Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h −0.008%

Price spread now: Lighter against BloFin+0.172%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.172% dearer against BloFin than usual: you sell high and buy low: +$17 more if the spread 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	BloFin NOT-USDT	0.0005013	0.0078	pay 0.0039% / 4h	1h 36m	$108K	$18K	50x
Short	Lighter 1000NOT	0.0005022	0.0096	get 0.0012% / 1h	36m 45s	$11K	$4K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.172%Rate

Funding earned: $3.86
Price spread: +0.172% → 0.000%: $17.16
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $9.02
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: BloFin: live order book, 34 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 BloFin live order book, 34 min ago	9.93 bp	19.6 bp −$20	64.4 bp −$644	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	−0.0012%	4h	0.0005022	+0.172%	$71K	$38K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−2.773%	$1K	$13K	5.5x	as long as short
KuCoin NOTUSDTM	+0.0068%	4h	0.0005012	−0.020%	$476K	$136K	50x	as long as short
BloFin NOT-USDTlong	+0.0078%	4h	0.0005013	long leg	$108K	$18K	50x
Lighter 1000NOTshort	+0.0096%	1h	0.0005022	+0.172%	$11K	$4K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005010	−0.060%	$337K	$69K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005019	+0.116%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005014	+0.024%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005009	−0.080%	$2.1M	$887K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005014	+0.020%	$638K	$705K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005020	+0.140%	$139K	$57K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005015	+0.040%	$1.3M	$437K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005021	+0.160%	$671K	$502K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005013	0.000%	—	$731K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005015	+0.035%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.1948%	1h	0.0005020	+0.147%	$49K	$9K	10x	as long as short