Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bybit+0.047%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 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 0.047% dearer against Bybit than usual: you sell high and buy low, +$5 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	Bybit EDGEUSDT	0.5965	0.0100	pay 0.0050% / 4h	3h 35m	$7.1M	$3.3M	25x
Short	Lighter EDGE	0.5968	0.0096	get 0.0012% / 1h	35m 08s	$49K	$14K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee LighterbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$0.84
Price spread: +0.047% → 0.000%: $4.69
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.15
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Lighter: no order-book sample. Net counts fees only.

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 Bybit live order book, 3 min ago	3.34 bp	19.6 bp −$20	300.6 bp −$3,006	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

EDGE on 17 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
Backpack EDGE_USDC_PERP	+0.0024%	1h	0.5976	+0.186%	$57K	$101K	3.3x	as long as short
Lighter EDGEshort	+0.0096%	1h	0.5968	+0.047%	$49K	$14K	3x
Bybit EDGEUSDTlong	+0.0100%	4h	0.5965	long leg	$7.1M	$3.3M	25x
KuCoin EDGEUSDTM	+0.0100%	4h	0.5981	+0.268%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5981	+0.268%	$4.8M	$1.0M	20x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5976	+0.186%	$192K	$127K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5984	+0.319%	$3K	$1.9M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.6004	+0.654%	$9K	$293K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.5945	−0.335%	$4K	$615K	10x	as long as short
OKX EDGE-USDT-SWAP	+0.0541%	4h	0.5979	+0.235%	$3.7M	$5.9M	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster EDGEUSDT	+0.0578%	4h	0.5986	+0.353%	$69K	$133K	5x	as long as short
edgeX EDGEUSDC	+0.0588%	4h	0.5995	+0.506%	$14.3M	$3.6M	30x	as long as short
Binance EDGEUSDT	+0.0592%	4h	0.5977	+0.203%	$10.2M	$10.2M	50x	as long as short
Extended EDGE-USD	+0.0592%	1h	0.5976	+0.181%	$27K	$224K	5x	as long as short
MEXC EDGE_USDT	+0.0596%	4h	0.5974	+0.151%	$1.2M	$912K	50x	as long as short
BloFin EDGE-USDT	+0.0635%	4h	0.5980	+0.251%	$645K	$95K	50x	as long as short
Orderly PERP_EDGE_USDC	+0.0772%	4h	0.5980	+0.251%	$3K	—	10x	as long as short