Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Lighter−0.277%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 BingX

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: BingX is 0.277% cheaper against Lighter than usual: you would sell low and buy high, −$28 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	0.0005027	0.0096	pay 0.0012% / 1h	18m 21s	$11K	$6K	3x
Short	BingX NOT-USDT	0.0005013	0.0100	get 0.0050% / 4h	18m 21s	—	$8.5M	—

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 −0.277%Rate

Funding earned: $0.84
Price spread: −0.277% → 0.000%: −$27.65
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$36.81
Costs to cover: 0.100%
Break-even: 313.8 days

Slippage unknown: Lighter: no order-book sample; BingX: live order book, 10 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 BingX live order book, 10 min ago	2.98 bp	16.7 bp −$17	48.0 bp −$480	577.4 bp −$57.7K	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 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	+0.0018%	4h	0.0004996	−0.622%	$71K	$38K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.042%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0081%	4h	0.0005007	−0.396%	$109K	$18K	50x	as long as short
Lighter 1000NOTlong	+0.0096%	1h	0.0005027	long leg	$11K	$6K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005010	−0.336%	$338K	$65K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005023	−0.070%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005019	−0.161%	$2.1M	$2.9M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005013	−0.277%	$2.1M	$824K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005021	−0.117%	$642K	$653K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005009	−0.356%	$138K	$55K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005019	−0.157%	$1.3M	$466K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005016	−0.217%	$491K	$133K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005017	−0.197%	$674K	$471K	50x	as long as short
BingX NOT-USDTshort	+0.0100%	4h	0.0005013	−0.277%	—	$8.5M	—
Extended kNOT-USD	+0.0104%	1h	0.0005015	−0.232%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0445%	1h	0.0005029	+0.043%	$49K	$5K	10x	as long as short