Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.004%

Price spread now: KuCoin against Lighter+0.194%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 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: KuCoin is 0.194% dearer against Lighter than usual: you sell high and buy low, +$19 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	Lighter EDGE	0.5923	0.0096	pay 0.0012% / 1h	27m 31s	$43K	$19K	3x
Short	KuCoin EDGEUSDTM	0.5934	0.0100	get 0.0050% / 4h	1h 27m	$2.1M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.194%Rate

Funding earned: $0.84
Price spread: +0.194% → 0.000%: $19.42
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $8.26
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; KuCoin: live order book, 9 min ago. 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 Lighter no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 9 min ago	4.21 bp	116.5 bp −$116	889.4 bp −$8,894	doesn't fit	doesn't fit

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 EDGElong	+0.0096%	1h	0.5923	long leg	$43K	$19K	3x
Bybit EDGEUSDT	+0.0100%	4h	0.5922	−0.008%	$7.1M	$3.3M	25x	as long as short
KuCoin EDGEUSDTMshort	+0.0100%	4h	0.5934	+0.194%	$2.1M	$2.2M	50x
Bitget EDGEUSDT	+0.0100%	4h	0.5929	+0.110%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5932	+0.154%	$61K	$104K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5946	+0.402%	$191K	$133K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5957	+0.586%	$5K	$2.1M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5962	+0.667%	$9K	$306K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6209	+4.837%	$4K	$621K	10x	as long as short
MEXC EDGE_USDT	+0.0462%	4h	0.5935	+0.211%	$1.1M	$901K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance EDGEUSDT	+0.0462%	4h	0.5935	+0.206%	$10.1M	$10.4M	50x	as long as short
Extended EDGE-USD	+0.0464%	1h	0.5934	+0.193%	$27K	$194K	5x	as long as short
Aster EDGEUSDT	+0.0489%	4h	0.5932	+0.160%	$68K	$129K	5x	as long as short
edgeX EDGEUSDC	+0.0514%	4h	0.5958	+0.596%	$14.2M	$3.6M	30x	as long as short
OKX EDGE-USDT-SWAP	+0.0516%	4h	0.5938	+0.262%	$3.7M	$5.8M	20x	as long as short
BloFin EDGE-USDT	+0.0522%	4h	0.5951	+0.481%	$651K	$101K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0665%	4h	0.5932	+0.160%	$3K	—	10x	as long as short