Funding arb · Price arb /

CAP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.074%

Price spread now: Lighter against BingX−0.041%7-day average — · you buy dearer than you sell

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

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 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 pays, the price is against you. Lighter is 0.041% cheaper against BingX than usual: you would sell low and buy high (spread −0.041% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 5.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX CAP-USDT	0.04625	0.0070	pay 0.0035% / 4h	1h 07m	—	$1.6M	—
Short	Lighter CAP	0.04623	0.0096	get 0.0012% / 1h	7m 50s	$19K	$1K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now −0.041%Rate

Funding earned: $5.46
Price spread: −0.041% → 0.000%: −$4.11
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$8.65
Costs to cover: 0.100%
Break-even: 18.1 days

Slippage unknown: BingX: live order book, 8 min ago; Lighter: no order-book sample. 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 BingX live order book, 8 min ago	4.33 bp	21.8 bp −$22	76.7 bp −$767	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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.

CAP 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
gTrade (Gains Network) CAP/USD	L 0.0000% / S 0.0000%	1h	0.04619	−0.130%	—	—	150x	as long as short
BingX CAP-USDTlong	+0.0070%	4h	0.04625	long leg	—	$1.6M	—
BloFin CAP-USDT	+0.0092%	4h	0.04607	−0.389%	$363K	$63K	10x	as long as short
Lighter CAPshort	+0.0096%	1h	0.04623	−0.041%	$19K	$1K	3x
Aster CAPUSDT	+0.0100%	4h	0.04624	−0.022%	$25K	$52K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04625	0.000%	$8.7M	$8.2M	10x	as long as short
Gate CAP_USDT	+0.0100%	4h	0.04624	−0.022%	$319K	$1.2M	20x	as long as short
MEXC CAP_USDT	+0.0100%	4h	0.04624	−0.022%	$535K	$216K	20x	as long as short
KuCoin CAPUSDTM	+0.0100%	4h	0.04625	0.000%	$4.2M	$1.4M	10x	as long as short
Bitget CAPUSDT	+0.0100%	4h	0.04620	−0.108%	$1.0M	$612K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CAP	+0.0100%	4h	0.04601	−0.516%	$8K	$7K	—	as long as short
Orderly PERP_CAP_USDC_mythos	+0.0100%	4h	0.04619	−0.138%	$4K	$2K	10x	as long as short
Bybit CAPUSDT	+0.0109%	4h	0.04622	−0.065%	$4.4M	$3.9M	10x	as long as short
OKX CAP-USDT-SWAP	+0.0421%	4h	0.04625	0.000%	$1.9M	$7.2M	10x	as long as short