Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.035%

Price spread now: Bybit against Lighter−0.018%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 7 days−0.042%−$4 · spread now −0.018%, 7d avg −0.052%

Together, before fees−0.131%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.034% dearer against Lighter than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.052%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.090% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ARB	0.2215	0.0096	pay 0.0012% / 1h	19m 52s	$1.2M	$7.4M	15x
Short	Bybit ARBUSDT	0.2215	−0.0043	pay 0.0043% / 8h	6h 19m	$56.7M	$128.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$29.23
Price spread: −0.018% → −0.052%: $3.36
Slippage, 4 orders: −$29.65
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$66.52
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Bybit: live order book, 4 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, 3 min ago	2.92 bp	10.5 bp −$10	20.3 bp −$203	102.0 bp −$10.2K	doesn't fit
Sell Bybit live order book, 4 min ago	0.45 bp	10.9 bp −$11	26.8 bp −$268	59.8 bp −$5,984	doesn't fit

ARB on 35 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 ARB/USDC PERP	−0.1692%	1h	0.2215	−0.014%	$40K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0232%	1h	0.2216	+0.018%	$7K	$2K	10x	as long as short
SoDEX ARB-USD	−0.0231%	1h	0.2215	−0.027%	$10K	$2.5M	5x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0201%	1h	0.2215	0.000%	$24K	$34K	25x	as long as short
Variational Omni ARB	−0.0167%	8h	0.2218	+0.110%	$1.9M	$2.9M	—	as long as short
OKX ARB-USDT-SWAP	−0.0124%	8h	0.2214	−0.045%	$22.4M	$156.5M	50x	as long as short
MEXC ARB_USDT	−0.0123%	8h	0.2216	+0.023%	$39.3M	$60.2M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0061%	8h	0.2216	+0.032%	$12K	$383K	10x	as long as short
Gate ARB_USDT	−0.0061%	8h	0.2215	−0.005%	$5.4M	$19.9M	60x	as long as short
Bybit ARBUSDTshort	−0.0043%	8h	0.2215	−0.018%	$56.7M	$128.6M	50x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0002%	8h	0.2215	−0.012%	$64.6M	$317.5M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2216	+0.048%	$66K	$5K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2215	−0.009%	$355K	$2.5M	25x	as long as short
ApeX Omni ARBUSDT	+0.0001%	1h	0.2225	+0.438%	$120K	$286K	50x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0011%	1h	0.2217	+0.055%	$10K	—	150x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2216	+0.032%	$141K	$7K	3x	as long as short
Lighter ARBlong	+0.0096%	1h	0.2215	long leg	$1.2M	$7.4M	15x
Hyperliquid ARB	+0.0100%	1h	0.2217	+0.054%	$38.7M	$51.8M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2216	+0.045%	$660K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2218	+0.099%	$42K	$186K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2216	+0.036%	$19.6M	$15.8M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2215	−0.014%	$21.2M	$36.4M	50x	as long as short
BingX ARB-USDT	+0.0100%	8h	0.2215	−0.023%	—	$54.6M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2222	+0.304%	$40K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2224	+0.376%	$474K	$3.7M	10x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2216	+0.050%	$74K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2216	+0.032%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2215	−0.009%	$297K	$996K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2214	−0.059%	$5.0M	$13.0M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2217	+0.086%	$507K	$2.1M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2217	+0.067%	$827K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2215	−0.004%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0312%	1h	0.2217	+0.080%	$1.1M	$4.7M	50x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2217	+0.056%	$477K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0533%	1h	0.2219	+0.167%	$1.0M	$2.9M	20x	as long as short