Funding arb · Price arb /

RIVER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.204%

Price spread now: KuCoin against Lighter−0.079%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 0.079% cheaper against Lighter than usual: you would sell low and buy high, −$8 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 RIVER	1.2730	0.0096	pay 0.0012% / 1h	24m 07s	$41K	$17K	3x
Short	KuCoin RIVERUSDTM	1.2720	0.0100	get 0.0050% / 4h	2h 24m	$2.5M	$2.0M	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 −0.079%Rate

Funding earned: $0.84
Price spread: −0.079% → 0.000%: −$7.86
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$19.02
Costs to cover: 0.120%
Break-even: 165.5 days

Slippage unknown: Lighter: no order-book sample; KuCoin: live order book, 3 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, 3 min ago	3.93 bp	28.2 bp −$28	540.2 bp −$5,402	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.

RIVER 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
Lighter RIVERlong	+0.0096%	1h	1.2730	long leg	$41K	$17K	3x
OKX RIVER-USDT-SWAP	+0.0100%	4h	1.2720	−0.079%	$2.0M	$3.8M	20x	as long as short
KuCoin RIVERUSDTMshort	+0.0100%	4h	1.2720	−0.079%	$2.5M	$2.0M	50x
SunX RIVER-USDT	+0.0100%	4h	1.2700	−0.236%	$1K	$943K	20x	as long as short
HTX RIVER-USDT	+0.0100%	4h	1.2720	−0.079%	$49K	$95K	20x	as long as short
Gate RIVER_USDT	+0.0146%	4h	1.2700	−0.236%	$421K	$108K	20x	as long as short
Bitget RIVERUSDT	+0.0170%	4h	1.2730	0.000%	$3.0M	$1.9M	20x	as long as short
GRVT RIVER_USDT_Perp	+0.0238%	4h	1.2705	−0.194%	$31K	$429K	10x	as long as short
Kraken Futures PF_RIVERUSD	+0.0477%	1h	1.2756	+0.201%	$56K	$58K	10x	as long as short
BloFin RIVER-USDT	+0.0586%	4h	1.2680	−0.393%	$421K	$35K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster RIVERUSDT	+0.0587%	4h	1.2710	−0.154%	$73K	$31K	10x	as long as short
MEXC RIVER_USDT	+0.0608%	4h	1.2730	0.000%	$3.5M	$1.5M	50x	as long as short
Binance RIVERUSDT	+0.0617%	4h	1.2730	0.000%	$6.1M	$10.3M	50x	as long as short
Variational Omni RIVER	+0.1140%	4h	1.2730	−0.003%	$43K	$20K	—	as long as short
BingX RIVER-USDT	+0.1596%	4h	1.2730	0.000%	—	$6.8M	—	as long as short
Bybit RIVERUSDT	+0.1698%	4h	1.2720	−0.079%	$3.8M	$1.7M	25x	as long as short