Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.006%

Price spread now: KuCoin against Lighter−0.371%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,048as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,216as in the Price arb table

costs, in and out, $10k−$1,17411.736% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.255%+$125 on $10k

Price spread, last 4 days (all we have)+0.499%+$50 · spread now −0.371%, 7d avg +0.050%

Together, before fees+1.754%+ Points / potential airdropLighter: Season 3 · farm board+$175 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: KuCoin is 0.421% cheaper against Lighter than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02456	0.0096	pay 0.0012% / 1h	56m 28s	$113K	$6K	3x
Short	KuCoin STABLEUSDTM	0.02447	0.0100	get 0.0050% / 4h	2h 56m	$178K	$29K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.371%Rate

Funding earned: $0.84
Price spread: −0.371% → +0.050%: −$42.08
Slippage, 4 orders: −$1,161.6
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$1,214.84
Costs to cover: 11.736%
Break-even: 10130.7 days

Slippage from Lighter: live order book, 38 min ago; KuCoin: live order book, 74 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, 38 min ago	127.76 bp	206.2 bp −$206	336.8 bp −$3,368	doesn't fit	doesn't fit
Sell KuCoin live order book, 74 min ago	14.21 bp	529.9 bp −$530	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	0.02456	long leg	$113K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02445	−0.456%	$859K	$180K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02444	−0.494%	$18K	$10K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02445	−0.452%	$2.5M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02447	−0.371%	$1.5M	$768K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02447	−0.371%	$207K	$420K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02444	−0.493%	$175K	$59K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02444	−0.493%	$585K	$159K	20x	as long as short
KuCoin STABLEUSDTMshort	+0.0100%	4h	0.02447	−0.371%	$178K	$29K	30x
Bitget STABLEUSDT	+0.0100%	4h	0.02446	−0.411%	$281K	$93K	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	0.02445	−0.452%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02443	−0.530%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02445	−0.472%	$1K	$899K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02443	−0.517%	$12K	$232K	10x	as long as short
BloFin STABLE-USDT	+0.0110%	4h	0.02443	−0.533%	$114K	$7K	75x	as long as short