Funding arb · Price arb /

SOL

all SOL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against SunX−0.032%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$440.437% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)+0.303%+$30 · spread now −0.032%, 7d avg +0.028%

Together, before fees+0.246%+ Points / potential airdropLighter: Season 3 · farm board+$25 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 is 0.060% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SOL-USDT	116.61	0.0100	pay 0.0100% / 8h	4h 43m	$189K	$1.8M	30x
Short	Lighter SOL	116.57	0.0096	get 0.0012% / 1h	43m 17s	$13.1M	$59.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$0.84
Price spread: −0.032% → +0.028%: −$6
Slippage, 4 orders: −$35.68
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$50.52
Costs to cover: 0.437%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; Lighter: live order book, 11 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 SunX live order book, 12 min ago	3.40 bp	22.0 bp −$22	32.5 bp −$325	doesn't fit	doesn't fit
Sell Lighter live order book, 11 min ago	0.43 bp	0.7 bp −$1	1.8 bp −$18	6.0 bp −$599	22.6 bp −$11.3K

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
Vest SOL-PERP	−0.0089%	1h	116.57	−0.030%	—	$602K	20x	as long as short
Hotstuff SOL-PERP	−0.0080%	1h	116.78	+0.142%	$913	$8K	25x	as long as short
Hibachi SOL/USDT-P	−0.0056%	1h	116.78	+0.147%	$103K	$700K	20x	as long as short
Derive SOL-PERP	−0.0016%	1h	116.47	−0.118%	$1.9M	$2.8M	13x	as long as short
gTrade (Gains Network) SOL/USD	L −0.0001% / S +0.0004%	1h	116.59	−0.017%	$54K	—	150x	as long as short
Kalshi KXSOLPERP	0.0000%	8h	116.72	+0.095%	$1.4M	$18.7M	3.1x	as long as short
dYdX SOL-USD	0.0000%	1h	116.70	+0.076%	$4.4M	$24.2M	20x	as long as short
01 Exchange SOLUSD	+0.0032%	1h	116.63	+0.018%	$99K	$169K	20x	as long as short
Coinbase International SOL-PERP-INTX	+0.0064%	1h	116.57	−0.031%	$7.5M	$404.3M	50x	as long as short
Deribit SOL_USDC-PERPETUAL	+0.0073%	1h	116.61	−0.002%	$26.3M	$25.3M	50x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SOLUSD	+0.0075%	1h	116.56	−0.040%	$31.0M	$100.3M	100x	as long as short
Orderly PERP_SOL_USDC	+0.0091%	8h	116.57	−0.037%	$1.0M	$5.8M	100x	as long as short
Lighter SOLshort	+0.0096%	1h	116.57	−0.032%	$13.1M	$59.7M	25x
Lighter RH SOL	+0.0096%	1h	116.69	+0.069%	$2.2M	$16.7M	25x	as long as short
Aevo SOL-PERP	+0.0096%	1h	116.57	−0.034%	$342K	$236K	20x	as long as short
Katana Perps SOL-USD	+0.0098%	8h	116.56	−0.042%	$50K	$866K	20x	as long as short
Paradex SOL-USD-PERP	+0.0100%	8h	116.74	+0.112%	$989K	$534K	50x	as long as short
Nado SOL-PERP	+0.0100%	1h	116.57	−0.034%	$5.4M	$39.5M	40x	as long as short
Hyperliquid SOL	+0.0100%	1h	116.65	+0.035%	$705.9M	$395.6M	20x	as long as short
Aster SOLUSDT	+0.0100%	8h	116.65	+0.035%	$175.3M	$182.0M	100x	as long as short
Pacifica SOL	+0.0100%	1h	116.75	+0.117%	$15.7M	$129.8M	20x	as long as short
Binance SOLUSDT	+0.0100%	8h	116.56	−0.041%	$964.9M	$3.77B	100x	as long as short
Bybit SOLUSDT	+0.0100%	8h	116.52	−0.075%	$787.9M	$1.33B	100x	as long as short
OKX SOL-USDT-SWAP	+0.0100%	8h	116.55	−0.051%	$366.6M	$1.67B	100x	as long as short
Ondo Perps SOL-USD.P	+0.0100%	1h	116.66	+0.044%	$232K	$848K	10x	as long as short
Arcus SOL-USD	+0.0100%	1h	116.51	−0.085%	$2.0M	$9.1M	20x	as long as short
Bulk SOL-USD	+0.0100%	1h	116.65	+0.035%	$133.5M	$20.6M	20x	as long as short
Gate SOL_USDT	+0.0100%	8h	116.57	−0.033%	$846.1M	$655.7M	100x	as long as short
MEXC SOL_USDT	+0.0100%	8h	116.57	−0.033%	$418.6M	$1.06B	300x	as long as short
KuCoin SOLUSDTM	+0.0100%	8h	116.55	−0.055%	$126.2M	$217.0M	75x	as long as short
Bitget SOLUSDT	+0.0100%	8h	116.53	−0.069%	$478.7M	$441.1M	100x	as long as short
BingX SOL-USDC	+0.0100%	8h	116.58	−0.022%	—	$10.5M	—	as long as short
Backpack SOL_USDC_PERP	+0.0100%	1h	116.79	+0.155%	$23.3M	$37.5M	50x	as long as short
Variational Omni SOL	+0.0100%	8h	116.49	−0.099%	$24.4M	$114.8M	—	as long as short
edgeX SOLUSDC	+0.0100%	4h	116.46	−0.124%	$93.5M	$398.2M	75x	as long as short
GRVT SOL_USDT_Perp	+0.0100%	8h	116.62	+0.009%	$47.7M	$29.4M	20x	as long as short
ApeX Omni SOLUSDT	+0.0100%	1h	116.67	+0.056%	$1.2M	$6.6M	50x	as long as short
StandX SOL-USD	+0.0100%	1h	116.62	+0.009%	$1.3M	$13.0M	30x	as long as short
Polymarket Perps SOL-USD	+0.0100%	1h	116.59	−0.016%	$322K	$2.5M	20x	as long as short
Bullet SOL-USD	+0.0100%	1h	116.56	−0.045%	$148K	$1.6M	20x	as long as short
Bluefin SOL-PERP	+0.0100%	1h	116.53	−0.069%	$25K	$29K	25x	as long as short
SunX SOL-USDTlong	+0.0100%	8h	116.61	long leg	$189K	$1.8M	30x
SoDEX SOL-USD	+0.0100%	1h	116.56	−0.042%	$6.0M	$10.8M	20x	as long as short
HTX SOL-USDT	+0.0100%	8h	116.51	−0.089%	$226.0M	$46.6M	75x	as long as short
Phemex SOLUSDT	+0.0100%	8h	116.62	+0.009%	$45.6M	$101.4M	50x	as long as short
Extended SOL-USD	+0.0104%	1h	116.50	−0.094%	$7.9M	$36.6M	50x	as long as short
Jupiter Perps SOL-PERP	L +0.0120% / S +0.0056%	1h	116.70	+0.078%	—	$228.4M	500x	as long as short
Injective SOL/USDC PERP	+0.0137%	1h	116.56	−0.042%	$4K	$2K	12x	as long as short
Phoenix SOL	+0.0137%	1h	116.52	−0.076%	$6.5M	$13.4M	25x	as long as short
Reya SOLRUSDPERP	+0.0190%	1h	116.53	−0.068%	$1.1M	$539K	25x	as long as short
BloFin SOL-USDT	+0.0220%	8h	116.56	−0.042%	$51.7M	$72.0M	125x	as long as short
GMX SOL/USD [SOL-USDC]	L +0.0232% / S −0.0170%	1h	116.58	−0.027%	$3.5M	—	200x	as long as short
Perpl SOL	+0.0335%	43m	116.62	+0.007%	$140K	$3.7M	8.3x	as long as short
Aftermath Perps SOLUSD	+0.0501%	1h	116.72	+0.098%	$25K	$51K	20x	as long as short
RISEx SOL/USDC	+0.0559%	1h	116.70	+0.081%	$1.9M	$4.9M	20x	as long as short