Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h +0.004%

Price spread now: BloFin against Lighter−0.420%90s7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$297as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$4124.119% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.145%+$114 on $10k

Price spread, last 4 days (all we have)+0.456%+$46 · spread now −0.420%, 7d avg −0.095%

Together, before fees+1.600%+ Points / potential airdropLighter: Season 3 · farm board+$160 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BloFin is 0.325% cheaper against Lighter than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.095%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.145%, so the current rate has only just turned against you. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02452	0.0096	pay 0.0012% / 1h	11m 40s	$113K	$6K	3x
Short	BloFin STABLE-USDT	0.02442	0.0042	get 0.0021% / 4h	3h 11m	$114K	$7K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.420%Rate

Funding earned: −$11.4
Price spread: −0.420% → −0.095%: −$32.52
Slippage, 4 orders: −$399.86
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$455.78
Costs to cover: 4.119%
Break-even: never at this rate

Slippage from Lighter: live order book, 23 min ago; BloFin: live order book, 7 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, 23 min ago	127.76 bp	206.2 bp −$206	336.8 bp −$3,368	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	6.14 bp	33.6 bp −$34	75.7 bp −$757	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-USDTshort	+0.0042%	4h	0.02442	−0.420%	$114K	$7K	75x
Lighter STABLElong	+0.0096%	1h	0.02452	long leg	$113K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02440	−0.514%	$857K	$182K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02440	−0.502%	$18K	$10K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02440	−0.482%	$2.5M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02444	−0.338%	$1.5M	$769K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02437	−0.624%	$201K	$415K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02439	−0.542%	$174K	$60K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02440	−0.502%	$584K	$162K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02444	−0.338%	$177K	$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 STABLEUSDT	+0.0100%	4h	0.02441	−0.461%	$281K	$93K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02440	−0.502%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02444	−0.356%	$143K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02442	−0.420%	$2K	$895K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02440	−0.501%	$12K	$134K	10x	as long as short