Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Lighter against Binance+0.123%7-day average — · you sell dearer than you buy

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

Long on Binance 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 0.123% dearer against Binance than usual: you sell high and buy low, +$12 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	Binance FOGOUSDT	0.006876	0.0100	pay 0.0050% / 4h	53m 38s	$1.9M	$2.0M	50x
Short	Lighter FOGO	0.006884	0.0096	get 0.0012% / 1h	53m 38s	$11K	$11K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$0.84
Price spread: +0.123% → 0.000%: $12.33
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.49
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 11 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 Binance live order book, 11 min ago	2.21 bp	25.4 bp −$25	216.2 bp −$2,162	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.

FOGO 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
Lighter FOGOshort	+0.0096%	1h	0.006884	+0.123%	$11K	$11K	3x
Hyperliquid FOGO	+0.0100%	1h	0.006874	−0.022%	$717K	$306K	3x	as long as short
Binance FOGOUSDTlong	+0.0100%	4h	0.006876	long leg	$1.9M	$2.0M	50x
Bybit FOGOUSDT	+0.0100%	4h	0.006868	−0.109%	$758K	$182K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006879	+0.051%	$515K	$803K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006880	+0.065%	$109K	$47K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006876	+0.007%	$331K	$121K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006880	+0.065%	$286K	$93K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006870	−0.080%	$128K	$101K	25x	as long as short
BingX FOGO-USDT	+0.0100%	4h	0.006886	+0.152%	—	$1.2M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FOGO	+0.0100%	4h	0.006867	−0.123%	$96K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006860	−0.226%	$1K	$1.2M	20x	as long as short
Aster FOGOUSDT	+0.0175%	4h	0.006872	−0.057%	$12K	$13K	5x	as long as short