Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0215%/8h= −23.5% APRpaid last 24h −0.052%

Price spread now: OKX against Lighter−0.165%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

Price spread, last 7 days+0.134%+$13 · spread now −0.165%, 7d avg −0.046%

Together, before fees−0.041%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and OKX is 0.118% cheaper against Lighter than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ARB	0.2245	0.0096	pay 0.0012% / 1h	48m 27s	$1.4M	$7.3M	15x
Short	OKX ARB-USDT-SWAP	0.2242	−0.0119	pay 0.0119% / 8h	7h 48m	$22.5M	$157.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.165%Rate

Funding earned: −$45.05
Price spread: −0.165% → −0.046%: −$11.83
Slippage, 4 orders: −$28
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$94.88
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; OKX: live order book, 6 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	2.89 bp	11.2 bp −$11	23.2 bp −$232	108.0 bp −$10.8K	doesn't fit
Sell OKX live order book, 6 min ago	0.22 bp	11.3 bp −$11	22.2 bp −$222	doesn't fit	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	−0.1666%	1h	0.2230	−0.681%	$40K	$372K	12x	as long as short
Bybit ARBUSDT	−0.0337%	8h	0.2241	−0.205%	$57.8M	$127.4M	50x	as long as short
Variational Omni ARB	−0.0211%	8h	0.2243	−0.125%	$1.9M	$2.8M	—	as long as short
01 Exchange ARBUSD	−0.0152%	1h	0.2241	−0.183%	$7K	$2K	10x	as long as short
Kraken Futures PF_ARBUSD	−0.0139%	1h	0.2245	−0.034%	$1.1M	$4.9M	50x	as long as short
OKX ARB-USDT-SWAPshort	−0.0119%	8h	0.2242	−0.165%	$22.5M	$157.1M	50x
MEXC ARB_USDT	−0.0117%	8h	0.2243	−0.120%	$38.2M	$58.9M	200x	as long as short
SoDEX ARB-USD	−0.0043%	1h	0.2243	−0.111%	$4K	$2.6M	5x	as long as short
Orderly PERP_ARB_USDC	−0.0042%	8h	0.2241	−0.192%	$13K	$387K	10x	as long as short
Extended ARB-USD	−0.0016%	1h	0.2241	−0.179%	$357K	$2.5M	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0015%	8h	0.2242	−0.152%	$66.0M	$312.3M	75x	as long as short
Gate ARB_USDT	−0.0007%	8h	0.2243	−0.116%	$5.4M	$19.7M	60x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2244	−0.045%	$66K	$4K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2244	−0.076%	$25K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2243	−0.122%	$55K	—	150x	as long as short
BingX ARB-USDC	+0.0045%	8h	0.2240	−0.227%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0050%	8h	0.2242	−0.147%	$21.2M	$36.0M	50x	as long as short
Polymarket Perps ARB-USD	+0.0061%	1h	0.2242	−0.156%	$66K	$2.0M	10x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2243	−0.080%	$142K	$7K	3x	as long as short
Lighter ARBlong	+0.0096%	1h	0.2245	long leg	$1.4M	$7.3M	15x
Hyperliquid ARB	+0.0100%	1h	0.2245	+0.009%	$40.5M	$47.5M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2242	−0.140%	$697K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2244	−0.049%	$44K	$187K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2244	−0.067%	$19.5M	$16.0M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2248	+0.126%	$40K	$461K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2248	+0.118%	$483K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2245	−0.013%	$121K	$295K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2243	−0.102%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2242	−0.165%	$291K	$1.0M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2243	−0.102%	$5.1M	$13.0M	50x	as long as short
BloFin ARB-USDT	+0.0105%	8h	0.2243	−0.120%	$3.1M	$2.7M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0232%	1h	0.2248	+0.111%	$507K	$2.2M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0290% / S −0.0177%	1h	0.2242	−0.130%	$892K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2241	−0.181%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERP	+0.0338%	1h	0.2246	+0.036%	$1.0M	$2.8M	20x	as long as short
RISEx ARB/USDC	+0.0384%	1h	0.2242	−0.128%	$499K	$2.7M	10x	as long as short