Funding arb · Price arb /

CAP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.083%

Price spread now: Lighter against Bybit−0.022%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.022% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CAPUSDT	0.04646	0.0100	pay 0.0050% / 4h	30m 28s	$4.5M	$4.2M	10x
Short	Lighter CAP	0.04645	0.0096	get 0.0012% / 1h	30m 28s	$19K	$2K	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 −0.022%Rate

Funding earned: −$0.84
Price spread: −0.022% → 0.000%: −$2.15
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.99
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 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 Bybit live order book, 2 min ago	3.24 bp	41.2 bp −$41	doesn't fit	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
KuCoin CAPUSDTM	−0.0228%	4h	0.04643	−0.065%	$4.4M	$1.4M	10x	as long as short
gTrade (Gains Network) CAP/USD	L 0.0000% / S 0.0000%	1h	0.04637	−0.184%	—	—	150x	as long as short
BingX CAP-USDT	+0.0070%	4h	0.04647	+0.022%	—	$1.6M	—	as long as short
Lighter CAPshort	+0.0096%	1h	0.04645	−0.022%	$19K	$2K	3x
Aster CAPUSDT	+0.0100%	4h	0.04643	−0.064%	$26K	$67K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04648	+0.043%	$8.9M	$9.0M	10x	as long as short
Bybit CAPUSDTlong	+0.0100%	4h	0.04646	long leg	$4.5M	$4.2M	10x
OKX CAP-USDT-SWAP	+0.0100%	4h	0.04648	+0.043%	$2.0M	$7.3M	10x	as long as short
Gate CAP_USDT	+0.0100%	4h	0.04644	−0.043%	$325K	$1.2M	20x	as long as short
MEXC CAP_USDT	+0.0100%	4h	0.04646	0.000%	$531K	$232K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CAPUSDT	+0.0100%	4h	0.04646	0.000%	$1.0M	$598K	10x	as long as short
Variational Omni CAP	+0.0100%	4h	0.04641	−0.104%	$8K	$8K	—	as long as short
Orderly PERP_CAP_USDC_mythos	+0.0100%	4h	0.04643	−0.073%	$4K	$1K	10x	as long as short
BloFin CAP-USDT	+0.0100%	4h	0.04646	0.000%	$372K	$60K	10x	as long as short