Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.042%

Price spread now: Bybit against Lighter+0.031%7-day average −0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$231as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1511.512% of the position

Long on Lighter Short on Bybit

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)−0.247%−$25 · spread now +0.031%, 7d avg −0.116%

Together, before fees−1.049%+ Points / potential airdropLighter: Season 3 · farm board−$105 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: Bybit is 0.147% dearer against Lighter than usual: you sell high and buy low, +$15 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	Lighter AZTEC	0.01623	0.0096	pay 0.0012% / 1h	55m 03s	$81K	$95K	3x
Short	Bybit AZTECUSDT	0.01624	0.0100	get 0.0050% / 4h	1h 55m	$1.5M	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0.84
Price spread: +0.031% → −0.116%: $14.67
Slippage, 4 orders: −$140.25
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$135.74
Costs to cover: 1.512%
Break-even: 1138.2 days

Slippage from Lighter: live order book, 18 min ago; Bybit: live order book, 1 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, 18 min ago	17.27 bp	21.0 bp −$21	62.2 bp −$622	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.08 bp	47.5 bp −$47	287.3 bp −$2,873	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	0.01627	+0.216%	—	$1.7M	—	as long as short
Lighter AZTEClong	+0.0096%	1h	0.01623	long leg	$81K	$95K	3x
Hyperliquid AZTEC	+0.0100%	1h	0.01626	+0.148%	$1.1M	$1.2M	3x	as long as short
Aster AZTECUSDT	+0.0100%	4h	0.01623	−0.030%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01625	+0.119%	$1.9M	$4.1M	25x	as long as short
Bybit AZTECUSDTshort	+0.0100%	4h	0.01624	+0.031%	$1.5M	$1.3M	25x
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01626	+0.154%	$364K	$893K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01621	−0.154%	$295K	$428K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01625	+0.092%	$244K	$104K	20x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01624	+0.031%	$359K	$276K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AZTEC	+0.0100%	4h	0.01623	−0.039%	$65K	$81K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01626	+0.169%	$57K	$387K	5x	as long as short
KuCoin AZTECUSDTM	+0.0122%	4h	0.01624	+0.031%	$285K	$287K	20x	as long as short
BloFin AZTEC-USDT	+0.0143%	4h	0.01627	+0.216%	$97K	$28K	25x	as long as short