Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.006%

Price spread now: Bitget against Lighter−0.379%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$423as in the Funding arb table

Net, price: spread back to 7d avg − costs−$573as in the Price arb table

costs, in and out, $10k−$5415.409% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.175%+$118 on $10k

Price spread, last 4 days (all we have)+0.316%+$32 · spread now −0.379%, 7d avg −0.055%

Together, before fees+1.491%+ Points / potential airdropLighter: Season 3 · farm board+$149 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: Bitget is 0.324% cheaper against Lighter than usual: you would sell low and buy high, −$32 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	Lighter STABLE	0.02506	0.0096	pay 0.0012% / 1h	20m 04s	$115K	$6K	3x
Short	Bitget STABLEUSDT	0.02496	0.0100	get 0.0050% / 4h	1h 20m	$287K	$92K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.379%Rate

Funding earned: $0.84
Price spread: −0.379% → −0.055%: −$32.43
Slippage, 4 orders: −$528.93
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$572.52
Costs to cover: 5.409%
Break-even: 4778.0 days

Slippage from Lighter: live order book, 24 min ago; Bitget: live order book, 35 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, 24 min ago	148.77 bp	236.2 bp −$236	349.1 bp −$3,491	doesn't fit	doesn't fit
Sell Bitget live order book, 35 min ago	2.01 bp	78.9 bp −$79	241.0 bp −$2,410	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
BloFin STABLE-USDT	+0.0088%	4h	0.02492	−0.539%	$118K	$7K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02506	long leg	$115K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02494	−0.471%	$877K	$179K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02493	−0.483%	$19K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02494	−0.474%	$2.6M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02497	−0.347%	$1.5M	$730K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02495	−0.419%	$201K	$382K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02494	−0.459%	$174K	$57K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02493	−0.499%	$617K	$168K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02499	−0.259%	$185K	$29K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDTshort	+0.0100%	4h	0.02496	−0.379%	$287K	$92K	25x
BingX STABLE-USDT	+0.0100%	4h	0.02496	−0.379%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02495	−0.437%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02493	−0.487%	$2K	$831K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02493	−0.497%	$14K	$138K	10x	as long as short