Funding arb · Price arb /

STABLE

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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 +0.014%

Price spread now: OKX against Lighter−0.403%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$317as in the Funding arb table

Net, price: spread back to 7d avg − costs−$461as in the Price arb table

costs, in and out, $10k−$4214.213% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.047%+$105 on $10k

Price spread, last 4 days (all we have)+0.372%+$37 · spread now −0.403%, 7d avg −0.007%

Together, before fees+1.419%+ Points / potential airdropLighter: Season 3 · farm board+$142 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: OKX is 0.396% cheaper against Lighter than usual: you would sell low and buy high, −$40 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02533	0.0096	pay 0.0012% / 1h	18m 55s	$116K	$3K	3x
Short	OKX STABLE-USDT-SWAP	0.02523	0.0100	get 0.0050% / 4h	18m 55s	$207K	$423K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.403%Rate

Funding earned: $0.84
Price spread: −0.403% → −0.007%: −$39.6
Slippage, 4 orders: −$411.33
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$460.09
Costs to cover: 4.213%
Break-even: 3841.1 days

Slippage from Lighter: live order book, 41 min ago; OKX: live order book, 57 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, 41 min ago	140.00 bp	206.1 bp −$206	338.4 bp −$3,384	doesn't fit	doesn't fit
Sell OKX live order book, 57 min ago	4.06 bp	33.7 bp −$34	doesn't fit	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	+0.0066%	4h	0.02517	−0.640%	$114K	$7K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02533	long leg	$116K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02521	−0.478%	$889K	$228K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02521	−0.494%	$19K	$6K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02520	−0.512%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02522	−0.442%	$1.5M	$766K	25x	as long as short
OKX STABLE-USDT-SWAPshort	+0.0100%	4h	0.02523	−0.403%	$207K	$423K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02521	−0.482%	$174K	$88K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02519	−0.561%	$672K	$156K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02520	−0.521%	$181K	$29K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02523	−0.403%	$297K	$113K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02522	−0.442%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02514	−0.752%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02519	−0.557%	$2K	$687K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02520	−0.531%	$12K	$175K	10x	as long as short