Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h 0.000%

Price spread now: BloFin against Lighter−0.119%60s7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.393% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.826%+$83 · spread now −0.119%, 7d avg −0.024%

Together, before fees+0.895%+ Points / potential airdropLighter: Season 3 · farm board+$90 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: BloFin is 0.094% cheaper against Lighter than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ARB	0.2194	0.0096	pay 0.0012% / 1h	47m 49s	$1.2M	$5.5M	15x
Short	BloFin ARB-USDT	0.2191	0.0087	get 0.0087% / 8h	3h 47m	$3.1M	$2.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$1.85
Price spread: −0.119% → −0.024%: −$9.42
Slippage, 4 orders: −$27.29
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$50.56
Costs to cover: 0.393%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; BloFin: live order book, 5 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, 5 min ago	2.73 bp	13.3 bp −$13	28.8 bp −$288	101.9 bp −$10.2K	doesn't fit
Sell BloFin live order book, 5 min ago	0.68 bp	8.6 bp −$9	16.5 bp −$165	45.7 bp −$4,570	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1589%	1h	0.2182	−0.529%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0274%	1h	0.2195	+0.064%	$81K	$2.1M	10x	as long as short
MEXC ARB_USDT	−0.0118%	8h	0.2194	+0.009%	$41.9M	$60.3M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0117%	8h	0.2193	−0.050%	$22.2M	$143.3M	50x	as long as short
Variational Omni ARB	−0.0098%	8h	0.2194	+0.003%	$1.8M	$2.9M	—	as long as short
Orderly PERP_ARB_USDC	−0.0073%	8h	0.2193	−0.027%	$12K	$407K	10x	as long as short
Bybit ARBUSDT	−0.0053%	8h	0.2192	−0.087%	$55.3M	$123.9M	50x	as long as short
Kraken Futures PF_ARBUSD	−0.0050%	1h	0.2194	+0.009%	$1.1M	$4.4M	50x	as long as short
01 Exchange ARBUSD	−0.0048%	1h	0.2194	+0.018%	$7K	$2K	10x	as long as short
Gate ARB_USDT	−0.0044%	8h	0.2192	−0.055%	$5.3M	$18.0M	60x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ARB-USD	0.0000%	1h	0.2195	+0.083%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2194	+0.018%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2194	+0.030%	$32K	—	150x	as long as short
Binance ARBUSDT	+0.0022%	8h	0.2194	+0.014%	$63.8M	$299.6M	75x	as long as short
Extended ARB-USD	+0.0024%	1h	0.2193	−0.024%	$349K	$2.5M	25x	as long as short
Bitget ARBUSDT	+0.0057%	8h	0.2194	+0.018%	$20.9M	$34.1M	50x	as long as short
SoDEX ARB-USD	+0.0057%	1h	0.2193	−0.023%	$10K	$2.2M	5x	as long as short
BingX ARB-USDT	+0.0058%	8h	0.2193	−0.018%	—	$53.6M	—	as long as short
BloFin ARB-USDTshort	+0.0087%	8h	0.2191	−0.119%	$3.1M	$2.5M	75x
Aevo ARB-PERP	+0.0088%	1h	0.2194	+0.017%	$139K	$7K	3x	as long as short
Lighter ARBlong	+0.0096%	1h	0.2194	long leg	$1.2M	$5.5M	15x
Hyperliquid ARB	+0.0100%	1h	0.2194	+0.005%	$37.6M	$48.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2194	+0.036%	$632K	$1.5M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2196	+0.105%	$42K	$159K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2195	+0.064%	$19.5M	$14.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2200	+0.310%	$38K	$463K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2201	+0.336%	$475K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2203	+0.429%	$119K	$284K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2197	+0.155%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2193	−0.018%	$298K	$888K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2194	+0.018%	$5.0M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2195	+0.069%	$480K	$2.6M	10x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2200	+0.269%	$493K	$1.7M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2194	+0.007%	$829K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2194	+0.034%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0501%	1h	0.2197	+0.150%	$987K	$2.8M	20x	as long as short