Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against MEXC+0.215%7-day average — · you sell dearer than you buy

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

Long on MEXC 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.215% dearer against MEXC than usual: you sell high and buy low, +$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	MEXC NOT_USDT	0.0005016	0.0100	pay 0.0050% / 4h	2h 16m	$1.3M	$450K	200x
Short	Lighter 1000NOT	0.0005027	0.0096	get 0.0012% / 1h	16m 42s	$11K	$4K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.215%Rate

Funding earned: −$0.84
Price spread: +0.215% → 0.000%: $21.53
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $16.69
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 5 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 MEXC live order book, 5 min ago	3.99 bp	9.5 bp −$10	36.4 bp −$364	89.9 bp −$8,988	110.1 bp −$55.1K
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	−0.0104%	4h	0.0004998	−0.356%	$71K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0030%	4h	0.0005014	−0.040%	$478K	$136K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−2.831%	$1K	$13K	5.5x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0005027	+0.215%	$11K	$4K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005010	−0.120%	$337K	$68K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005024	+0.167%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005019	+0.060%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005015	−0.020%	$2.1M	$893K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005018	+0.040%	$638K	$703K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005020	+0.080%	$138K	$73K	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_USDTlong	+0.0100%	4h	0.0005016	long leg	$1.3M	$450K	200x
Bitget NOTUSDT	+0.0100%	4h	0.0005021	+0.100%	$672K	$499K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005023	+0.140%	—	$729K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005017	+0.012%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0114%	4h	0.0005019	+0.060%	$109K	$18K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.1683%	1h	0.0005033	+0.332%	$49K	$9K	10x	as long as short