Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.004%

Price spread now: OKX against Lighter RH+0.020%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 7 days+0.026%+$3 · spread now +0.020%, 7d avg +0.057%

Together, before fees+0.056%+ Points / potential airdropLighter RH: Points live · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.037% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.057%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH COIN	195.83	0.0032	pay 0.0004% / 1h	59m 07s	$466K	$1.3M	10x
Short	OKX COIN-USDT-SWAP	195.87	0	get 0.0000% / 8h	7h 59m	$3.0M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter RH. 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 Lighter RHbpFee OKXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$6.72
Price spread: +0.020% → +0.057%: −$3.67
Slippage, 4 orders: −$20.2
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$40.59
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; OKX: live order book, 3 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 RH live order book, 3 min ago	2.82 bp	3.6 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.26 bp	11.8 bp −$12	19.6 bp −$196	doesn't fit	doesn't fit

COIN on 26 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
Injective COIN/USDC PERP	−0.0440%	1h	195.48	−0.179%	$43K	$40K	30x	as long as short
Bitget COINUSDT	−0.0321%	8h	195.96	+0.066%	$6.4M	$10.5M	20x	as long as short
Vest COIN-USD-PERP	−0.0051%	1h	195.29	−0.276%	—	$326K	25x	as long as short
Aster COINUSDT	0.0000%	8h	195.93	+0.053%	$342K	$890K	20x	as long as short
Bybit COINUSDT	0.0000%	8h	195.95	+0.061%	$4.7M	$6.2M	50x	as long as short
OKX COIN-USDT-SWAPshort	0.0000%	8h	195.87	+0.020%	$3.0M	$4.7M	20x
Gate COIN_USDT	0.0000%	8h	195.85	+0.010%	$1.2M	$6.7M	50x	as long as short
Variational Omni COIN	0.0000%	8h	195.45	−0.195%	$659K	$1.0M	—	as long as short
GRVT COIN_USDT_Perp	+0.0008%	8h	195.46	−0.189%	$20K	$2.9M	10x	as long as short
tradeXYZ xyz:COIN	+0.0024%	1h	195.90	+0.036%	$15.2M	$12.9M	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH COINlong	+0.0032%	1h	195.83	long leg	$466K	$1.3M	10x
Extended COIN_24_5-USD	+0.0032%	1h	195.80	−0.014%	$104K	$860K	10x	as long as short
Binance COINUSDT	+0.0035%	8h	195.86	+0.014%	$15.0M	$82.1M	20x	as long as short
Arcus COIN-USD	+0.0040%	1h	195.79	−0.020%	$17K	$58K	5x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	195.71	−0.061%	$135K	$1.4M	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	195.32	−0.260%	$442K	$2.8M	10x	as long as short
QFEX COIN-USD	+0.0065%	1h	195.65	−0.092%	$1.3M	$2.9M	10x	as long as short
Lighter COIN	+0.0072%	1h	195.88	+0.028%	$364K	$2.0M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	195.72	−0.056%	$986K	$154K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	195.40	−0.220%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	195.88	+0.026%	$566	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	195.92	+0.045%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0141%	8h	195.85	+0.010%	$187K	$435K	20x	as long as short
Phoenix COIN	+0.0163%	1h	195.42	−0.209%	$4K	$283K	10x	as long as short
SoDEX COIN-USD	+0.0241%	1h	195.71	−0.061%	$78	$3K	10x	as long as short
edgeX COINUSDC	+0.0875%	4h	195.55	−0.145%	$50K	$295K	10x	as long as short