Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h +0.018%

Price spread now: BloFin against Lighter−0.608%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$417as in the Funding arb table

Net, price: spread back to 7d avg − costs−$592as in the Price arb table

costs, in and out, $10k−$5365.362% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.188%+$119 on $10k

Price spread, last 3 days (all we have)+0.653%+$65 · spread now −0.608%, 7d avg −0.050%

Together, before fees+1.841%+ Points / potential airdropLighter: Season 3 · farm board+$184 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.557% cheaper against Lighter than usual: you would sell low and buy high (spread −0.608% now, against its 7-day average of −0.050%). If the spread goes back, that is −$56 on $10k: about 30 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+1.188% in total) that is about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02484	0.0096	pay 0.0012% / 1h	59m 18s	$114K	$3K	3x
Short	BloFin STABLE-USDT	0.02469	0.0158	get 0.0079% / 4h	1h 59m	$114K	$7K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.608%Rate

Funding earned: $13.1
Price spread: −0.608% → −0.050%: −$55.74
Slippage, 4 orders: −$524.18
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$578.82
Costs to cover: 5.362%
Break-even: 316.3 days

Slippage from Lighter: live order book, 14 min ago; BloFin: live order book, 13 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, 14 min ago	185.38 bp	292.8 bp −$293	320.9 bp −$3,209	doesn't fit	doesn't fit
Sell BloFin live order book, 13 min ago	4.05 bp	18.1 bp −$18	55.1 bp −$551	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
Aster STABLEUSDT	−0.0344%	4h	0.02469	−0.596%	$19K	$7K	20x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02484	long leg	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02469	−0.604%	$871K	$234K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02468	−0.637%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02472	−0.487%	$1.5M	$799K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02468	−0.648%	$204K	$414K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02467	−0.688%	$171K	$86K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02469	−0.608%	$659K	$154K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02472	−0.487%	$174K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02469	−0.608%	$291K	$116K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02471	−0.527%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02471	−0.531%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02472	−0.491%	$2K	$650K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02468	−0.663%	$12K	$175K	10x	as long as short
BloFin STABLE-USDTshort	+0.0158%	4h	0.02469	−0.608%	$114K	$7K	75x