Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.006%

Price spread now: Lighter against Binance+0.538%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$559as in the Funding arb table

Net, price: spread back to 7d avg − costs−$396as in the Price arb table

costs, in and out, $10k−$4414.409% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.180%−$118 on $10k

Price spread, last 4 days (all we have)−0.493%−$49 · spread now +0.538%, 7d avg +0.086%

Together, before fees−1.673%+ Points / potential airdropLighter: Season 3 · farm board−$167 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.452% dearer against Binance than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of +0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance STABLEUSDT	0.02489	0.0100	pay 0.0050% / 4h	2h 32m	$2.5M	$2.9M	75x
Short	Lighter STABLE	0.02502	0.0096	get 0.0012% / 1h	32m 20s	$115K	$8K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.538%Rate

Funding earned: −$0.84
Price spread: +0.538% → +0.086%: $45.18
Slippage, 4 orders: −$430.91
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$396.57
Costs to cover: 4.409%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Lighter: live order book, 17 min ago.

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 Binance live order book, 3 min ago	2.01 bp	31.2 bp −$31	109.4 bp −$1,094	doesn't fit	doesn't fit
Sell Lighter live order book, 17 min ago	144.55 bp	154.6 bp −$155	560.7 bp −$5,607	doesn't fit	doesn't fit

STABLE on 14 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 STABLEshort	+0.0096%	1h	0.02502	+0.538%	$115K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02489	+0.024%	$878K	$202K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02488	−0.009%	$19K	$7K	20x	as long as short
Binance STABLEUSDTlong	+0.0100%	4h	0.02489	long leg	$2.5M	$2.9M	75x
Bybit STABLEUSDT	+0.0100%	4h	0.02491	+0.092%	$1.5M	$759K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02490	+0.052%	$201K	$417K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02489	+0.012%	$173K	$70K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02488	−0.028%	$609K	$175K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02490	+0.052%	$184K	$30K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02489	+0.012%	$291K	$96K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02489	+0.012%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02492	+0.117%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02488	−0.036%	$2K	$811K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02488	−0.014%	$12K	$146K	10x	as long as short