Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Binance+0.180%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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 0.180% dearer against Binance than usual: you sell high and buy low, +$18 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	Binance NOTUSDT	0.0004996	0.0100	pay 0.0050% / 4h	2h 30m	$2.1M	$3.1M	50x
Short	Lighter 1000NOT	0.0005005	0.0096	get 0.0012% / 1h	30m 27s	$11K	$4K	3x

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 +0.180%Rate

Funding earned: −$0.84
Price spread: +0.180% → 0.000%: $18.02
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $7.18
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 5 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 Binance live order book, 5 min ago	1.00 bp	21.2 bp −$21	176.6 bp −$1,766	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.

NOT on 16 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
Variational Omni NOT	−0.0178%	4h	0.0004984	−0.228%	$71K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0110%	4h	0.0004988	−0.152%	$475K	$137K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−2.434%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0046%	4h	0.0004994	−0.032%	$110K	$18K	50x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0005005	+0.180%	$11K	$4K	3x
Hyperliquid NOT	+0.0100%	1h	0.0004990	−0.112%	$336K	$68K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0004993	−0.054%	$14K	$9K	5x	as long as short
Binance NOTUSDTlong	+0.0100%	4h	0.0004996	long leg	$2.1M	$3.1M	50x
Bybit NOTUSDT	+0.0100%	4h	0.0004988	−0.152%	$2.1M	$891K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0004995	−0.012%	$634K	$696K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005000	+0.088%	$138K	$73K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0004993	−0.052%	$1.3M	$449K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0004996	+0.008%	$654K	$482K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0004992	−0.072%	—	$8.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0004992	−0.064%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.1693%	1h	0.0005002	+0.129%	$49K	$9K	10x	as long as short