Funding arb · Price arb /

FOGO

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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: Bybit against Lighter−0.216%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Bybit

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: Bybit is 0.216% cheaper against Lighter than usual: you would sell low and buy high, −$22 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 FOGO	0.006944	0.0096	pay 0.0012% / 1h	28m 55s	$11K	$9K	3x
Short	Bybit FOGOUSDT	0.006929	0.0100	get 0.0050% / 4h	2h 28m	$763K	$182K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.216%Rate

Funding earned: $0.84
Price spread: −0.216% → 0.000%: −$21.6
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.76
Costs to cover: 0.110%
Break-even: 271.7 days

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 36 min ago. 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 Bybit live order book, 36 min ago	7.20 bp	77.5 bp −$77	doesn't fit	doesn't fit	doesn't fit

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 FOGOlong	+0.0096%	1h	0.006944	long leg	$11K	$9K	3x
Hyperliquid FOGO	+0.0100%	1h	0.006932	−0.173%	$709K	$306K	3x	as long as short
Aster FOGOUSDT	+0.0100%	4h	0.006938	−0.090%	$13K	$13K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006939	−0.076%	$1.9M	$2.0M	50x	as long as short
Bybit FOGOUSDTshort	+0.0100%	4h	0.006929	−0.216%	$763K	$182K	50x
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006935	−0.130%	$523K	$848K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006940	−0.058%	$110K	$46K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006938	−0.086%	$321K	$124K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006940	−0.058%	$286K	$93K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006930	−0.202%	$131K	$90K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006939	−0.072%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006931	−0.181%	$97K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006950	+0.086%	$2K	$1.2M	20x	as long as short