Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against BingX+0.242%7-day average — · you sell dearer than you buy

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

Long on BingX 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 0.242% dearer against BingX than usual: you sell high and buy low, +$24 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	BingX NOT-USDC	0.0005039	0.0100	pay 0.0050% / 4h	2h 52m	—	$719K	—
Short	Lighter 1000NOT	0.0005051	0.0096	get 0.0012% / 1h	52m 42s	$11K	$5K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.242%Rate

Funding earned: −$0.84
Price spread: +0.242% → 0.000%: $24.21
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $13.37
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 6 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 BingX live order book, 6 min ago	3.97 bp	152.4 bp −$152	doesn't fit	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.

NOT 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
Variational Omni NOT	+0.0006%	4h	0.0005040	+0.029%	$66K	$34K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.274%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0070%	4h	0.0005042	+0.060%	$112K	$17K	50x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0005051	+0.242%	$11K	$5K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.020%	$368K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005044	+0.101%	$14K	$13K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005041	+0.042%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005034	−0.099%	$2.1M	$818K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005036	−0.060%	$610K	$582K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005033	−0.119%	$140K	$76K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005042	+0.060%	$1.4M	$479K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005038	−0.020%	$489K	$116K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005042	+0.060%	$664K	$381K	50x	as long as short
BingX NOT-USDClong	+0.0100%	4h	0.0005039	long leg	—	$719K	—
Extended kNOT-USD	+0.0104%	1h	0.0005043	+0.075%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.7070%	1h	0.0005082	+0.849%	$49K	$9K	10x	as long as short