Funding arb · Price arb /

NOT

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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 −0.001%

Price spread now: Lighter against BingX+0.194%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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 0.194% dearer against BingX than usual: you sell high and buy low, +$19 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	BingX NOT-USDC	0.0005048	0.0100	pay 0.0050% / 4h	3h 02m	—	$734K	—
Short	Lighter 1000NOT	0.0005058	0.0096	get 0.0012% / 1h	2m 10s	$11K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.194%Rate

Funding earned: −$0.84
Price spread: +0.194% → 0.000%: $19.41
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $8.57
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 41 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 BingX live order book, 41 min ago	3.99 bp	162.4 bp −$162	doesn't fit	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.

NOT on 16 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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.447%	$1K	$13K	5.5x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0005058	+0.194%	$11K	$6K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005050	+0.040%	$340K	$66K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005050	+0.048%	$14K	$3K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005047	−0.020%	$2.1M	$2.8M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005045	−0.059%	$2.1M	$810K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005050	+0.040%	$644K	$657K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005050	+0.040%	$141K	$59K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005047	−0.020%	$1.4M	$464K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005044	−0.079%	$494K	$134K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NOTUSDT	+0.0100%	4h	0.0005054	+0.119%	$679K	$480K	50x	as long as short
BingX NOT-USDClong	+0.0100%	4h	0.0005048	long leg	—	$734K	—
Variational Omni NOT	+0.0100%	4h	0.0005044	−0.076%	$72K	$38K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005046	−0.047%	$4K	—	5x	as long as short
BloFin NOT-USDT	+0.0130%	4h	0.0005056	+0.158%	$108K	$18K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.1148%	1h	0.0005051	+0.063%	$49K	$5K	10x	as long as short