Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.006%

Price spread now: Lighter against MEXC+0.501%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$534as in the Funding arb table

Net, price: spread back to 7d avg − costs−$378as in the Price arb table

costs, in and out, $10k−$4194.187% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.157%−$116 on $10k

Price spread, last 4 days (all we have)−0.426%−$43 · spread now +0.501%, 7d avg +0.091%

Together, before fees−1.582%+ Points / potential airdropLighter: Season 3 · farm board−$158 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: Lighter is 0.410% dearer against MEXC than usual: you sell high and buy low, +$41 on $10k if it goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC STABLE_USDT	0.02457	0.0100	pay 0.0050% / 4h	51m 12s	$593K	$160K	20x
Short	Lighter STABLE	0.02469	0.0096	get 0.0012% / 1h	51m 12s	$113K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.501%Rate

Funding earned: −$0.84
Price spread: +0.501% → +0.091%: $41.01
Slippage, 4 orders: −$410.72
Fee MEXC: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$378.56
Costs to cover: 4.187%
Break-even: never at this rate

Slippage from MEXC: live order book, 64 min ago; Lighter: live order book, 53 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 MEXC live order book, 64 min ago	4.02 bp	12.0 bp −$12	36.2 bp −$362	228.0 bp −$22.8K	525.6 bp −$262.8K
Sell Lighter live order book, 53 min ago	148.77 bp	158.1 bp −$158	554.7 bp −$5,547	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 STABLEshort	+0.0096%	1h	0.02469	+0.501%	$113K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02454	−0.106%	$862K	$186K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02455	−0.076%	$18K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02455	−0.081%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02458	+0.049%	$1.5M	$772K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02456	−0.041%	$202K	$382K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02458	+0.041%	$173K	$57K	50x	as long as short
MEXC STABLE_USDTlong	+0.0100%	4h	0.02457	long leg	$593K	$160K	20x
KuCoin STABLEUSDTM	+0.0100%	4h	0.02458	+0.041%	$182K	$28K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02457	0.000%	$282K	$90K	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	0.02458	+0.041%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02458	+0.023%	$144K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02456	−0.057%	$2K	$853K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02455	−0.077%	$12K	$138K	10x	as long as short
BloFin STABLE-USDT	+0.0153%	4h	0.02454	−0.122%	$119K	$7K	75x	as long as short