Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.006%

Price spread now: BloFin against Lighter−0.170%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 BloFin

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.170% cheaper against Lighter than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000NOT	0.0005051	0.0096	pay 0.0012% / 1h	10m 33s	$11K	$5K	3x
Short	BloFin NOT-USDT	0.0005042	0.0048	get 0.0024% / 4h	1h 10m	$110K	$17K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.170%Rate

Funding earned: −$10.11
Price spread: −0.170% → 0.000%: −$17.03
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$39.13
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; BloFin: live order book, 62 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 BloFin live order book, 62 min ago	1.99 bp	18.5 bp −$18	53.8 bp −$538	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	−0.0151%	4h	0.0005030	−0.410%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.497%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDTshort	+0.0048%	4h	0.0005042	−0.170%	$110K	$17K	50x
Lighter 1000NOTlong	+0.0096%	1h	0.0005051	long leg	$11K	$5K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005040	−0.210%	$369K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005039	−0.220%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005040	−0.208%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005034	−0.329%	$2.1M	$815K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005034	−0.329%	$612K	$584K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005038	−0.249%	$140K	$79K	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	0.0005039	−0.230%	$1.4M	$471K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005034	−0.329%	$467K	$133K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005042	−0.170%	$662K	$387K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005038	−0.249%	—	$724K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005039	−0.239%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.6208%	1h	0.0005035	−0.310%	$49K	$10K	10x	as long as short