Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.021%

Price spread now: BingX against Lighter−0.576%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$407as in the Funding arb table

Net, price: spread back to 7d avg − costs−$595as in the Price arb table

costs, in and out, $10k−$5385.377% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.304%+$130 on $10k

Price spread, last 4 days (all we have)+0.639%+$64 · spread now −0.576%, 7d avg −0.003%

Together, before fees+1.942%+ Points / potential airdropLighter: Season 3 · farm board+$194 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: BingX is 0.573% cheaper against Lighter than usual: you would sell low and buy high, −$57 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02484	0.0096	pay 0.0012% / 1h	55m 18s	$114K	$3K	3x
Short	BingX STABLE-USDT	0.02470	0.0100	get 0.0050% / 4h	1h 55m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.576%Rate

Funding earned: $0.84
Price spread: −0.576% → −0.003%: −$57.26
Slippage, 4 orders: −$527.72
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$594.14
Costs to cover: 5.377%
Break-even: 4958.2 days

Slippage from Lighter: live order book, 18 min ago; BingX: live order book, 11 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 Lighter live order book, 18 min ago	185.38 bp	292.8 bp −$293	320.9 bp −$3,209	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	2.03 bp	30.2 bp −$30	83.1 bp −$831	735.5 bp −$73.5K	1309.9 bp −$655.0K

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	−0.0325%	4h	0.02471	−0.521%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0078%	4h	0.02470	−0.576%	$114K	$7K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02484	long leg	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02471	−0.535%	$871K	$234K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02471	−0.555%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02473	−0.463%	$1.5M	$799K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02470	−0.576%	$204K	$415K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02470	−0.576%	$171K	$86K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02471	−0.535%	$659K	$154K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02477	−0.294%	$174K	$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	0.02470	−0.576%	$291K	$116K	25x	as long as short
BingX STABLE-USDTshort	+0.0100%	4h	0.02470	−0.576%	—	$6.6M	—
Variational Omni STABLE	+0.0100%	4h	0.02474	−0.423%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02474	−0.419%	$2K	$651K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02471	−0.552%	$12K	$175K	10x	as long as short