Funding arb · Price arb /

NOT

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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 +0.011%

Price spread now: Lighter against Bybit+0.298%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 5 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 0.298% dearer against Bybit than usual: you sell high and buy low, +$30 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 NOTUSDT	0.0005036	0.0100	pay 0.0050% / 4h	1h 13m	$2.1M	$815K	25x
Short	Lighter 1000NOT	0.0005051	0.0096	get 0.0012% / 1h	13m 32s	$11K	$5K	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

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 BybitbpFee LighterbpOrdersPrice spread, now +0.298%Rate

Funding earned: −$0.84
Price spread: +0.298% → 0.000%: $29.79
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $17.95
Costs to cover: 0.110%
Break-even: from the start

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	2.98 bp	27.9 bp −$28	121.2 bp −$1,212	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
Variational Omni NOT	−0.0151%	4h	0.0005030	−0.122%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.217%	$1K	$13K	5.5x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0005051	+0.298%	$11K	$5K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.079%	$369K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005039	+0.052%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005039	+0.060%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDTlong	+0.0100%	4h	0.0005036	long leg	$2.1M	$815K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005038	+0.040%	$613K	$584K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005038	+0.040%	$140K	$79K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005039	+0.060%	$1.3M	$466K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005030	−0.119%	$467K	$133K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005040	+0.079%	$662K	$387K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005036	0.000%	—	$722K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005039	+0.058%	$4K	$1K	5x	as long as short
BloFin NOT-USDT	+0.0106%	4h	0.0005037	+0.020%	$110K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.6195%	1h	0.0005045	+0.185%	$49K	$10K	10x	as long as short