Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.042%

Price spread now: Lighter against Bybit−0.087%7-day average +0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1601.599% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.802%+$80 on $10k

Price spread, last 4 days (all we have)+0.303%+$30 · spread now −0.087%, 7d avg +0.116%

Together, before fees+1.105%+ Points / potential airdropLighter: Season 3 · farm board+$110 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 0.203% cheaper against Bybit than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.116%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AZTECUSDT	0.01614	0.0100	pay 0.0050% / 4h	2h 37m	$1.5M	$1.3M	25x
Short	Lighter AZTEC	0.01613	0.0096	get 0.0012% / 1h	37m 35s	$81K	$100K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$0.84
Price spread: −0.087% → +0.116%: −$20.26
Slippage, 4 orders: −$148.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$180.99
Costs to cover: 1.599%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Lighter: live order book, 44 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 Bybit live order book, 4 min ago	6.19 bp	51.1 bp −$51	341.7 bp −$3,417	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	19.97 bp	42.5 bp −$43	108.8 bp −$1,088	doesn't fit	doesn't fit

AZTEC on 14 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
BingX AZTEC-USDT	+0.0036%	4h	0.01617	+0.155%	—	$1.6M	—	as long as short
BloFin AZTEC-USDT	+0.0082%	4h	0.01611	−0.217%	$97K	$28K	25x	as long as short
Lighter AZTECshort	+0.0096%	1h	0.01613	−0.087%	$81K	$100K	3x
Hyperliquid AZTEC	+0.0100%	1h	0.01618	+0.211%	$1.1M	$1.2M	3x	as long as short
Aster AZTECUSDT	+0.0100%	4h	0.01614	−0.036%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01617	+0.155%	$1.9M	$4.2M	25x	as long as short
Bybit AZTECUSDTlong	+0.0100%	4h	0.01614	long leg	$1.5M	$1.3M	25x
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01620	+0.341%	$363K	$892K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01614	−0.031%	$295K	$430K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01616	+0.093%	$243K	$106K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AZTECUSDTM	+0.0100%	4h	0.01613	−0.093%	$283K	$288K	20x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01617	+0.155%	$358K	$277K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01616	+0.062%	$65K	$81K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01617	+0.129%	$57K	$387K	5x	as long as short