Funding arb · Price arb /

RIVER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.166%

Price spread now: Lighter against OKX−0.158%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 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 0.158% cheaper against OKX than usual: you would sell low and buy high, −$16 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	OKX RIVER-USDT-SWAP	1.2640	0.0100	pay 0.0050% / 4h	19m 02s	$2.0M	$3.8M	20x
Short	Lighter RIVER	1.2620	0.0096	get 0.0012% / 1h	19m 02s	$41K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$0.84
Price spread: −0.158% → 0.000%: −$15.82
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$26.66
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	3.96 bp	21.4 bp −$21	138.1 bp −$1,381	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.

RIVER 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
Lighter RIVERshort	+0.0096%	1h	1.2620	−0.158%	$41K	$17K	3x
OKX RIVER-USDT-SWAPlong	+0.0100%	4h	1.2640	long leg	$2.0M	$3.8M	20x
KuCoin RIVERUSDTM	+0.0100%	4h	1.2610	−0.237%	$2.4M	$2.3M	50x	as long as short
GRVT RIVER_USDT_Perp	+0.0100%	4h	1.2630	−0.078%	$32K	$415K	10x	as long as short
SunX RIVER-USDT	+0.0100%	4h	1.2590	−0.396%	$1K	$989K	20x	as long as short
HTX RIVER-USDT	+0.0100%	4h	1.2680	+0.316%	$48K	$95K	20x	as long as short
Gate RIVER_USDT	+0.0200%	4h	1.2620	−0.158%	$423K	$113K	20x	as long as short
Bitget RIVERUSDT	+0.0272%	4h	1.2620	−0.158%	$3.0M	$1.9M	20x	as long as short
Aster RIVERUSDT	+0.0562%	4h	1.2629	−0.089%	$72K	$31K	10x	as long as short
MEXC RIVER_USDT	+0.0644%	4h	1.2620	−0.158%	$3.7M	$1.5M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance RIVERUSDT	+0.0644%	4h	1.2630	−0.079%	$6.1M	$10.5M	50x	as long as short
BloFin RIVER-USDT	+0.0664%	4h	1.2640	0.000%	$417K	$33K	50x	as long as short
Kraken Futures PF_RIVERUSD	+0.0727%	1h	1.2633	−0.059%	$57K	$74K	10x	as long as short
Variational Omni RIVER	+0.0808%	4h	1.2643	+0.026%	$42K	$20K	—	as long as short
BingX RIVER-USDT	+0.1124%	4h	1.2630	−0.079%	—	$6.8M	—	as long as short
Bybit RIVERUSDT	+0.1184%	4h	1.2630	−0.079%	$3.8M	$1.7M	25x	as long as short