Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.014%

Price spread now: MEXC against Lighter−0.497%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$264as in the Funding arb table

Net, price: spread back to 7d avg − costs−$426as in the Price arb table

costs, in and out, $10k−$3833.830% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+1.186%+$119 on $10k

Price spread, last 4 days (all we have)+0.437%+$44 · spread now −0.497%, 7d avg −0.069%

Together, before fees+1.622%+ Points / potential airdropLighter: Season 3 · farm board+$162 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: MEXC is 0.428% cheaper against Lighter than usual: you would sell low and buy high, −$43 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02538	0.0096	pay 0.0012% / 1h	2m 20s	$117K	$3K	3x
Short	MEXC STABLE_USDT	0.02525	0.0100	get 0.0050% / 4h	2m 20s	$674K	$157K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.497%Rate

Funding earned: $0.84
Price spread: −0.497% → −0.069%: −$42.76
Slippage, 4 orders: −$375.05
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$424.96
Costs to cover: 3.830%
Break-even: 3548.4 days

Slippage from Lighter: live order book, 57 min ago; MEXC: live order book, 3 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, 57 min ago	140.00 bp	206.1 bp −$206	338.4 bp −$3,384	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.98 bp	14.7 bp −$15	48.5 bp −$485	225.3 bp −$22.5K	692.9 bp −$346.4K

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	0.02538	long leg	$117K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02525	−0.477%	$891K	$228K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02525	−0.516%	$19K	$6K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02524	−0.529%	$2.5M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02526	−0.453%	$1.5M	$781K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02523	−0.575%	$206K	$430K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02526	−0.457%	$176K	$89K	50x	as long as short
MEXC STABLE_USDTshort	+0.0100%	4h	0.02525	−0.497%	$674K	$157K	20x
KuCoin STABLEUSDTM	+0.0100%	4h	0.02529	−0.339%	$181K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02524	−0.536%	$295K	$115K	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	0.02525	−0.497%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02527	−0.411%	$148K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02523	−0.575%	$2K	$698K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02525	−0.513%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0123%	4h	0.02525	−0.497%	$115K	$7K	75x	as long as short