Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.014%

Price spread now: Lighter against Gate−0.032%7-day average +0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.032%, 7d avg +0.087%

Together, before fees+0.096%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.120% cheaper against Gate than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.087%). If the spread goes back, that is −$12 on $10k: about 3.1 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.036% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate EURUSD_USDT	1.1473	0	get 0.0000% / 8h	21m 16s	$144K	$5K	100x
Short	Lighter EURUSD	1.1469	0.0128	get 0.0016% / 1h	21m 16s	$2.1M	$449K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.032%Rate

Funding earned: $26.88
Price spread: −0.032% → +0.087%: −$11.96
Slippage, 4 orders: −$35.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$35.79
Costs to cover: 0.507%
Break-even: 16.3 days

Slippage from Gate: live order book, 9 min ago; Lighter: live order book, 10 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 Gate live order book, 9 min ago	8.28 bp	24.0 bp −$24	172.7 bp −$1,727	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	1.31 bp	3.8 bp −$4	9.7 bp −$97	44.5 bp −$4,453	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
MEXC EUR_USDT	−0.0218%	4h	1.1462	−0.096%	$6.8M	$138K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0020%	1h	1.1459	−0.124%	$3K	—	50x	as long as short
Bybit EURUSDUSDT	0.0000%	8h	1.1474	+0.012%	$579K	$310K	100x	as long as short
Gate EURUSD_USDTlong	0.0000%	8h	1.1473	long leg	$144K	$5K	100x
Bitget EURUSDUSDT	0.0000%	8h	1.1471	−0.017%	$263K	$25K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1457	−0.139%	$247K	$122K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1467	−0.052%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1470	−0.026%	$12K	$272K	20x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1457	−0.140%	$6.8M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.058%	$9K	$78K	101x	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	+0.0045%	1h	1.1460	−0.114%	$467K	$159K	40x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1490	+0.147%	—	$241K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1458	−0.128%	$191K	$60K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1467	−0.055%	$12K	—	10x	as long as short
Lighter EURUSDshort	+0.0128%	1h	1.1469	−0.032%	$2.1M	$449K	50x
Hotstuff EURUSD-PERP	+0.0200%	1h	1.1468	−0.044%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0216%	1h	1.1461	−0.107%	$163K	$8.4M	30x	as long as short
tradeXYZ xyz:EUR	+0.0219%	1h	1.1468	−0.044%	$23.2M	$1.7M	50x	as long as short