We study the null dipole deformation of N = 4 super Yang-Mills theory, which is an example of a potentially solvable 'dipole CFT': a theory that is non-local along a null direction, has non-relativistic conformal invariance along the remaining ones, and is holographically dual to a Schrodinger space-time. We initiate the field-theoretical study of the spectrum in this model by using integrability inherited from the parent theory. The dipole deformation corresponds to a nondiagonal Drinfeld-Reshetikhin twist in the spin chain picture, which renders the traditional Bethe ansatz inapplicable from the very beginning. We use instead the Baxter equation supplemented with nontrivial asymptotics, which gives the full 1-loop spectrum in the sl(2) sector. We show that anomalous dimensions of long gauge theory operators perfectly match the string theory prediction, providing a quantitative test of Schrodinger holography.