Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Bybit against Lighter−0.024%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now −0.024%, 7d avg −0.084%

Together, before fees−0.261%+ Points / potential airdropLighter: Season 3 · farm board−$26 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: Bybit is 0.061% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EURUSD	1.1474	0	get 0.0000% / 1h	54m 55s	$2.1M	$400K	50x
Short	Bybit EURUSDUSDT	1.1471	0	get 0.0000% / 8h	7h 54m	$584K	$279K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.084%: $6.08
Slippage, 4 orders: −$27.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$32.91
Costs to cover: 0.390%
Break-even: never at this rate

Slippage from Lighter: live order book, 12 min ago; Bybit: 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 Lighter live order book, 12 min ago	1.35 bp	1.4 bp −$1	4.6 bp −$46	65.6 bp −$6,564	doesn't fit
Sell Bybit live order book, 10 min ago	2.35 bp	15.7 bp −$16	46.1 bp −$461	doesn't fit	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	−0.0148%	4h	1.1468	−0.050%	$6.8M	$150K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0052%	1h	1.1464	−0.084%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0015%	1h	1.1468	−0.046%	$466K	$189K	40x	as long as short
Lighter EURUSDlong	0.0000%	1h	1.1474	long leg	$2.1M	$400K	50x
Bybit EURUSDUSDTshort	0.0000%	8h	1.1471	−0.024%	$584K	$279K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1480	+0.055%	$142K	$4K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1470	−0.032%	$251K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1466	−0.067%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1472	−0.015%	—	$2.6M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1474	+0.003%	$12K	$257K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1467	−0.060%	$6.7M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1470	−0.029%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1498	+0.209%	—	$264K	100x	as long as short
Hotstuff EURUSD-PERP	+0.0088%	1h	1.1474	+0.003%	$33K	—	50x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1467	−0.062%	$190K	$128K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1472	−0.016%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0164%	1h	1.1472	−0.015%	$23.2M	$2.4M	50x	as long as short
Hibachi EUR/USDT-P	+0.0232%	1h	1.1467	−0.058%	$161K	$8.3M	30x	as long as short