Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.008%

Price spread now: Gate against Lighter−0.459%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$556as in the Funding arb table

Net, price: spread back to 7d avg − costs−$737as in the Price arb table

costs, in and out, $10k−$6976.971% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+1.415%+$141 on $10k

Price spread, last 4 days (all we have)+0.451%+$45 · spread now −0.459%, 7d avg −0.065%

Together, before fees+1.866%+ Points / potential airdropLighter: Season 3 · farm board+$187 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: Gate is 0.394% cheaper against Lighter than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02527	0.0096	pay 0.0012% / 1h	44m 04s	$116K	$8K	3x
Short	Gate STABLE_USDT	0.02515	0.0100	get 0.0050% / 4h	3h 44m	$175K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.459%Rate

Funding earned: $0.84
Price spread: −0.459% → −0.065%: −$39.39
Slippage, 4 orders: −$682.12
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$735.68
Costs to cover: 6.971%
Break-even: 6137.6 days

Slippage from Lighter: live order book, 11 min ago; Gate: live order book, 22 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, 11 min ago	114.44 bp	344.4 bp −$344	426.1 bp −$4,261	doesn't fit	doesn't fit
Sell Gate live order book, 22 min ago	5.95 bp	107.0 bp −$107	doesn't fit	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
Lighter STABLElong	+0.0096%	1h	0.02527	long leg	$116K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02516	−0.439%	$887K	$221K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02516	−0.428%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02516	−0.427%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02518	−0.340%	$1.5M	$789K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02515	−0.459%	$206K	$445K	20x	as long as short
Gate STABLE_USDTshort	+0.0100%	4h	0.02515	−0.459%	$175K	$71K	50x
MEXC STABLE_USDT	+0.0100%	4h	0.02515	−0.459%	$625K	$168K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02521	−0.222%	$181K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02514	−0.499%	$294K	$118K	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	0.02515	−0.459%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02515	−0.455%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02514	−0.487%	$2K	$765K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02515	−0.465%	$12K	$177K	10x	as long as short
BloFin STABLE-USDT	+0.0145%	4h	0.02518	−0.340%	$115K	$8K	75x	as long as short