Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0736%/8h= −80.6% APRpaid last 24h −0.164%

Price spread now: BingX against Lighter−0.430%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$268as in the Funding arb table

Net, price: spread back to 7d avg − costs−$233as in the Price arb table

costs, in and out, $10k−$2022.018% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.662%−$66 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now −0.430%, 7d avg −0.116%

Together, before fees−0.851%+ Points / potential airdropLighter: Season 3 · farm board−$85 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and BingX is 0.314% cheaper against Lighter than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.116%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GRASS	0.4392	0.1040	pay 0.0130% / 1h	54m 44s	$697K	$502K	5x
Short	BingX GRASS-USDT	0.4373	0.0304	get 0.0152% / 4h	2h 54m	—	$7.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.430%Rate

Funding earned: −$154.56
Price spread: −0.430% → −0.116%: −$31.42
Slippage, 4 orders: −$191.83
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$387.81
Costs to cover: 2.018%
Break-even: never at this rate

Slippage from Lighter: live order book, 30 min ago; BingX: live order book, 13 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, 30 min ago	57.16 bp	98.5 bp −$99	797.8 bp −$7,978	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	5.80 bp	23.8 bp −$24	78.4 bp −$784	380.0 bp −$38.0K	721.0 bp −$360.5K

GRASS on 17 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
Reya GRASSRUSDPERP	−0.0115%	1h	0.4420	+0.637%	$664	—	15x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4372	−0.444%	$24.1M	$8.8M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4371	−0.476%	$3.1M	$5.3M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4370	−0.499%	$1.2M	$911K	50x	as long as short
KuCoin GRASSUSDTM	+0.0100%	4h	0.4374	−0.408%	$1.5M	$857K	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4369	−0.531%	$5.0M	$1.8M	75x	as long as short
Variational Omni GRASS	+0.0100%	4h	0.4331	−1.387%	$1.4M	$317K	—	as long as short
BloFin GRASS-USDT	+0.0266%	4h	0.4371	−0.476%	$553K	$248K	20x	as long as short
BingX GRASS-USDTshort	+0.0304%	4h	0.4373	−0.430%	—	$7.0M	—
MEXC GRASS_USDT	+0.0310%	4h	0.4378	−0.316%	$1.4M	$883K	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended GRASS-USD	+0.0312%	1h	0.4371	−0.480%	$215K	$817K	10x	as long as short
Binance GRASSUSDT	+0.0327%	4h	0.4379	−0.296%	$10.5M	$11.6M	75x	as long as short
Hyperliquid GRASS	+0.0487%	1h	0.4382	−0.230%	$16.2M	$2.2M	3x	as long as short
Lighter GRASSlong	+0.1040%	1h	0.4392	long leg	$697K	$502K	5x
Aster GRASSUSDT	+0.1540%	4h	0.4383	−0.202%	$67K	$109K	10x	as long as short
Kraken Futures PF_GRASSUSD	+0.1543%	1h	0.4363	−0.651%	$164K	$58K	20x	as long as short
Injective GRASS/USDC PERP	+0.5000%	1h	0.4267	−2.844%	$7	$23K	5.5x	as long as short