Funding arb · Price arb /

CAP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Orderly against Lighter+0.102%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Orderly

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: Orderly is 0.102% dearer against Lighter than usual: you sell high and buy low, +$10 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	Lighter CAP	0.04616	0.0096	pay 0.0012% / 1h	8m 19s	$19K	$2K	3x
Short	Orderly PERP_CAP_USDC_mythos	0.04620	0.0100	get 0.0050% / 4h	2h 08m	$5K	$582	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.102%Rate

Funding earned: $0.84
Price spread: +0.102% → 0.000%: $10.18
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $5.02
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Orderly: 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 Lighter no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Lighter and Orderly: 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 13 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	−0.0766%	4h	0.04615	−0.013%	$4.4M	$1.4M	10x	as long as short
OKX CAP-USDT-SWAP	−0.0386%	4h	0.04623	+0.160%	$2.1M	$7.1M	10x	as long as short
Bitget CAPUSDT	−0.0028%	4h	0.04619	+0.074%	$1.0M	$588K	10x	as long as short
gTrade (Gains Network) CAP/USD	L 0.0000% / S 0.0000%	1h	0.04621	+0.115%	—	—	150x	as long as short
Lighter CAPlong	+0.0096%	1h	0.04616	long leg	$19K	$2K	3x
Aster CAPUSDT	+0.0100%	4h	0.04619	+0.067%	$26K	$66K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04622	+0.136%	$9.0M	$8.8M	10x	as long as short
Bybit CAPUSDT	+0.0100%	4h	0.04619	+0.074%	$4.5M	$4.1M	10x	as long as short
Gate CAP_USDT	+0.0100%	4h	0.04618	+0.052%	$328K	$1.2M	20x	as long as short
MEXC CAP_USDT	+0.0100%	4h	0.04619	+0.074%	$561K	$237K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAP-USDT	+0.0100%	4h	0.04618	+0.052%	—	$1.6M	—	as long as short
Variational Omni CAP	+0.0100%	4h	0.04604	−0.258%	$8K	$8K	—	as long as short
Orderly PERP_CAP_USDC_mythosshort	+0.0100%	4h	0.04620	+0.102%	$5K	$582	10x