Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h —

Price spread now: Coinbase International against Lighter−0.473%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Coinbase International

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

Funding pays, the price is against you. Coinbase International is 0.473% cheaper against Lighter than usual: you would sell low and buy high (spread −0.473% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$47 on $10k: about 16 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BE	274.62	0.0032	pay 0.0004% / 1h	57m 03s	—	—	10x
Short	Coinbase International BE-PERP-INTX	273.32	0.0128	get 0.0016% / 1h	57m 03s	$467K	$116K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.473%Rate

Funding earned: $20.16
Price spread: −0.473% → 0.000%: −$47.34
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$37.18
Costs to cover: 0.100%
Break-even: 19.9 days

Slippage unknown: Lighter: no order-book sample; Coinbase International: live order book, 16 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 Coinbase International live order book, 16 min ago	2.19 bp	8.8 bp −$9	18.9 bp −$189	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
Aster BEUSDT	0.0000%	8h	274.64	+0.007%	$346K	$119K	20x	as long as short
Bybit BEUSDT	0.0000%	8h	275.00	+0.138%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	274.60	−0.007%	$1.5M	$3.4M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	274.75	+0.047%	$1.7M	$2.6M	20x	as long as short
SunX BE-USDT	0.0000%	8h	274.87	+0.091%	$1K	$2.5M	10x	as long as short
HTX BE-USDT	0.0000%	8h	274.26	−0.131%	$13K	$33K	20x	as long as short
Lighter BElong	+0.0032%	1h	274.62	long leg	—	—	10x
Lighter RH BE	+0.0032%	1h	274.80	+0.066%	$250K	$298K	10x	as long as short
QFEX BE-USD	+0.0037%	1h	274.88	+0.095%	$1.3M	$3.9M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	274.22	−0.146%	$114K	$118K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest BE-USD-PERP	+0.0046%	1h	274.91	+0.106%	—	—	10x	as long as short
Binance BEUSDT	+0.0086%	8h	274.95	+0.120%	$8.5M	$36.7M	25x	as long as short
Extended BE-USD	+0.0088%	1h	274.89	+0.097%	$46K	$266K	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	274.66	+0.015%	$371K	$22K	20x	as long as short
GRVT BE_USDT_Perp	+0.0103%	8h	274.27	−0.126%	$6K	$182K	10x	as long as short
Aevo BE-PERP	+0.0104%	1h	274.51	−0.041%	—	—	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0128%	1h	273.32	−0.473%	$467K	$116K	10x
BloFin BE-USDT	+0.0206%	8h	275.01	+0.142%	$45K	$142K	20x	as long as short
OKX BE-USDT-SWAP	+0.0253%	8h	274.94	+0.117%	$2.6M	$6.9M	25x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0442%	1h	274.86	+0.087%	$7K	$4K	10x	as long as short
tradeXYZ xyz:BE	+0.0793%	1h	274.58	−0.015%	$5.9M	$2.9M	10x	as long as short