Funding arb · Price arb /

CC

all CC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0548%/8h= −60.0% APRpaid last 24h −0.228%

Price spread now: OKX against Lighter−0.314%7-day average −0.216% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1451.454% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.496%−$50 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.314%, 7d avg −0.216%

Together, before fees−0.466%+ Points / potential airdropLighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and OKX is 0.097% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.216%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CC	0.1179	0.0648	pay 0.0081% / 1h	38m 27s	$252K	$170K	5x
Short	OKX CC-USDT-SWAP	0.1175	0.0100	get 0.0050% / 4h	2h 38m	$2.5M	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.314%Rate

Funding earned: −$115.08
Price spread: −0.314% → −0.216%: −$9.75
Slippage, 4 orders: −$135.41
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$270.24
Costs to cover: 1.454%
Break-even: never at this rate

Slippage from Lighter: live order book, 57 min ago; OKX: live order book, 4 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, 57 min ago	13.13 bp	75.2 bp −$75	375.9 bp −$3,759	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.70 bp	29.3 bp −$29	doesn't fit	doesn't fit	doesn't fit

CC on 19 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
Bybit CCUSDT	−0.0503%	4h	0.1174	−0.356%	$10.8M	$3.8M	25x	as long as short
MEXC CC_USDT	−0.0484%	4h	0.1173	−0.450%	$1.8M	$332K	100x	as long as short
Injective CC/USDC PERP	+0.0033%	1h	0.1180	+0.110%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERP	+0.0083%	8h	0.1174	−0.436%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1176	−0.221%	$5.5M	$1.3M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1174	−0.363%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1173	−0.450%	$11.0M	$11.8M	75x	as long as short
OKX CC-USDT-SWAPshort	+0.0100%	4h	0.1175	−0.314%	$2.5M	$3.1M	20x
Gate CC_USDT	+0.0100%	4h	0.1173	−0.467%	$364K	$206K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1175	−0.288%	$484K	$104K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1176	−0.271%	$920K	$770K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1174	−0.399%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1173	−0.441%	$15K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1175	−0.342%	$599K	$56K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1176	−0.220%	$81K	$2.6M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1173	−0.486%	$6K	$33K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1172	−0.602%	$593K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0450% / S −0.0241%	1h	0.1174	−0.356%	$44K	—	50x	as long as short
Lighter CClong	+0.0648%	1h	0.1179	long leg	$252K	$170K	5x