Funding arb · Price arb /

STABLE

all STABLE markets

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 Bitget+0.507%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$650as in the Funding arb table

Net, price: spread back to 7d avg − costs−$486as in the Price arb table

costs, in and out, $10k−$5315.312% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.186%−$119 on $10k

Price spread, last 4 days (all we have)−0.513%−$51 · spread now +0.507%, 7d avg +0.050%

Together, before fees−1.699%+ Points / potential airdropLighter: Season 3 · farm board−$170 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 0.457% dearer against Bitget than usual: you sell high and buy low, +$46 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget STABLEUSDT	0.02487	0.0100	pay 0.0050% / 4h	2h 33m	$291K	$96K	25x
Short	Lighter STABLE	0.02500	0.0096	get 0.0012% / 1h	33m 18s	$115K	$8K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.507%Rate

Funding earned: −$0.84
Price spread: +0.507% → +0.050%: $45.67
Slippage, 4 orders: −$519.18
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$486.35
Costs to cover: 5.312%
Break-even: never at this rate

Slippage from Bitget: live order book, 27 min ago; Lighter: live order book, 16 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 Bitget live order book, 27 min ago	4.01 bp	81.2 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 16 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	0.02500	+0.507%	$115K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02486	−0.044%	$876K	$202K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02487	0.000%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02485	−0.069%	$2.5M	$3.0M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02488	+0.040%	$1.5M	$760K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02488	+0.040%	$201K	$417K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02488	+0.040%	$173K	$70K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02485	−0.080%	$608K	$175K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02494	+0.281%	$185K	$30K	30x	as long as short
Bitget STABLEUSDTlong	+0.0100%	4h	0.02487	long leg	$291K	$96K	25x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02487	0.000%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02492	+0.186%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02484	−0.113%	$2K	$813K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02485	−0.067%	$12K	$146K	10x	as long as short