Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Lighter−0.217%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 BingX

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: BingX is 0.217% 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 1000NOT	0.0005105	0.0096	pay 0.0012% / 1h	16m 14s	$11K	$4K	3x
Short	BingX NOT-USDC	0.0005094	0.0100	get 0.0050% / 4h	1h 16m	—	$723K	—

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 −0.217%Rate

Funding earned: $0.84
Price spread: −0.217% → 0.000%: −$21.74
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$30.9
Costs to cover: 0.100%
Break-even: 264.5 days

Slippage unknown: Lighter: no order-book sample; BingX: live order book, 42 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 BingX live order book, 42 min ago	4.93 bp	146.7 bp −$147	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.

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	−0.0343%	4h	0.0005087	−0.353%	$72K	$39K	—	as long as short
KuCoin NOTUSDTM	−0.0234%	4h	0.0005090	−0.296%	$469K	$130K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.527%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0052%	4h	0.0005093	−0.237%	$112K	$17K	50x	as long as short
Lighter 1000NOTlong	+0.0096%	1h	0.0005105	long leg	$11K	$4K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005090	−0.296%	$371K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005096	−0.180%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005094	−0.210%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005087	−0.355%	$2.1M	$857K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005092	−0.257%	$637K	$656K	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	0.0005087	−0.355%	$144K	$68K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005095	−0.198%	$1.3M	$441K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005099	−0.119%	$676K	$411K	50x	as long as short
BingX NOT-USDCshort	+0.0100%	4h	0.0005094	−0.217%	—	$723K	—
Extended kNOT-USD	+0.0104%	1h	0.0005096	−0.187%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSD	+0.1943%	1h	0.0005093	−0.245%	$50K	$9K	10x	as long as short