Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Lighter against SunX−0.013%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$203as in the Funding arb table

Net, price: spread back to 7d avg − costs−$211as in the Price arb table

costs, in and out, $10k−$2042.044% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.013%, 7d avg +0.056%

Together, before fees+0.038%+ 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: Lighter is 0.069% cheaper against SunX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX GBPUSD-USDT	1.3360	0	get 0.0000% / 1h	17m 32s	—	$1.8M	10x
Short	Lighter GBPUSD	1.3358	0	get 0.0000% / 1h	17m 32s	$222K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.056%: −$6.9
Slippage, 4 orders: −$196.42
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$211.32
Costs to cover: 2.044%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; Lighter: live order book, 1 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 SunX live order book, 2 min ago	81.20 bp	99.0 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 1 min ago	1.16 bp	1.2 bp −$1	8.0 bp −$80	46.9 bp −$4,688	doesn't fit

GBP on 13 exchanges

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	−0.0032%	1h	1.3360	−0.002%	$22K	$42K	20x	as long as short
Nado GBPUSD-PERP	−0.0001%	1h	1.3361	+0.011%	$16K	$1K	40x	as long as short
Lighter GBPUSDshort	0.0000%	1h	1.3358	−0.013%	$222K	$1.0M	50x
Bybit GBPUSDUSDT	0.0000%	8h	1.3357	−0.019%	$241K	$99K	100x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3385	+0.187%	$222K	$14K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3360	0.000%	$12K	$8K	100x	as long as short
SunX GBPUSD-USDTlong	0.0000%	1h	1.3360	long leg	—	$1.8M	10x
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3355	−0.035%	$990	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3386	+0.195%	$5K	$338K	20x	as long as short
tradeXYZ xyz:GBP	+0.0004%	1h	1.3361	+0.007%	$257K	$360K	50x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GBP-USD-PERP	+0.0038%	1h	1.3350	−0.076%	—	$5K	100x	as long as short
MEXC GBP_USDT	+0.0168%	4h	1.3361	+0.007%	$26.3M	$339K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3504	+1.075%	$11K	$72K	101x	as long as short