Funding arb · Price arb /

STABLE

all STABLE markets

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 SunX+0.615%7-day average +0.054% · you sell dearer than you buy

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.411%−$141 on $10k

Price spread, last 4 days (all we have)−0.742%−$74 · spread now +0.615%, 7d avg +0.054%

Together, before fees−2.153%+ Points / potential airdropLighter: Season 3 · farm board−$215 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 0.561% dearer against SunX than usual: you sell high and buy low, +$56 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX STABLE-USDT	0.02454	0.0100	pay 0.0050% / 4h	4m 25s	$1K	$862K	20x
Short	Lighter STABLE	0.02469	0.0096	get 0.0012% / 1h	4m 25s	$113K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.615%Rate

Funding earned: −$0.84
Price spread: +0.615% → +0.054%: $56.15
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $47.31
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 18 min ago; Lighter: live order book, 35 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 SunX live order book, 18 min ago	500.06 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 35 min ago	117.43 bp	153.0 bp −$153	545.9 bp −$5,459	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	+0.0069%	4h	0.02458	+0.167%	$117K	$7K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02469	+0.615%	$113K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02454	−0.004%	$863K	$185K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02453	−0.028%	$18K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02454	+0.004%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02456	+0.077%	$1.5M	$774K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02453	−0.037%	$204K	$405K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02456	+0.086%	$174K	$59K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02454	+0.004%	$587K	$163K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02460	+0.249%	$178K	$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	0.02455	+0.045%	$281K	$91K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02455	+0.045%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02457	+0.129%	$144K	$50K	—	as long as short
SunX STABLE-USDTlong	+0.0100%	4h	0.02454	long leg	$1K	$862K	20x
Extended STABLE-USD	+0.0104%	1h	0.02453	−0.025%	$12K	$132K	10x	as long as short