Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Lighter against Bybit+0.046%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.046%, 7d avg +0.082%

Together, before fees+0.238%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.036% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EURUSDUSDT	1.1481	0	get 0.0000% / 8h	3h 46m	$585K	$223K	100x
Short	Lighter EURUSD	1.1486	0	get 0.0000% / 1h	46m 51s	$2.1M	$412K	50x

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 +0.046%Rate

Funding earned: $0
Price spread: +0.046% → +0.082%: −$3.61
Slippage, 4 orders: −$25.88
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.49
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Bybit: live order book, 63 min ago; Lighter: live order book, 5 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, 63 min ago	4.49 bp	19.7 bp −$20	45.9 bp −$459	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.44 bp	2.7 bp −$3	6.0 bp −$60	41.6 bp −$4,164	doesn't fit

EUR on 18 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
Kraken Futures PF_EURUSD	−0.0179%	1h	1.1474	−0.053%	$3K	—	50x	as long as short
Hibachi EUR/USDT-P	−0.0176%	1h	1.1474	−0.055%	$165K	$8.3M	30x	as long as short
MEXC EUR_USDT	−0.0156%	4h	1.1478	−0.022%	$6.8M	$132K	100x	as long as short
Lighter EURUSDshort	0.0000%	1h	1.1486	+0.046%	$2.1M	$412K	50x
Bybit EURUSDUSDTlong	0.0000%	8h	1.1481	long leg	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1479	−0.013%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1478	−0.022%	$253K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1476	−0.039%	$198K	$98K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1482	+0.013%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1484	+0.030%	$12K	$263K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERP	+0.0022%	1h	1.1479	−0.012%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1476	−0.041%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.123%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1508	+0.237%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1480	−0.004%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1482	+0.016%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0152%	1h	1.1483	+0.022%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0198%	1h	1.1484	+0.030%	$23.3M	$1.8M	50x	as long as short