Funding arb · Price arb /

CAP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0313%/8h= −34.3% APRpaid last 24h +0.076%

Price spread now: Lighter against OKX+0.091%7-day average — · you sell dearer than you buy

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

Long on OKX 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

The price spread pays, funding is against you. Lighter is 0.091% dearer against OKX than usual: you sell high and buy low (spread +0.091% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX CAP-USDT-SWAP	0.04610	0.0409	pay 0.0205% / 4h	58m 47s	$1.9M	$7.2M	10x
Short	Lighter CAP	0.04614	0.0096	get 0.0012% / 1h	58m 47s	$19K	$1K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$65.82
Price spread: +0.091% → 0.000%: $9.11
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$66.71
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	1.08 bp	17.0 bp −$17	97.9 bp −$979	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	0.04608	−0.052%	—	—	150x	as long as short
BingX CAP-USDT	+0.0070%	4h	0.04611	+0.022%	—	$1.6M	—	as long as short
Lighter CAPshort	+0.0096%	1h	0.04614	+0.091%	$19K	$1K	3x
Aster CAPUSDT	+0.0100%	4h	0.04617	+0.154%	$25K	$52K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04612	+0.043%	$8.7M	$8.2M	10x	as long as short
Gate CAP_USDT	+0.0100%	4h	0.04609	−0.022%	$318K	$1.1M	20x	as long as short
MEXC CAP_USDT	+0.0100%	4h	0.04615	+0.108%	$534K	$212K	20x	as long as short
KuCoin CAPUSDTM	+0.0100%	4h	0.04615	+0.108%	$4.2M	$1.4M	10x	as long as short
Bitget CAPUSDT	+0.0100%	4h	0.04612	+0.043%	$1.0M	$610K	10x	as long as short
Variational Omni CAP	+0.0100%	4h	0.04612	+0.048%	$8K	$7K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_CAP_USDC_mythos	+0.0100%	4h	0.04608	−0.035%	$4K	$2K	10x	as long as short
Bybit CAPUSDT	+0.0126%	4h	0.04608	−0.043%	$4.4M	$3.9M	10x	as long as short
BloFin CAP-USDT	+0.0142%	4h	0.04607	−0.065%	$364K	$64K	10x	as long as short
OKX CAP-USDT-SWAPlong	+0.0409%	4h	0.04610	long leg	$1.9M	$7.2M	10x