Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.006%

Price spread now: Lighter against Bitget+0.469%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$697as in the Funding arb table

Net, price: spread back to 7d avg − costs−$543as in the Price arb table

costs, in and out, $10k−$5835.828% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.144%−$114 on $10k

Price spread, last 4 days (all we have)−0.488%−$49 · spread now +0.469%, 7d avg +0.068%

Together, before fees−1.631%+ Points / potential airdropLighter: Season 3 · farm board−$163 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 0.401% dearer against Bitget than usual: you sell high and buy low, +$40 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget STABLEUSDT	0.02432	0.0100	pay 0.0050% / 4h	2h 15m	$279K	$94K	25x
Short	Lighter STABLE	0.02443	0.0096	get 0.0012% / 1h	15m 09s	$112K	$6K	3x

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 +0.469%Rate

Funding earned: −$0.84
Price spread: +0.469% → +0.068%: $40.07
Slippage, 4 orders: −$570.84
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$543.6
Costs to cover: 5.828%
Break-even: never at this rate

Slippage from Bitget: live order book, 25 min ago; Lighter: live order book, 14 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, 25 min ago	6.16 bp	72.2 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 14 min ago	153.31 bp	211.8 bp −$212	574.4 bp −$5,744	doesn't fit	doesn't fit

STABLE on 15 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
BloFin STABLE-USDT	+0.0050%	4h	0.02431	−0.041%	$113K	$7K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02443	+0.469%	$112K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02430	−0.086%	$854K	$183K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02431	−0.026%	$18K	$10K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02431	−0.061%	$2.4M	$2.8M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02433	+0.025%	$1.5M	$788K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02431	−0.041%	$209K	$428K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02431	−0.041%	$173K	$59K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02431	−0.041%	$582K	$165K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02434	+0.082%	$177K	$28K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDTlong	+0.0100%	4h	0.02432	long leg	$279K	$94K	25x
BingX STABLE-USDT	+0.0100%	4h	0.02431	−0.041%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02433	+0.025%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02431	−0.053%	$2K	$916K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02429	−0.105%	$11K	$234K	10x	as long as short