Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.005%

Price spread now: Lighter against BingX+0.579%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$598as in the Funding arb table

Net, price: spread back to 7d avg − costs−$421as in the Price arb table

costs, in and out, $10k−$4744.736% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.241%−$124 on $10k

Price spread, last 4 days (all we have)−0.634%−$63 · spread now +0.579%, 7d avg +0.055%

Together, before fees−1.875%+ Points / potential airdropLighter: Season 3 · farm board−$187 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 0.524% dearer against BingX than usual: you sell high and buy low, +$52 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX STABLE-USDT	0.02436	0.0100	pay 0.0050% / 4h	1h 03m	—	$6.6M	—
Short	Lighter STABLE	0.02450	0.0096	get 0.0012% / 1h	3m 56s	$112K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.579%Rate

Funding earned: −$0.84
Price spread: +0.579% → +0.055%: $52.35
Slippage, 4 orders: −$463.57
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$422.06
Costs to cover: 4.736%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Lighter: live order book, 20 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 BingX live order book, 3 min ago	6.15 bp	27.8 bp −$28	79.6 bp −$796	595.1 bp −$59.5K	1045.0 bp −$522.5K
Sell Lighter live order book, 20 min ago	155.35 bp	185.4 bp −$185	572.0 bp −$5,720	doesn't fit	doesn't fit

STABLE on 15 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	0.02450	+0.579%	$112K	$10K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02434	−0.074%	$855K	$181K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02436	+0.009%	$18K	$10K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02433	−0.103%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02437	+0.041%	$1.5M	$757K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02435	−0.041%	$213K	$427K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02435	−0.041%	$174K	$60K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02433	−0.123%	$581K	$166K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02444	+0.328%	$179K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02437	+0.041%	$281K	$95K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDTlong	+0.0100%	4h	0.02436	long leg	—	$6.6M	—
Variational Omni STABLE	+0.0100%	4h	0.02440	+0.147%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02435	−0.025%	$1K	$926K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02433	−0.136%	$13K	$187K	10x	as long as short
BloFin STABLE-USDT	+0.0156%	4h	0.02438	+0.082%	$113K	$10K	75x	as long as short