Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: Bitget against Lighter−0.210%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.210% cheaper against Lighter than usual: you would sell low and buy high, −$21 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 2Z	0.05248	0.0096	pay 0.0012% / 1h	21m 58s	$17K	$8K	3x
Short	Bitget 2ZUSDT	0.05237	0.0100	get 0.0050% / 4h	1h 21m	$157K	$632K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Lighter. 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 LighterbpFee BitgetbpOrdersPrice spread, now −0.210%Rate

Funding earned: $0.84
Price spread: −0.210% → 0.000%: −$20.96
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$32.12
Costs to cover: 0.120%
Break-even: 274.7 days

Slippage unknown: Lighter: no order-book sample; Bitget: live order book, 38 min ago. 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 no order-book sample	—	—	—	—	—
Sell Bitget live order book, 38 min ago	9.65 bp	22.6 bp −$23	149.1 bp −$1,491	doesn't fit	doesn't fit

Lighter: 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.

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0408%	1h	0.05235	−0.248%	$46K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−5.107%	$867	$213	5.5x	as long as short
Lighter 2Zlong	+0.0096%	1h	0.05248	long leg	$17K	$8K	3x
Hyperliquid 2Z	+0.0100%	1h	0.05240	−0.151%	$668K	$368K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05240	−0.146%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05241	−0.126%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05238	−0.191%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05241	−0.133%	$690K	$954K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05238	−0.191%	$453K	$709K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05237	−0.210%	$91K	$68K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05241	−0.133%	$297K	$125K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05235	−0.252%	$193K	$51K	50x	as long as short
Bitget 2ZUSDTshort	+0.0100%	4h	0.05237	−0.210%	$157K	$632K	50x
BingX 2Z-USDT	+0.0100%	4h	0.05241	−0.133%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05224	−0.449%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05244	−0.076%	$2K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.2477%	1h	0.05244	−0.071%	$6K	$3K	10x	as long as short