Funding arb · Price arb /

AZTEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.116%

Price spread now: Lighter against MEXC−0.111%7-day average +0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.662%+$66 on $10k

Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.111%, 7d avg +0.090%

Together, before fees+0.924%+ Points / potential airdropLighter: Season 3 · farm board+$92 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 0.201% cheaper against MEXC than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AZTEC_USDT	0.01618	0.0100	pay 0.0050% / 4h	1h 59m	$243K	$104K	20x
Short	Lighter AZTEC	0.01616	0.0096	get 0.0012% / 1h	59m 07s	$81K	$95K	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 −0.111%Rate

Funding earned: −$0.84
Price spread: −0.111% → +0.090%: −$20.11
Slippage, 4 orders: −$80.24
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$105.19
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from MEXC: live order book, 14 min ago; Lighter: live order book, 14 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, 14 min ago	3.08 bp	9.6 bp −$10	81.4 bp −$814	362.1 bp −$36.2K	883.0 bp −$441.5K
Sell Lighter live order book, 14 min ago	17.27 bp	37.8 bp −$38	115.6 bp −$1,156	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	0.01619	+0.062%	—	$1.7M	—	as long as short
BloFin AZTEC-USDT	+0.0094%	4h	0.01617	−0.062%	$97K	$30K	25x	as long as short
Lighter AZTECshort	+0.0096%	1h	0.01616	−0.111%	$81K	$95K	3x
Aster AZTECUSDT	+0.0100%	4h	0.01617	−0.047%	$7K	$21K	5x	as long as short
Binance AZTECUSDT	+0.0100%	4h	0.01620	+0.093%	$1.9M	$4.1M	25x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01618	−0.019%	$1.5M	$1.3M	25x	as long as short
OKX AZTEC-USDT-SWAP	+0.0100%	4h	0.01620	+0.124%	$363K	$890K	20x	as long as short
Gate AZTEC_USDT	+0.0100%	8h	0.01617	−0.062%	$295K	$428K	25x	as long as short
MEXC AZTEC_USDTlong	+0.0100%	4h	0.01618	long leg	$243K	$104K	20x
KuCoin AZTECUSDTM	+0.0100%	4h	0.01619	+0.062%	$284K	$287K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AZTECUSDT	+0.0100%	4h	0.01621	+0.185%	$358K	$276K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01616	−0.127%	$65K	$81K	—	as long as short
Extended AZTEC-USD	+0.0104%	1h	0.01618	+0.002%	$57K	$387K	5x	as long as short
Hyperliquid AZTEC	+0.0318%	1h	0.01620	+0.124%	$1.1M	$1.2M	3x	as long as short