Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter−0.042%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Bybit

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: Bybit is 0.042% cheaper against Lighter than usual: you would sell low and buy high, −$4 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	Lighter EDGE	0.5949	0.0096	pay 0.0012% / 1h	31m 23s	$43K	$19K	3x
Short	Bybit EDGEUSDT	0.5947	0.0100	get 0.0050% / 4h	1h 31m	$7.1M	$3.3M	25x

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 −0.042%Rate

Funding earned: $0.84
Price spread: −0.042% → 0.000%: −$4.2
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$14.36
Costs to cover: 0.110%
Break-even: 126.7 days

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 2 min ago. 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 Lighter no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	3.36 bp	99.6 bp −$100	325.8 bp −$3,258	doesn't fit	doesn't fit

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
Lighter EDGElong	+0.0096%	1h	0.5949	long leg	$43K	$19K	3x
Bybit EDGEUSDTshort	+0.0100%	4h	0.5947	−0.042%	$7.1M	$3.3M	25x
KuCoin EDGEUSDTM	+0.0100%	4h	0.5959	+0.160%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5956	+0.109%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5958	+0.140%	$62K	$105K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5927	−0.381%	$191K	$133K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5960	+0.178%	$4K	$2.1M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5949	−0.008%	$9K	$306K	50x	as long as short
SunX EDGE-USDT	+0.0100%	4h	0.6207	+4.328%	$4K	$619K	10x	as long as short
edgeX EDGEUSDC	+0.0466%	4h	0.5956	+0.105%	$14.2M	$3.6M	30x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EDGE_USDT	+0.0470%	4h	0.5957	+0.126%	$1.2M	$901K	50x	as long as short
Binance EDGEUSDT	+0.0472%	4h	0.5958	+0.143%	$10.2M	$10.4M	50x	as long as short
Extended EDGE-USD	+0.0472%	1h	0.5956	+0.114%	$27K	$194K	5x	as long as short
BloFin EDGE-USDT	+0.0497%	4h	0.5974	+0.412%	$656K	$102K	50x	as long as short
OKX EDGE-USDT-SWAP	+0.0504%	4h	0.5961	+0.193%	$3.7M	$5.8M	20x	as long as short
Aster EDGEUSDT	+0.0512%	4h	0.5949	−0.011%	$68K	$129K	5x	as long as short
Orderly PERP_EDGE_USDC	+0.0671%	4h	0.5954	+0.076%	$3K	—	10x	as long as short