Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.012%

Price spread now: Lighter against KuCoin−0.185%7-day average +0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,715as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,838as in the Price arb table

costs, in and out, $10k−$1,80918.094% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.940%+$94 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.185%, 7d avg +0.100%

Together, before fees+1.079%+ Points / potential airdropLighter: Season 3 · farm board+$108 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 0.285% cheaper against KuCoin than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin AZTECUSDTM	0.01625	0.0100	pay 0.0050% / 4h	2h 24m	$285K	$288K	20x
Short	Lighter AZTEC	0.01622	0.0096	get 0.0012% / 1h	24m 51s	$82K	$100K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.185%Rate

Funding earned: −$0.84
Price spread: −0.185% → +0.100%: −$28.45
Slippage, 4 orders: −$1,797.41
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$1,838.7
Costs to cover: 18.094%
Break-even: never at this rate

Slippage from KuCoin: live order book, 55 min ago; Lighter: live order book, 57 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 KuCoin live order book, 55 min ago	9.20 bp	1333.3 bp −$1,333	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 57 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	0.01626	+0.062%	—	$1.6M	—	as long as short
Lighter AZTECshort	+0.0096%	1h	0.01622	−0.185%	$82K	$100K	3x
Hyperliquid AZTEC	+0.0100%	1h	0.01626	+0.074%	$1.1M	$1.2M	3x	as long as short
Aster AZTECUSDT	+0.0100%	4h	0.01624	−0.061%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01626	+0.038%	$1.9M	$4.2M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01625	+0.031%	$1.5M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01629	+0.246%	$366K	$894K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01621	−0.246%	$296K	$430K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01625	0.000%	$244K	$106K	20x	as long as short
KuCoin AZTECUSDTMlong	+0.0100%	4h	0.01625	long leg	$285K	$288K	20x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AZTECUSDT	+0.0100%	4h	0.01623	−0.123%	$359K	$276K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01625	+0.027%	$65K	$81K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01625	+0.022%	$57K	$387K	5x	as long as short
BloFin AZTEC-USDT	+0.0138%	4h	0.01623	−0.123%	$97K	$28K	25x	as long as short