Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: KuCoin against Lighter−0.388%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 KuCoin

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: KuCoin is 0.388% cheaper against Lighter than usual: you would sell low and buy high, −$39 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	0.0005106	0.0096	pay 0.0012% / 1h	37m 53s	$11K	$5K	3x
Short	KuCoin NOTUSDTM	0.0005086	0.0100	get 0.0050% / 4h	3h 37m	$465K	$136K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.388%Rate

Funding earned: $0.84
Price spread: −0.388% → 0.000%: −$38.78
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.94
Costs to cover: 0.120%
Break-even: 423.2 days

Slippage unknown: Lighter: no order-book sample; KuCoin: live order book, 14 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 KuCoin live order book, 14 min ago	10.83 bp	91.4 bp −$91	386.2 bp −$3,862	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
Kraken Futures PF_NOTUSD	−0.0333%	1h	0.0005094	−0.227%	$50K	$10K	10x	as long as short
Variational Omni NOT	−0.0101%	4h	0.0005094	−0.237%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.540%	$1K	$13K	5.5x	as long as short
Gate NOT_USDT	+0.0042%	4h	0.0005095	−0.212%	$142K	$79K	50x	as long as short
Bybit NOTUSDT	+0.0073%	4h	0.0005087	−0.368%	$2.1M	$828K	25x	as long as short
Lighter 1000NOTlong	+0.0096%	1h	0.0005106	long leg	$11K	$5K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005100	−0.114%	$373K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005093	−0.259%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005093	−0.251%	$2.1M	$3.1M	50x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005097	−0.172%	$633K	$612K	20x	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	0.0005093	−0.251%	$1.4M	$461K	200x	as long as short
KuCoin NOTUSDTMshort	+0.0100%	4h	0.0005086	−0.388%	$465K	$136K	50x
Bitget NOTUSDT	+0.0100%	4h	0.0005098	−0.153%	$669K	$392K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005094	−0.231%	—	$721K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005092	−0.279%	$4K	$491	5x	as long as short
BloFin NOT-USDT	+0.0117%	4h	0.0005099	−0.133%	$112K	$17K	50x	as long as short