Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h —

Price spread now: Coinbase International against Lighter−0.022%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Coinbase International is 0.022% cheaper against Lighter than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 3.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BE	270.65	0.0032	pay 0.0004% / 1h	41m 06s	—	—	10x
Short	Coinbase International BE-PERP-INTX	270.59	0.0056	get 0.0007% / 1h	41m 06s	$473K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.022%Rate

Funding earned: $5.04
Price spread: −0.022% → 0.000%: −$2.22
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$7.18
Costs to cover: 0.100%
Break-even: 17.0 days

Slippage unknown: Lighter: no order-book sample; Coinbase International: live order book, 2 min ago. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 2 min ago	3.69 bp	8.7 bp −$9	16.6 bp −$166	doesn't fit	doesn't fit

Lighter: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BE on 21 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
Gate BE_USDT	−0.0116%	8h	270.70	+0.018%	$1.4M	$3.4M	50x	as long as short
Bitget BEUSDT	−0.0091%	8h	270.80	+0.055%	$1.6M	$2.6M	20x	as long as short
Aster BEUSDT	0.0000%	8h	270.82	+0.061%	$341K	$123K	20x	as long as short
Extended BE-USD	0.0000%	1h	270.71	+0.023%	$46K	$257K	10x	as long as short
Binance BEUSDT	0.0000%	8h	270.78	+0.047%	$8.2M	$37.2M	25x	as long as short
OKX BE-USDT-SWAP	0.0000%	8h	270.83	+0.067%	$2.6M	$6.8M	25x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	271.18	+0.194%	$7K	$157K	10x	as long as short
SunX BE-USDT	0.0000%	8h	270.87	+0.081%	$1K	$2.3M	10x	as long as short
HTX BE-USDT	0.0000%	8h	270.91	+0.096%	$12K	$35K	20x	as long as short
Lighter BElong	+0.0032%	1h	270.65	long leg	—	—	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	270.69	+0.015%	$241K	$297K	10x	as long as short
QFEX BE-USD	+0.0040%	1h	270.90	+0.092%	$1.3M	$2.4M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	270.80	+0.055%	$113K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	270.76	+0.041%	—	—	10x	as long as short
Bybit BEUSDT	+0.0050%	8h	270.89	+0.089%	$2.0M	$1.1M	25x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0056%	1h	270.59	−0.022%	$473K	$130K	10x
Deribit BE_USDC-PERPETUAL	+0.0083%	1h	270.76	+0.041%	$6K	$4K	10x	as long as short
tradeXYZ xyz:BE	+0.0094%	1h	270.73	+0.030%	$5.9M	$2.8M	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	270.76	+0.041%	$366K	$18K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	270.72	+0.025%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	271.01	+0.133%	$45K	$146K	20x	as long as short