Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.006%

Price spread now: Binance against Lighter−0.499%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$322as in the Funding arb table

Net, price: spread back to 7d avg − costs−$481as in the Price arb table

costs, in and out, $10k−$4404.400% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+1.180%+$118 on $10k

Price spread, last 4 days (all we have)+0.454%+$45 · spread now −0.499%, 7d avg −0.086%

Together, before fees+1.635%+ 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: Binance is 0.413% cheaper against Lighter than usual: you would sell low and buy high, −$41 on $10k if it goes back to its 7-day average of −0.086%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02504	0.0096	pay 0.0012% / 1h	4m 35s	$115K	$8K	3x
Short	Binance STABLEUSDT	0.02491	0.0100	get 0.0050% / 4h	2h 04m	$2.5M	$2.9M	75x

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 −0.499%Rate

Funding earned: $0.84
Price spread: −0.499% → −0.086%: −$41.29
Slippage, 4 orders: −$430.05
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$480.5
Costs to cover: 4.400%
Break-even: 4011.2 days

Slippage from Lighter: live order book, 45 min ago; Binance: live order book, 16 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 Lighter live order book, 45 min ago	144.55 bp	232.0 bp −$232	330.1 bp −$3,301	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	2.01 bp	27.1 bp −$27	59.8 bp −$598	doesn't fit	doesn't fit

STABLE on 14 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 STABLElong	+0.0096%	1h	0.02504	long leg	$115K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02490	−0.523%	$878K	$201K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02489	−0.572%	$19K	$7K	20x	as long as short
Binance STABLEUSDTshort	+0.0100%	4h	0.02491	−0.499%	$2.5M	$2.9M	75x
Bybit STABLEUSDT	+0.0100%	4h	0.02493	−0.411%	$1.5M	$767K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02494	−0.379%	$201K	$412K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02491	−0.499%	$174K	$70K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02491	−0.499%	$609K	$177K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02497	−0.260%	$185K	$30K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02492	−0.459%	$292K	$96K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02490	−0.539%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02493	−0.437%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02489	−0.579%	$2K	$818K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02490	−0.522%	$12K	$146K	10x	as long as short