Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.005%

Price spread now: Lighter against MEXC+0.543%7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs−$572as in the Funding arb table

Net, price: spread back to 7d avg − costs−$422as in the Price arb table

costs, in and out, $10k−$4634.632% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.090%−$109 on $10k

Price spread, last 4 days (all we have)−0.514%−$51 · spread now +0.543%, 7d avg +0.126%

Together, before fees−1.604%+ Points / potential airdropLighter: Season 3 · farm board−$160 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 0.417% dearer against MEXC than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC STABLE_USDT	0.02432	0.0100	pay 0.0050% / 4h	1h 07m	$602K	$153K	20x
Short	Lighter STABLE	0.02445	0.0096	get 0.0012% / 1h	7m 17s	$112K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.543%Rate

Funding earned: −$0.84
Price spread: +0.543% → +0.126%: $41.71
Slippage, 4 orders: −$455.23
Fee MEXC: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$422.36
Costs to cover: 4.632%
Break-even: never at this rate

Slippage from MEXC: live order book, 31 min ago; Lighter: live order book, 29 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 MEXC live order book, 31 min ago	4.11 bp	16.1 bp −$16	44.3 bp −$443	220.6 bp −$22.1K	792.4 bp −$396.2K
Sell Lighter live order book, 29 min ago	172.68 bp	184.5 bp −$184	590.5 bp −$5,905	doesn't fit	doesn't fit

STABLE on 15 exchanges

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	+0.0084%	4h	0.02431	−0.041%	$112K	$20K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02445	+0.543%	$112K	$10K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02430	−0.082%	$852K	$141K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02432	−0.017%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02432	0.000%	$2.5M	$2.5M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02433	+0.033%	$1.5M	$760K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02435	+0.123%	$210K	$399K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02432	0.000%	$181K	$47K	50x	as long as short
MEXC STABLE_USDTlong	+0.0100%	4h	0.02432	long leg	$602K	$153K	20x
KuCoin STABLEUSDTM	+0.0100%	4h	0.02438	+0.247%	$182K	$27K	30x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02433	+0.041%	$281K	$83K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02433	+0.041%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02432	−0.004%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02432	+0.021%	$2K	$1.0M	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02431	−0.031%	$11K	$211K	10x	as long as short