Funding arb · Price arb /

AZTEC

all AZTEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0248%/8h= −27.2% APRpaid last 24h −0.161%

Price spread now: Lighter against OKX−0.205%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1331.326% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.550%+$55 on $10k

Price spread, last 4 days (all we have)+0.333%+$33 · spread now −0.205%, 7d avg −0.001%

Together, before fees+0.883%+ Points / potential airdropLighter: Season 3 · farm board+$88 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.205% cheaper against OKX than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.001%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.550%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AZTEC-USDT-SWAP	0.01609	0.0344	pay 0.0172% / 4h	2h 44m	$353K	$871K	20x
Short	Lighter AZTEC	0.01606	0.0096	get 0.0012% / 1h	44m 52s	$62K	$102K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now −0.205%Rate

Funding earned: −$52.11
Price spread: −0.205% → −0.001%: −$20.46
Slippage, 4 orders: −$122.59
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$205.16
Costs to cover: 1.326%
Break-even: never at this rate

Slippage from OKX: live order book, 21 min ago; Lighter: 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 OKX live order book, 21 min ago	6.11 bp	36.2 bp −$36	2919.4 bp −$29.2K	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	18.59 bp	21.2 bp −$21	85.7 bp −$857	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	+0.0070%	4h	0.01609	0.000%	—	$1.6M	—	as long as short
Lighter AZTECshort	+0.0096%	1h	0.01606	−0.205%	$62K	$102K	3x
Hyperliquid AZTEC	+0.0100%	1h	0.01609	+0.006%	$1.1M	$1.2M	3x	as long as short
Bybit AZTECUSDT	+0.0100%	4h	0.01607	−0.093%	$1.5M	$1.3M	25x	as long as short
Bitget AZTECUSDT	+0.0100%	4h	0.01608	−0.062%	$339K	$283K	20x	as long as short
Variational Omni AZTEC	+0.0100%	4h	0.01610	+0.047%	$64K	$84K	—	as long as short
Gate AZTEC_USDT	+0.0211%	8h	0.01610	+0.062%	$301K	$419K	25x	as long as short
OKX AZTEC-USDT-SWAPlong	+0.0344%	4h	0.01609	long leg	$353K	$871K	20x
KuCoin AZTECUSDTM	+0.0366%	4h	0.01611	+0.124%	$283K	$291K	20x	as long as short
MEXC AZTEC_USDT	+0.0372%	4h	0.01607	−0.124%	$233K	$112K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance AZTECUSDT	+0.0373%	4h	0.01608	−0.062%	$1.9M	$4.2M	25x	as long as short
Extended AZTEC-USD	+0.0376%	1h	0.01609	−0.026%	$57K	$455K	5x	as long as short
Aster AZTECUSDT	+0.0385%	4h	0.01612	+0.161%	$7K	$21K	5x	as long as short
BloFin AZTEC-USDT	+0.0413%	4h	0.01614	+0.311%	$96K	$31K	25x	as long as short