Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0004%/8hpaid last 24h −0.018%

Price spread now: Lighter against Bitget+0.076%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$730.725% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.803%−$80 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now +0.076%, 7d avg −0.022%

Together, before fees−0.810%+ Points / potential airdropLighter: Season 3 · farm board−$81 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.098% dearer against Bitget than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.03943	0.0100	pay 0.0050% / 4h	6m 03s	$1.2M	$4.2M	50x
Short	Lighter S	0.03946	0.0096	get 0.0012% / 1h	6m 03s	$166K	$278K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$0.84
Price spread: +0.076% → −0.022%: $9.85
Slippage, 4 orders: −$60.52
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$63.51
Costs to cover: 0.725%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Lighter: live order book, 21 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 Bitget live order book, 1 min ago	5.07 bp	22.6 bp −$23	66.3 bp −$663	doesn't fit	doesn't fit
Sell Lighter live order book, 21 min ago	8.97 bp	12.3 bp −$12	85.8 bp −$858	doesn't fit	doesn't fit

S on 25 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
Kraken Futures PF_SUSD	−0.2110%	1h	0.03940	−0.087%	$33K	$37K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1488%	1h	0.03826	−2.967%	$47K	$9K	25x	as long as short
Variational Omni S	−0.1440%	4h	0.03917	−0.647%	$608K	$116K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03947	+0.091%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03939	−0.097%	$4	—	15x	as long as short
Aster SUSDT	−0.0090%	4h	0.03941	−0.042%	$43K	$241K	10x	as long as short
OKX S-USDT-SWAP	−0.0059%	4h	0.03941	−0.051%	$988K	$11.2M	20x	as long as short
Orderly PERP_S_USDC	−0.0025%	4h	0.03945	+0.051%	$107K	$326K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03945	+0.044%	$608	—	150x	as long as short
01 Exchange SUSD	+0.0016%	1h	0.03930	−0.330%	$24K	$3K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.982%	$2K	$37K	12x	as long as short
Lighter Sshort	+0.0096%	1h	0.03946	+0.076%	$166K	$278K	5x
Hyperliquid S	+0.0100%	1h	0.03943	−0.005%	$1.0M	$1.2M	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03942	−0.029%	$5.4M	$34.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03937	−0.152%	$5.6M	$8.3M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03937	−0.152%	$322K	$347K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03942	−0.025%	$3.8M	$3.4M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03943	0.000%	$1.9M	$3.5M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.03943	long leg	$1.2M	$4.2M	50x
BingX S-USDT	+0.0100%	4h	0.03942	−0.025%	—	$6.9M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.330%	$26K	$482K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03942	−0.033%	$221K	$904K	10x	as long as short
Backpack S_USDC_PERP	+0.0330%	1h	0.03950	+0.178%	$115K	$264K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03935	−0.203%	$273K	$257K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0510%	1h	0.03949	+0.152%	$66K	$10K	10x	as long as short