Funding arb · Price arb /

BE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h —

Price spread now: Bybit against Lighter+0.100%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Bybit

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

The price spread pays, funding is against you. Bybit is 0.100% dearer against Lighter than usual: you sell high and buy low (spread +0.100% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BE	270.50	0.0032	pay 0.0004% / 1h	57m 40s	—	—	10x
Short	Bybit BEUSDT	270.77	0	get 0.0000% / 8h	7h 57m	$2.0M	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$6.72
Price spread: +0.100% → 0.000%: $9.98
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$7.74
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 4 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 no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	2.40 bp	23.7 bp −$24	142.9 bp −$1,429	doesn't fit	doesn't fit

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
Deribit BE_USDC-PERPETUAL	−0.0672%	1h	270.85	+0.129%	$6K	$4K	10x	as long as short
tradeXYZ xyz:BE	−0.0322%	1h	270.58	+0.030%	$5.9M	$2.8M	10x	as long as short
Gate BE_USDT	−0.0265%	8h	270.60	+0.037%	$1.4M	$3.2M	50x	as long as short
Bitget BEUSDT	−0.0034%	8h	270.63	+0.048%	$1.6M	$2.6M	20x	as long as short
Aster BEUSDT	0.0000%	8h	270.67	+0.063%	$342K	$128K	20x	as long as short
Extended BE-USD	0.0000%	1h	270.68	+0.067%	$47K	$384K	10x	as long as short
Binance BEUSDT	0.0000%	8h	270.75	+0.092%	$8.1M	$37.0M	25x	as long as short
Bybit BEUSDTshort	0.0000%	8h	270.77	+0.100%	$2.0M	$1.2M	25x
OKX BE-USDT-SWAP	0.0000%	8h	270.72	+0.081%	$2.6M	$6.9M	25x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	270.90	+0.149%	$6K	$153K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BE-USDT	0.0000%	8h	270.90	+0.148%	$1K	$2.2M	10x	as long as short
HTX BE-USDT	0.0000%	8h	270.94	+0.163%	$12K	$35K	20x	as long as short
QFEX BE-USD	+0.0012%	1h	270.30	−0.074%	$1.3M	$2.2M	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0016%	1h	270.47	−0.011%	$473K	$115K	10x	as long as short
Lighter BElong	+0.0032%	1h	270.50	long leg	—	—	10x
Lighter RH BE	+0.0032%	1h	270.50	0.000%	$248K	$298K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	270.43	−0.026%	$113K	$95K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	271.35	+0.314%	—	—	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	270.76	+0.096%	$352K	$39K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	271.10	+0.223%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	270.88	+0.140%	$45K	$144K	20x	as long as short