Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0150%/8h= +16.4% APRpaid last 24h +0.031%

Price spread now: MEXC against Lighter−0.008%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$160.157% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.008%, 7d avg +0.016%

Together, before fees−0.079%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.025% cheaper against Lighter than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.016%). If the spread goes back, that is −$2 on $10k: about 13 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GBPUSD	1.3374	0	get 0.0000% / 1h	1m 55s	$181K	$998K	50x
Short	MEXC GBP_USDT	1.3373	0.0150	get 0.0075% / 4h	3h 01m	$25.8M	$187K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.008%Rate

Funding earned: $31.5
Price spread: −0.008% → +0.016%: −$2.46
Slippage, 4 orders: −$7.65
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: $13.39
Costs to cover: 0.157%
Break-even: 4.0 days

Slippage from Lighter: live order book, 4 min ago; MEXC: live order book, 2 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, 4 min ago	1.38 bp	3.9 bp −$4	11.6 bp −$116	55.6 bp −$5,557	doesn't fit
Sell MEXC live order book, 2 min ago	1.12 bp	5.3 bp −$5	5.8 bp −$58	6.3 bp −$634	37.1 bp −$18.5K

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
Hibachi GBP/USDT-P	−0.0160%	1h	1.3378	+0.032%	$19K	$34K	20x	as long as short
Nado GBPUSD-PERP	−0.0085%	1h	1.3378	+0.026%	$16K	$7K	40x	as long as short
tradeXYZ xyz:GBP	0.0000%	1h	1.3375	+0.007%	$232K	$349K	50x	as long as short
Lighter GBPUSDlong	0.0000%	1h	1.3374	long leg	$181K	$998K	50x
Bybit GBPUSDUSDT	0.0000%	8h	1.3375	+0.005%	$245K	$70K	100x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3390	+0.119%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3375	+0.007%	$10K	$12K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3376	+0.014%	—	$2.6M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3368	−0.043%	$991	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3375	+0.007%	$5K	$332K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GBP-USD-PERP	+0.0037%	1h	1.3366	−0.060%	—	$38K	100x	as long as short
MEXC GBP_USDTshort	+0.0150%	4h	1.3373	−0.008%	$25.8M	$187K	100x
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3547	+1.291%	$11K	$72K	101x	as long as short