Funding arb · Price arb /

BE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0263%/8h= −28.8% APRnext payment −$0.33 per $10,000 · paid last 24h —

Price spread now: Lighter against Deribit−0.065%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Lighter is 0.065% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BE_USDC-PERPETUAL	275.37	0.0295	pay 0.0037% / 1h	31m 05s	$7K	$4K	10x
Short	Lighter BE	275.19	0.0032	get 0.0004% / 1h	31m 05s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$55.23
Price spread: −0.065% → 0.000%: −$6.54
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$68.77
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Lighter: no order-book sample. 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 Deribit no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

Deribit and Lighter: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BE on 21 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
Aster BEUSDT	0.0000%	8h	275.12	−0.090%	$346K	$119K	20x	as long as short
Bybit BEUSDT	0.0000%	8h	275.59	+0.080%	$2.0M	$1.1M	25x	as long as short
Gate BE_USDT	0.0000%	8h	275.10	−0.098%	$1.5M	$3.3M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	275.36	−0.004%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	275.43	+0.020%	$7K	$164K	10x	as long as short
SunX BE-USDT	0.0000%	8h	275.52	+0.054%	$1K	$2.4M	10x	as long as short
HTX BE-USDT	0.0000%	8h	275.42	+0.018%	$13K	$34K	20x	as long as short
QFEX BE-USD	+0.0012%	1h	275.42	+0.018%	$1.3M	$2.8M	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0016%	1h	273.08	−0.832%	$473K	$130K	10x	as long as short
Lighter BEshort	+0.0032%	1h	275.19	−0.065%	—	—	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	275.32	−0.018%	$251K	$289K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	275.13	−0.087%	$115K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	275.37	0.000%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	275.33	−0.015%	$5.9M	$2.8M	10x	as long as short
Binance BEUSDT	+0.0070%	8h	275.57	+0.072%	$8.4M	$36.1M	25x	as long as short
Extended BE-USD	+0.0072%	1h	275.36	−0.003%	$47K	$265K	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	275.31	−0.022%	$372K	$22K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	275.40	+0.011%	—	—	10x	as long as short
OKX BE-USDT-SWAP	+0.0118%	8h	275.60	+0.084%	$2.6M	$6.8M	25x	as long as short
BloFin BE-USDT	+0.0190%	8h	275.39	+0.007%	$45K	$141K	20x	as long as short
Deribit BE_USDC-PERPETUALlong	+0.0295%	1h	275.37	long leg	$7K	$4K	10x