Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.080%

Price spread now: BingX against Lighter−0.190%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1221.224% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.504%−$50 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.190%, 7d avg −0.037%

Together, before fees−0.397%+ Points / potential airdropLighter: Season 3 · farm board−$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.153% cheaper against Lighter than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AZTEC	0.01576	0.0096	pay 0.0012% / 1h	41m 29s	$55K	$100K	3x
Short	BingX AZTEC-USDT	0.01573	0.0036	get 0.0018% / 4h	2h 41m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.190%Rate

Funding earned: −$12.6
Price spread: −0.190% → −0.037%: −$15.32
Slippage, 4 orders: −$112.44
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$150.36
Costs to cover: 1.224%
Break-even: never at this rate

Slippage from Lighter: live order book, 53 min ago; BingX: 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 Lighter live order book, 53 min ago	19.53 bp	42.4 bp −$42	110.7 bp −$1,107	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	9.47 bp	31.1 bp −$31	94.0 bp −$940	678.6 bp −$67.9K	1083.1 bp −$541.6K

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-USDTshort	+0.0036%	4h	0.01573	−0.190%	—	$1.6M	—
Lighter AZTEClong	+0.0096%	1h	0.01576	long leg	$55K	$100K	3x
Hyperliquid AZTEC	+0.0100%	1h	0.01571	−0.336%	$1.1M	$1.2M	3x	as long as short
Aster AZTECUSDT	+0.0100%	4h	0.01575	−0.061%	$9K	$24K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01573	−0.198%	$1.9M	$4.4M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01571	−0.330%	$1.5M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01572	−0.254%	$323K	$913K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01575	−0.063%	$292K	$422K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01572	−0.254%	$234K	$118K	20x	as long as short
KuCoin AZTECUSDTM	+0.0100%	4h	0.01573	−0.190%	$281K	$315K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AZTECUSDT	+0.0100%	4h	0.01572	−0.254%	$380K	$329K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01578	+0.141%	$62K	$65K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01573	−0.200%	$56K	$451K	5x	as long as short
BloFin AZTEC-USDT	+0.0106%	4h	0.01578	+0.127%	$92K	$33K	25x	as long as short