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 −0.005%

Price spread now: Gate against Lighter+0.001%7-day average −0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.001%, 7d avg −0.091%

Together, before fees−0.043%+ Points / potential airdropLighter: Season 3 · farm board−$4 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: Gate is 0.092% dearer against Lighter than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EURUSD	1.1475	0	get 0.0000% / 1h	34m 02s	$2.1M	$419K	50x
Short	Gate EURUSD_USDT	1.1475	0	get 0.0000% / 8h	7h 34m	$142K	$4K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.001%Rate

Funding earned: $0
Price spread: +0.001% → −0.091%: $9.16
Slippage, 4 orders: −$32.05
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$37.89
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Gate: live order book, 32 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, 3 min ago	0.04 bp	0.0 bp $0	11.3 bp −$113	71.4 bp −$7,142	doesn't fit
Sell Gate live order book, 32 min ago	0.87 bp	24.6 bp −$25	188.2 bp −$1,882	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	−0.0158%	4h	1.1470	−0.043%	$6.8M	$151K	100x	as long as short
Kraken Futures PF_EURUSD	−0.0052%	1h	1.1464	−0.091%	$3K	—	50x	as long as short
Nado EURUSD-PERP	−0.0006%	1h	1.1471	−0.033%	$466K	$177K	40x	as long as short
Lighter EURUSDlong	0.0000%	1h	1.1475	long leg	$2.1M	$419K	50x
Bybit EURUSDUSDT	0.0000%	8h	1.1470	−0.043%	$584K	$279K	100x	as long as short
Gate EURUSD_USDTshort	0.0000%	8h	1.1475	+0.001%	$142K	$4K	100x
Bitget EURUSDUSDT	0.0000%	8h	1.1472	−0.025%	$251K	$20K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1469	−0.051%	$198K	$111K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1472	−0.025%	—	$2.6M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1470	−0.043%	$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	1.1469	−0.054%	$6.7M	$1.3M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1470	−0.039%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1500	+0.221%	—	$264K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1469	−0.047%	$190K	$127K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1473	−0.020%	$12K	—	10x	as long as short
tradeXYZ xyz:EUR	+0.0109%	1h	1.1473	−0.017%	$23.2M	$1.9M	50x	as long as short
Hotstuff EURUSD-PERP	+0.0152%	1h	1.1475	+0.001%	$33K	—	50x	as long as short
Hibachi EUR/USDT-P	+0.0192%	1h	1.1468	−0.057%	$160K	$8.3M	30x	as long as short