Funding arb · Price arb /

GRASS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1036%/8h= −113.4% APRpaid last 24h −0.359%

Price spread now: BingX against Lighter−0.380%7-day average −0.161% · you buy dearer than you sell

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1411.406% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.939%−$94 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now −0.380%, 7d avg −0.161%

Together, before fees−1.178%+ Points / potential airdropLighter: Season 3 · farm board−$118 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and BingX is 0.219% cheaper against Lighter than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.161%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter GRASS	0.4551	0.1136	pay 0.0142% / 1h	34m 35s	$882K	$1.0M	5x
Short	BingX GRASS-USDT	0.4534	0.0100	get 0.0050% / 4h	3h 34m	—	$7.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.380%Rate

Funding earned: −$217.56
Price spread: −0.380% → −0.161%: −$21.87
Slippage, 4 orders: −$130.63
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$380.06
Costs to cover: 1.406%
Break-even: never at this rate

Slippage from Lighter: live order book, 1 min ago; BingX: live order book, 3 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, 1 min ago	41.31 bp	66.3 bp −$66	154.9 bp −$1,549	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	3.32 bp	13.0 bp −$13	49.1 bp −$491	262.8 bp −$26.3K	596.5 bp −$298.3K

GRASS 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
Reya GRASSRUSDPERP	−0.0107%	1h	0.4539	−0.273%	$682	—	15x	as long as short
Injective GRASS/USDC PERP	+0.0033%	1h	0.4267	−6.247%	$7	$23K	5.5x	as long as short
Binance GRASSUSDT	+0.0100%	4h	0.4537	−0.314%	$10.8M	$40.3M	75x	as long as short
Bybit GRASSUSDT	+0.0100%	4h	0.4532	−0.426%	$26.2M	$21.7M	25x	as long as short
OKX GRASS-USDT-SWAP	+0.0100%	4h	0.4533	−0.402%	$3.6M	$23.7M	20x	as long as short
Gate GRASS_USDT	+0.0100%	4h	0.4533	−0.402%	$1.3M	$2.0M	50x	as long as short
MEXC GRASS_USDT	+0.0100%	4h	0.4536	−0.336%	$1.9M	$3.2M	100x	as long as short
KuCoin GRASSUSDTM	+0.0100%	4h	0.4535	−0.358%	$1.5M	$2.2M	50x	as long as short
Bitget GRASSUSDT	+0.0100%	4h	0.4533	−0.409%	$5.3M	$4.2M	75x	as long as short
BingX GRASS-USDTshort	+0.0100%	4h	0.4534	−0.380%	—	$7.5M	—

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni GRASS	+0.0100%	4h	0.4534	−0.375%	$2.3M	$1.4M	—	as long as short
Extended GRASS-USD	+0.0104%	1h	0.4534	−0.373%	$224K	$1.3M	10x	as long as short
BloFin GRASS-USDT	+0.0142%	4h	0.4539	−0.270%	$580K	$417K	20x	as long as short
Aster GRASSUSDT	+0.0494%	4h	0.4535	−0.362%	$64K	$346K	10x	as long as short
Hyperliquid GRASS	+0.0513%	1h	0.4535	−0.358%	$17.3M	$4.8M	3x	as long as short
Kraken Futures PF_GRASSUSD	+0.1117%	1h	0.4545	−0.138%	$164K	$163K	20x	as long as short
Lighter GRASSlong	+0.1136%	1h	0.4551	long leg	$882K	$1.0M	5x