Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h −0.121%

Price spread now: Lighter against BingX−0.094%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1161.164% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.517%+$52 on $10k

Price spread, last 4 days (all we have)+0.230%+$23 · spread now −0.094%, 7d avg +0.039%

Together, before fees+0.747%+ Points / potential airdropLighter: Season 3 · farm board+$75 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.133% cheaper against BingX than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of +0.039%). If the spread goes back, that is −$13 on $10k: about 7.4 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.517% in total) that is about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX AZTEC-USDT	0.01599	0.0036	pay 0.0018% / 4h	2h 03m	—	$1.6M	—
Short	Lighter AZTEC	0.01597	0.0096	get 0.0012% / 1h	3m 56s	$57K	$106K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now −0.094%Rate

Funding earned: $12.6
Price spread: −0.094% → +0.039%: −$13.31
Slippage, 4 orders: −$106.44
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$117.15
Costs to cover: 1.164%
Break-even: 72.1 days

Slippage from BingX: live order book, 12 min ago; Lighter: live order book, 45 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 BingX live order book, 12 min ago	9.40 bp	33.0 bp −$33	99.8 bp −$998	976.3 bp −$97.6K	doesn't fit
Sell Lighter live order book, 45 min ago	18.59 bp	21.2 bp −$21	85.7 bp −$857	doesn't fit	doesn't fit

AZTEC 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
BingX AZTEC-USDTlong	+0.0036%	4h	0.01599	long leg	—	$1.6M	—
Lighter AZTECshort	+0.0096%	1h	0.01597	−0.094%	$57K	$106K	3x
Hyperliquid AZTEC	+0.0100%	1h	0.01599	−0.019%	$1.1M	$1.2M	3x	as long as short
Aster AZTECUSDT	+0.0100%	4h	0.01601	+0.095%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01599	0.000%	$1.9M	$4.2M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01597	−0.125%	$1.5M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01599	0.000%	$349K	$857K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01599	0.000%	$297K	$426K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01598	−0.063%	$228K	$115K	20x	as long as short
KuCoin AZTECUSDTM	+0.0100%	4h	0.01601	+0.125%	$282K	$291K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AZTECUSDT	+0.0100%	4h	0.01598	−0.063%	$342K	$286K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01598	−0.080%	$64K	$85K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01598	−0.054%	$57K	$457K	5x	as long as short