Funding arb · Price arb /

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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 −0.004%

Price spread now: Lighter against KuCoin−0.149%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

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 0.149% cheaper against KuCoin than usual: you would sell low and buy high, −$15 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	KuCoin EDGEUSDTM	0.5918	0.0100	pay 0.0050% / 4h	2h 24m	$2.1M	$2.2M	50x
Short	Lighter EDGE	0.5909	0.0096	get 0.0012% / 1h	24m 02s	$44K	$18K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$0.84
Price spread: −0.149% → 0.000%: −$14.87
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$27.71
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: 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 KuCoin live order book, 8 min ago	5.07 bp	170.3 bp −$170	967.7 bp −$9,677	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.

EDGE on 16 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
Lighter EDGEshort	+0.0096%	1h	0.5909	−0.149%	$44K	$18K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5909	−0.152%	$7.1M	$3.4M	25x	as long as short
KuCoin EDGEUSDTMlong	+0.0100%	4h	0.5918	long leg	$2.1M	$2.2M	50x
Bitget EDGEUSDT	+0.0100%	4h	0.5916	−0.034%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5919	+0.012%	$58K	$105K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5914	−0.076%	$194K	$128K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5931	+0.220%	$6K	$2.0M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5924	+0.101%	$9K	$303K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5884	−0.575%	$4K	$620K	10x	as long as short
OKX EDGE-USDT-SWAP	+0.0494%	4h	0.5924	+0.101%	$3.7M	$5.8M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX EDGEUSDC	+0.0506%	4h	0.5937	+0.316%	$14.2M	$3.6M	30x	as long as short
Binance EDGEUSDT	+0.0511%	4h	0.5916	−0.027%	$10.1M	$10.4M	50x	as long as short
Extended EDGE-USD	+0.0512%	1h	0.5915	−0.043%	$27K	$194K	5x	as long as short
Aster EDGEUSDT	+0.0517%	4h	0.5923	+0.088%	$68K	$132K	5x	as long as short
MEXC EDGE_USDT	+0.0522%	4h	0.5917	−0.017%	$1.1M	$912K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0723%	4h	0.5916	−0.034%	$3K	—	10x	as long as short