Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0452%/8h= +49.5% APRpaid last 24h +0.227%

Price spread now: Lighter against Binance+0.496%7-day average +0.266% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1331.333% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.536%+$54 on $10k

Price spread, last 4 days (all we have)−0.223%−$22 · spread now +0.496%, 7d avg +0.266%

Together, before fees+0.314%+ Points / potential airdropLighter: Season 3 · farm board+$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Lighter is 0.230% dearer against Binance than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.266%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CCUSDT	0.1190	0.0100	pay 0.0050% / 4h	21m 48s	$11.2M	$12.0M	75x
Short	Lighter CC	0.1196	0.0552	get 0.0069% / 1h	21m 48s	$255K	$169K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.496%Rate

Funding earned: $94.92
Price spread: +0.496% → +0.266%: $22.98
Slippage, 4 orders: −$123.34
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.43
Costs to cover: 1.333%
Break-even: 8.1 days

Slippage from Binance: live order book, 3 min ago; Lighter: live order book, 63 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 Binance live order book, 3 min ago	1.26 bp	18.8 bp −$19	59.2 bp −$592	doesn't fit	doesn't fit
Sell Lighter live order book, 63 min ago	20.62 bp	26.6 bp −$27	285.2 bp −$2,852	doesn't fit	doesn't fit

CC on 19 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
Bybit CCUSDT	−0.0041%	4h	0.1190	+0.008%	$11.0M	$3.8M	25x	as long as short
MEXC CC_USDT	−0.0032%	4h	0.1190	−0.025%	$1.8M	$358K	100x	as long as short
Injective CC/USDC PERP	+0.0033%	1h	0.1180	−0.832%	$402	$3K	5.5x	as long as short
Paradex CC-USD-PERP	+0.0099%	8h	0.1190	+0.029%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1193	+0.235%	$5.5M	$1.4M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1191	+0.102%	$35K	$27K	20x	as long as short
Binance CCUSDTlong	+0.0100%	4h	0.1190	long leg	$11.2M	$12.0M	75x
OKX CC-USDT-SWAP	+0.0100%	4h	0.1191	+0.101%	$2.6M	$3.0M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1192	+0.151%	$365K	$183K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1192	+0.185%	$491K	$100K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1190	−0.017%	$925K	$747K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1190	+0.025%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1190	+0.008%	$16K	$23K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1194	+0.318%	$609K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1194	+0.362%	$86K	$3.0M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1189	−0.054%	$6K	$33K	6.7x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1192	+0.143%	$605K	$98K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0454% / S −0.0241%	1h	0.1192	+0.135%	$44K	—	50x	as long as short
Lighter CCshort	+0.0552%	1h	0.1196	+0.496%	$255K	$169K	5x