Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: tradeXYZ against Lighter+0.036%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

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

costs, in and out, $10k−$280.279% of the position

Long on Lighter Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.036%, 7d avg −0.065%

Together, before fees−0.260%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · 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: tradeXYZ is 0.101% dearer against Lighter than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GBPUSD	1.3361	0	get 0.0000% / 1h	13m 39s	$181K	$999K	50x
Short	tradeXYZ xyz:GBP	1.3366	0	get 0.0000% / 1h	13m 39s	$232K	$345K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → −0.065%: $10.1
Slippage, 4 orders: −$9.93
Fee Lighter: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$17.83
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Lighter: live order book, 52 min ago; tradeXYZ: live order book, 33 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, 52 min ago	1.38 bp	3.9 bp −$4	11.6 bp −$116	55.6 bp −$5,557	doesn't fit
Sell tradeXYZ live order book, 33 min ago	0.75 bp	10.4 bp −$10	13.6 bp −$136	doesn't fit	doesn't fit

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	−0.0061%	1h	1.3366	+0.035%	$16K	$7K	40x	as long as short
tradeXYZ xyz:GBPshort	0.0000%	1h	1.3366	+0.036%	$232K	$345K	50x
Lighter GBPUSDlong	0.0000%	1h	1.3361	long leg	$181K	$999K	50x
Bybit GBPUSDUSDT	0.0000%	8h	1.3375	+0.101%	$245K	$69K	100x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3386	+0.186%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3364	+0.021%	$10K	$12K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3367	+0.043%	—	$2.5M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3356	−0.036%	$990	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3375	+0.103%	$5K	$332K	20x	as long as short
Vest GBP-USD-PERP	+0.0037%	1h	1.3355	−0.044%	—	$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	+0.0130%	4h	1.3363	+0.013%	$25.8M	$186K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3514	+1.141%	$11K	$72K	101x	as long as short
Hibachi GBP/USDT-P	+0.0240%	1h	1.3370	+0.064%	$19K	$34K	20x	as long as short