Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: Lighter against Gate+0.740%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,021as in the Funding arb table

Net, price: spread back to 7d avg − costs−$810as in the Price arb table

costs, in and out, $10k−$8798.791% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.422%−$142 on $10k

Price spread, last 4 days (all we have)−0.803%−$80 · spread now +0.740%, 7d avg +0.049%

Together, before fees−2.224%+ Points / potential airdropLighter: Season 3 · farm board−$222 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 0.691% dearer against Gate than usual: you sell high and buy low, +$69 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate STABLE_USDT	0.02472	0.0100	pay 0.0050% / 4h	2h 16m	$171K	$87K	50x
Short	Lighter STABLE	0.02490	0.0096	get 0.0012% / 1h	16m 32s	$114K	$3K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.740%Rate

Funding earned: −$0.84
Price spread: +0.740% → +0.049%: $69.13
Slippage, 4 orders: −$864.13
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$810.83
Costs to cover: 8.791%
Break-even: never at this rate

Slippage from Gate: live order book, 67 min ago; Lighter: live order book, 65 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 Gate live order book, 67 min ago	6.07 bp	153.4 bp −$153	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 65 min ago	177.29 bp	187.4 bp −$187	557.2 bp −$5,572	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	−0.0295%	4h	0.02475	+0.107%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0071%	4h	0.02474	+0.081%	$114K	$8K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02490	+0.740%	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02471	−0.044%	$871K	$235K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02470	−0.081%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02474	+0.077%	$1.5M	$818K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02474	+0.081%	$204K	$417K	20x	as long as short
Gate STABLE_USDTlong	+0.0100%	4h	0.02472	long leg	$171K	$87K	50x
MEXC STABLE_USDT	+0.0100%	4h	0.02472	0.000%	$659K	$158K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02478	+0.243%	$175K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02473	+0.040%	$292K	$117K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02473	+0.040%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02475	+0.136%	$145K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02475	+0.109%	$1K	$648K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02471	−0.048%	$12K	$175K	10x	as long as short