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 tradeXYZ−0.017%7-day average +0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on tradeXYZ Short on Lighter

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)+0.190%+$19 · spread now −0.017%, 7d avg +0.061%

Together, before fees+0.289%+ Points / potential airdroptradeXYZ: Active · Lighter: Season 3 · farm board+$29 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 0.079% cheaper against tradeXYZ than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:GBP	1.3386	0	get 0.0000% / 1h	45m 44s	$233K	$342K	50x
Short	Lighter GBPUSD	1.3384	0	get 0.0000% / 1h	45m 44s	$181K	$999K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against tradeXYZ. 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 tradeXYZbpFee LighterbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.061%: −$7.85
Slippage, 4 orders: −$8.32
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Lighter: 0 bp × 2 orders: $0
Net: −$34.17
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 31 min ago; Lighter: live order book, 65 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 tradeXYZ live order book, 31 min ago	1.12 bp	11.9 bp −$12	15.4 bp −$154	doesn't fit	doesn't fit
Sell Lighter live order book, 65 min ago	1.01 bp	1.0 bp −$1	7.2 bp −$72	50.6 bp −$5,058	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	−0.0066%	1h	1.3389	+0.022%	$16K	$7K	40x	as long as short
tradeXYZ xyz:GBPlong	0.0000%	1h	1.3386	long leg	$233K	$342K	50x
Lighter GBPUSDshort	0.0000%	1h	1.3384	−0.017%	$181K	$999K	50x
Bybit GBPUSDUSDT	0.0000%	8h	1.3377	−0.067%	$245K	$69K	100x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3389	+0.022%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3386	0.000%	$12K	$13K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3386	0.000%	—	$2.4M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3378	−0.057%	$991	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3391	+0.037%	$5K	$335K	20x	as long as short
Vest GBP-USD-PERP	+0.0038%	1h	1.3377	−0.067%	—	$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	+0.0194%	4h	1.3385	−0.007%	$26.0M	$255K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3750	+2.717%	$12K	$73K	101x	as long as short
Hibachi GBP/USDT-P	+0.0368%	1h	1.3390	+0.031%	$19K	$34K	20x	as long as short