Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.014%

Price spread now: Lighter against BloFin+0.575%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$655as in the Funding arb table

Net, price: spread back to 7d avg − costs−$484as in the Price arb table

costs, in and out, $10k−$5365.362% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.188%−$119 on $10k

Price spread, last 3 days (all we have)−0.611%−$61 · spread now +0.575%, 7d avg +0.056%

Together, before fees−1.798%+ Points / potential airdropLighter: Season 3 · farm board−$180 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.518% dearer against BloFin than usual: you sell high and buy low (spread +0.575% now, against its 7-day average of +0.056%): +$52 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 36 days. At the pace of the last 7 days (−1.188% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin STABLE-USDT	0.02470	0.0144	pay 0.0072% / 4h	1h 43m	$113K	$7K	75x
Short	Lighter STABLE	0.02484	0.0096	get 0.0012% / 1h	43m 12s	$114K	$3K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.575%Rate

Funding earned: −$10.18
Price spread: +0.575% → +0.056%: $51.85
Slippage, 4 orders: −$524.18
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$494.52
Costs to cover: 5.362%
Break-even: never at this rate

Slippage from BloFin: live order book, 29 min ago; Lighter: live order book, 30 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 BloFin live order book, 29 min ago	4.05 bp	30.9 bp −$31	71.1 bp −$711	doesn't fit	doesn't fit
Sell Lighter live order book, 30 min ago	185.38 bp	194.4 bp −$194	568.8 bp −$5,688	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
Aster STABLEUSDT	−0.0276%	4h	0.02470	−0.019%	$19K	$7K	20x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02484	+0.575%	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02471	+0.040%	$871K	$234K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02470	+0.017%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02471	+0.040%	$1.5M	$800K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02470	0.000%	$204K	$414K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02472	+0.081%	$172K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02470	0.000%	$659K	$155K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02475	+0.202%	$174K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02471	+0.040%	$292K	$117K	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-USDT	+0.0100%	4h	0.02471	+0.040%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02471	+0.051%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02473	+0.126%	$1K	$654K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02470	−0.018%	$12K	$175K	10x	as long as short
BloFin STABLE-USDTlong	+0.0144%	4h	0.02470	long leg	$113K	$7K	75x