacifica SOL	+0.0100%	1h	117.40	−0.110%	$14.5M	$127.0M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	117.58	+0.042%	$968.9M	$3.73B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	117.59	+0.051%	$821.4M	$1.24B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	117.57	+0.034%	$366.6M	$1.63B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	117.61	+0.068%	$237K	$850K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	117.39	−0.118%	$2.0M	$9.0M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	117.40	−0.111%	$134.9M	$15.4M	20x	as long as short
MEXC SOL_USDT	+0.0100%	8h	117.53	0.000%	$425.8M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	117.52	−0.011%	$130.5M	$211.1M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	117.56	+0.026%	$487.4M	$432.5M	100x	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	117.54	+0.009%	$23.7M	$37.0M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	117.64	+0.090%	$24.3M	$119.7M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	117.42	−0.097%	$94.3M	$399.8M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	117.42	−0.095%	$48.1M	$28.6M	20x	as long as short
StandX SOL-USD	+0.0100%	1h	117.36	−0.145%	$1.3M	$13.4M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	117.37	−0.136%	$353K	$2.4M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	117.49	−0.035%	$201K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	117.48	−0.043%	$25K	$28K	25x	as long as short
SunX SOL-USDT	+0.0100%	8h	117.35	−0.153%	$190K	$1.8M	30x	as long as short
SoDEX SOL-USD	+0.0100%	1h	117.51	−0.017%	$6.2M	$10.8M	20x	as long as short
Phemex SOLUSDTlong	+0.0100%	8h	117.53	long leg	$45.7M	$100.2M	50x
Extended SOL-USD	+0.0104%	1h	117.54	+0.009%	$8.2M	$36.0M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0112% / S +0.0056%	1h	117.42	−0.092%	—	$220.7M	500x	as long as short
Phoenix SOL	+0.0129%	1h	117.35	−0.153%	$6.5M	$13.4M	25x	as long as short
RISEx SOL/USDC	+0.0136%	1h	117.44	−0.079%	$1.9M	$4.9M	20x	as long as short
Hyperliquid SOL	+0.0166%	1h	117.68	+0.128%	$718.2M	$392.1M	20x	as long as short
Reya SOLRUSDPERP	+0.0189%	1h	117.37	−0.135%	$1.1M	$523K	25x	as long as short
Injective SOL/USDC PERP	+0.0218%	1h	117.45	−0.068%	$4K	$2K	12x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	117.48	−0.042%	$3.6M	—	200x	as long as short
Aftermath Perps SOLUSD	+0.0367%	1h	117.50	−0.029%	$25K	$51K	20x	as long as short
Perpl SOL	+0.0447%	43m	117.44	−0.075%	$128K	$3.8M	8.3x	as long as short