Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bybit−0.040%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.040% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit EDGEUSDT	0.5943	0.0100	pay 0.0050% / 4h	3h 30m	$7.2M	$3.4M	25x
Short	Lighter EDGE	0.5941	0.0096	get 0.0012% / 1h	30m 54s	$43K	$22K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$0.84
Price spread: −0.040% → 0.000%: −$4.04
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.88
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Lighter: no order-book sample. Net counts fees only.

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 Bybit live order book, 2 min ago	3.36 bp	175.9 bp −$176	397.9 bp −$3,979	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

EDGE on 17 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
Lighter EDGEshort	+0.0096%	1h	0.5941	−0.040%	$43K	$22K	3x
Bybit EDGEUSDTlong	+0.0100%	4h	0.5943	long leg	$7.2M	$3.4M	25x
Bitget EDGEUSDT	+0.0100%	4h	0.5948	+0.084%	$4.7M	$1.2M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5950	+0.116%	$57K	$122K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5989	+0.766%	$189K	$145K	—	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5974	+0.522%	$9K	$296K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5911	−0.538%	$4K	$648K	10x	as long as short
GRVT EDGE_USDT_Perp	+0.0156%	4h	0.6005	+1.042%	$4K	$3.3M	10x	as long as short
KuCoin EDGEUSDTM	+0.0190%	4h	0.5961	+0.303%	$2.1M	$2.2M	50x	as long as short
Aster EDGEUSDT	+0.0410%	4h	0.5955	+0.204%	$52K	$150K	5x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX EDGE-USDT-SWAP	+0.0559%	4h	0.5948	+0.084%	$3.7M	$6.1M	20x	as long as short
edgeX EDGEUSDC	+0.0585%	4h	0.5976	+0.557%	$14.4M	$3.7M	30x	as long as short
BloFin EDGE-USDT	+0.0596%	4h	0.5958	+0.252%	$665K	$106K	50x	as long as short
Binance EDGEUSDT	+0.0600%	4h	0.5951	+0.127%	$10.3M	$11.1M	50x	as long as short
Extended EDGE-USD	+0.0600%	1h	0.5946	+0.057%	$27K	$270K	5x	as long as short
MEXC EDGE_USDT	+0.0606%	4h	0.5950	+0.118%	$1.1M	$720K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0675%	4h	0.5950	+0.118%	$2K	$1K	10x	as long as short