Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter against Kraken Futures+0.036%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.036% dearer against Kraken Futures than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_GBPUSD	1.3379	0	get 0.0000% / 1h	47m 50s	$991	—	20x
Short	Lighter GBPUSD	1.3384	0	get 0.0000% / 1h	47m 50s	$181K	$999K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Kraken Futures. 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 Kraken FuturesbpFee LighterbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → 0.000%: $3.63
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.37
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Lighter: live order book, 63 min ago. Net counts fees only.

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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Lighter live order book, 63 min ago	1.01 bp	1.0 bp −$1	7.2 bp −$72	50.6 bp −$5,058	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

GBP on 13 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
Nado GBPUSD-PERP	−0.0067%	1h	1.3389	+0.074%	$16K	$7K	40x	as long as short
tradeXYZ xyz:GBP	0.0000%	1h	1.3386	+0.050%	$233K	$342K	50x	as long as short
Lighter GBPUSDshort	0.0000%	1h	1.3384	+0.036%	$181K	$999K	50x
Bybit GBPUSDUSDT	0.0000%	8h	1.3376	−0.023%	$245K	$69K	100x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3389	+0.072%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3387	+0.057%	$12K	$13K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3386	+0.050%	—	$2.4M	10x	as long as short
Kraken Futures PF_GBPUSDlong	0.0000%	1h	1.3379	long leg	$991	—	20x
HTX GBPUSD-USDT	0.0000%	1h	1.3392	+0.095%	$5K	$335K	20x	as long as short
Vest GBP-USD-PERP	+0.0038%	1h	1.3377	−0.014%	—	$38K	100x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC GBP_USDT	+0.0184%	4h	1.3385	+0.042%	$26.0M	$255K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3750	+2.768%	$12K	$73K	101x	as long as short
Hibachi GBP/USDT-P	+0.0368%	1h	1.3390	+0.081%	$19K	$34K	20x	as long as short