Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Binance against Lighter−0.218%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Binance

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: Binance is 0.218% cheaper against Lighter than usual: you would sell low and buy high, −$22 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 1000NOT	0.0005002	0.0096	pay 0.0012% / 1h	52m 25s	$11K	$6K	3x
Short	Binance NOTUSDT	0.0004991	0.0100	get 0.0050% / 4h	1h 52m	$2.0M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.218%Rate

Funding earned: $0.84
Price spread: −0.218% → 0.000%: −$21.79
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.95
Costs to cover: 0.100%
Break-even: 264.9 days

Slippage unknown: Lighter: no order-book sample; Binance: live order book, 6 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 Binance live order book, 6 min ago	1.00 bp	22.5 bp −$22	131.1 bp −$1,311	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.

NOT on 16 exchanges

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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−2.557%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0054%	4h	0.0004994	−0.158%	$108K	$17K	50x	as long as short
Lighter 1000NOTlong	+0.0096%	1h	0.0005002	long leg	$11K	$6K	3x
Hyperliquid NOT	+0.0100%	1h	0.0004990	−0.238%	$332K	$68K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0004992	−0.198%	$14K	$3K	5x	as long as short
Binance NOTUSDTshort	+0.0100%	4h	0.0004991	−0.218%	$2.0M	$2.7M	50x
Bybit NOTUSDT	+0.0100%	4h	0.0004984	−0.358%	$2.1M	$769K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0004991	−0.218%	$637K	$626K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005000	−0.038%	$139K	$58K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0004992	−0.198%	$1.3M	$429K	200x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0004981	−0.418%	$491K	$129K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0004996	−0.118%	$672K	$486K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0004988	−0.278%	—	$737K	—	as long as short
Variational Omni NOT	+0.0100%	4h	0.0004992	−0.203%	$71K	$37K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0004990	−0.231%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.1051%	1h	0.0005005	+0.057%	$49K	$5K	10x	as long as short