Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.062%

Price spread now: Lighter against Binance+0.025%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1221.222% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.608%+$61 on $10k

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.025% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance AZTECUSDT	0.01574	0.0100	pay 0.0050% / 4h	3h 45m	$1.9M	$4.3M	25x
Short	Lighter AZTEC	0.01574	0.0096	get 0.0012% / 1h	45m 14s	$55K	$93K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$0.84
Price spread: +0.025% → 0.000%: $2.54
Slippage, 4 orders: −$112.17
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$120.47
Costs to cover: 1.222%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Lighter: live order book, 90 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 Binance live order book, 7 min ago	6.34 bp	21.9 bp −$22	180.4 bp −$1,804	doesn't fit	doesn't fit
Sell Lighter live order book, 90 min ago	22.78 bp	35.7 bp −$36	94.7 bp −$947	doesn't fit	doesn't fit

AZTEC on 14 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
BingX AZTEC-USDT	+0.0036%	4h	0.01574	0.000%	—	$1.6M	—	as long as short
BloFin AZTEC-USDT	+0.0076%	4h	0.01573	−0.064%	$90K	$37K	25x	as long as short
Lighter AZTECshort	+0.0096%	1h	0.01574	+0.025%	$55K	$93K	3x
Hyperliquid AZTEC	+0.0100%	1h	0.01574	+0.025%	$1.1M	$1.1M	3x	as long as short
Aster AZTECUSDT	+0.0100%	4h	0.01573	−0.050%	$9K	$24K	5x	as long as short
Binance AZTECUSDTlong	+0.0100%	4h	0.01574	long leg	$1.9M	$4.3M	25x
Bybit AZTECUSDT	+0.0100%	4h	0.01573	−0.032%	$1.4M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01573	−0.064%	$322K	$864K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01571	−0.191%	$278K	$417K	25x	as long as short
MEXC AZTEC_USDT	+0.0100%	4h	0.01573	−0.064%	$224K	$121K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AZTECUSDTM	+0.0100%	4h	0.01575	+0.064%	$286K	$316K	20x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01573	−0.064%	$366K	$344K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01573	−0.080%	$62K	$65K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01574	−0.027%	$55K	$474K	5x	as long as short