Funding arb · Price arb /

BE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h —

Price spread now: SunX against Lighter+0.095%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 SunX

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. SunX is 0.095% dearer against Lighter than usual: you sell high and buy low (spread +0.095% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BE	274.35	0.0032	pay 0.0004% / 1h	59m 39s	—	—	10x
Short	SunX BE-USDT	274.61	0	get 0.0000% / 8h	5h 59m	$1K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$6.72
Price spread: +0.095% → 0.000%: $9.48
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$5.24
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; SunX: live order book, 7 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 SunX live order book, 7 min ago	45.70 bp	129.8 bp −$130	doesn't fit	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 20 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	274.38	+0.010%	$345K	$119K	20x	as long as short
Bybit BEUSDT	0.0000%	8h	274.62	+0.098%	$2.0M	$1.1M	25x	as long as short
Gate BE_USDT	0.0000%	8h	274.40	+0.018%	$1.5M	$3.3M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	274.41	+0.022%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	274.46	+0.039%	$7K	$167K	10x	as long as short
SunX BE-USDTshort	0.0000%	8h	274.61	+0.095%	$1K	$2.4M	10x
HTX BE-USDT	0.0000%	8h	274.79	+0.160%	$13K	$34K	20x	as long as short
QFEX BE-USD	+0.0026%	1h	274.50	+0.055%	$1.3M	$3.0M	10x	as long as short
Lighter BElong	+0.0032%	1h	274.35	long leg	—	—	10x
Lighter RH BE	+0.0032%	1h	274.43	+0.029%	$251K	$290K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus BE-USD	+0.0040%	1h	274.32	−0.011%	$115K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	274.59	+0.087%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	274.35	0.000%	$5.9M	$2.8M	10x	as long as short
Extended BE-USD	+0.0088%	1h	274.46	+0.042%	$46K	$262K	10x	as long as short
Binance BEUSDT	+0.0090%	8h	274.54	+0.068%	$8.4M	$36.2M	25x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	274.42	+0.026%	$371K	$22K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	274.36	+0.005%	—	—	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0112%	1h	273.08	−0.463%	$473K	$130K	10x	as long as short
OKX BE-USDT-SWAP	+0.0152%	8h	274.55	+0.073%	$2.6M	$6.7M	25x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0297%	1h	274.41	+0.022%	$7K	$4K	10x	as long as short