Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against MEXC+0.175%7-day average — · you sell dearer than you buy

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

Long on MEXC 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 0.175% dearer against MEXC than usual: you sell high and buy low, +$17 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	MEXC FOGO_USDT	0.006869	0.0100	pay 0.0050% / 4h	43m 03s	$316K	$122K	50x
Short	Lighter FOGO	0.006881	0.0096	get 0.0012% / 1h	43m 03s	$11K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.175%Rate

Funding earned: −$0.84
Price spread: +0.175% → 0.000%: $17.47
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $12.63
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 62 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 MEXC live order book, 62 min ago	0.72 bp	22.1 bp −$22	67.2 bp −$672	223.2 bp −$22.3K	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	0.006881	+0.175%	$11K	$10K	3x
Hyperliquid FOGO	+0.0100%	1h	0.006865	−0.058%	$699K	$299K	3x	as long as short
Aster FOGOUSDT	+0.0100%	4h	0.006877	+0.117%	$12K	$12K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006874	+0.072%	$1.8M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006869	0.000%	$757K	$191K	50x	as long as short
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006867	−0.029%	$524K	$859K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006860	−0.131%	$109K	$51K	50x	as long as short
MEXC FOGO_USDTlong	+0.0100%	4h	0.006869	long leg	$316K	$122K	50x
KuCoin FOGOUSDTM	+0.0100%	4h	0.006880	+0.160%	$282K	$94K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006870	+0.015%	$131K	$71K	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	0.006868	−0.015%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006855	−0.208%	$96K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006860	−0.131%	$1K	$1.2M	20x	as long as short