Funding arb · Price arb /

CXMT

RWAall CXMT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0282%/8h= +30.9% APRpaid last 24h +0.239%

Price spread now: Lighter against Bybit+0.122%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1061.057% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.442%+$44 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.122%, 7d avg +0.069%

Together, before fees+0.369%+ Points / potential airdropLighter: Season 3 · farm board+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.053% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CXMTUSDT	8.5350	−0.0250	get 0.0250% / 8h	6h 18m	$924K	$1.6M	20x
Short	Lighter CXMT	8.5454	0.0032	get 0.0004% / 1h	18m 19s	$100K	$16K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.122%Rate

Funding earned: $59.26
Price spread: +0.122% → +0.069%: $5.32
Slippage, 4 orders: −$94.73
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$41.15
Costs to cover: 1.057%
Break-even: 11.9 days

Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 26 min ago.

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 Bybit live order book, 1 min ago	2.93 bp	18.9 bp −$19	125.1 bp −$1,251	doesn't fit	doesn't fit
Sell Lighter live order book, 26 min ago	22.56 bp	41.8 bp −$42	91.3 bp −$913	doesn't fit	doesn't fit

CXMT on 16 exchanges

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
OKX CXMT-USDT-SWAP	−0.2327%	8h	8.5430	+0.094%	$1.1M	$5.9M	20x	as long as short
Bitget CXMTUSDT	−0.2313%	8h	8.5430	+0.094%	$663K	$1.1M	20x	as long as short
Aster CXMTUSDT	−0.1474%	8h	8.5358	+0.009%	$136K	$71K	20x	as long as short
Binance CXMTUSDT	−0.1162%	4h	8.5470	+0.141%	$4.0M	$10.3M	20x	as long as short
Gate CXMT_USDT	−0.0784%	1h	8.5420	+0.082%	$5.2M	$14.0M	50x	as long as short
Ondo Perps CXMT-USD.P	−0.0719%	1h	8.5412	+0.073%	$28K	$41K	10x	as long as short
Bybit CXMTUSDTlong	−0.0250%	8h	8.5350	long leg	$924K	$1.6M	20x
tradeXYZ xyz:CXMT	−0.0022%	1h	8.5375	+0.029%	$55.6M	$10.0M	10x	as long as short
edgeX CXMTUSDC	−0.0014%	4h	8.5346	−0.005%	$457K	$267K	10x	as long as short
SunX CXMT-USDT	0.0000%	4h	8.5530	+0.211%	$84	$1.8M	10x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CXMT-USDT	0.0000%	4h	8.6022	+0.787%	$32K	$39K	10x	as long as short
Lighter CXMTshort	+0.0032%	1h	8.5454	+0.122%	$100K	$16K	5x
Popdex CXMTUSDT	+0.0048%	1h	8.5460	+0.129%	$2K	$114K	20x	as long as short
Polymarket Perps CXMT-USD	+0.0050%	1h	8.5309	−0.048%	$8K	$45K	10x	as long as short
SoDEX CXMT-USD	+0.0050%	1h	8.5377	+0.032%	$227K	$12K	5x	as long as short
ApeX Omni CXMTUSDT	+0.0100%	1h	8.5400	+0.059%	$8K	$253K	50x	as long as short