Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.006%

Price spread now: SunX against Lighter−0.420%7-day average −0.061% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.400%+$140 on $10k

Price spread, last 4 days (all we have)+0.517%+$52 · spread now −0.420%, 7d avg −0.061%

Together, before fees+1.917%+ Points / potential airdropLighter: Season 3 · farm board+$192 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: SunX is 0.359% cheaper against Lighter than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of −0.061%.

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 42s	$113K	$6K	3x
Short	SunX STABLE-USDT	0.02442	0.0100	get 0.0050% / 4h	3h 11m	$2K	$895K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.420%Rate

Funding earned: $0.84
Price spread: −0.420% → −0.061%: −$35.87
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$43.03
Costs to cover: 0.080%
Break-even: 365.6 days

Slippage unknown: Lighter: live order book, 23 min ago; SunX: live order book, 71 min ago. Net counts fees only.

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 SunX live order book, 71 min ago	500.06 bp	doesn't fit	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
BloFin STABLE-USDT	+0.0042%	4h	0.02442	−0.420%	$114K	$7K	75x	as long as short
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-USDTshort	+0.0100%	4h	0.02442	−0.420%	$2K	$895K	20x
Extended STABLE-USD	+0.0104%	1h	0.02440	−0.501%	$12K	$134K	10x	as long as short