Funding arb · Price arb /

NOT

all NOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Gate against Lighter−0.232%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 Gate

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: Gate is 0.232% cheaper against Lighter than usual: you would sell low and buy high, −$23 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 1000NOT	0.0005050	0.0096	pay 0.0012% / 1h	27m 36s	$11K	$5K	3x
Short	Gate NOT_USDT	0.0005038	0.0100	get 0.0050% / 4h	1h 27m	$140K	$79K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.232%Rate

Funding earned: $0.84
Price spread: −0.232% → 0.000%: −$23.17
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$37.33
Costs to cover: 0.150%
Break-even: 318.1 days

Slippage unknown: Lighter: no order-book sample; Gate: live order book, 48 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 Gate live order book, 48 min ago	7.92 bp	45.6 bp −$46	doesn't fit	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.

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	−0.0129%	4h	0.0005030	−0.383%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.479%	$1K	$13K	5.5x	as long as short
Lighter 1000NOTlong	+0.0096%	1h	0.0005050	long leg	$11K	$5K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005050	+0.006%	$369K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005041	−0.180%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005042	−0.152%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005036	−0.271%	$2.1M	$818K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005039	−0.212%	$612K	$586K	20x	as long as short
Gate NOT_USDTshort	+0.0100%	4h	0.0005038	−0.232%	$140K	$79K	50x
MEXC NOT_USDT	+0.0100%	4h	0.0005036	−0.271%	$1.3M	$465K	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	0.0005039	−0.212%	$491K	$121K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005041	−0.172%	$662K	$387K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005037	−0.252%	—	$722K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005036	−0.270%	$4K	$1K	5x	as long as short
BloFin NOT-USDT	+0.0150%	4h	0.0005038	−0.232%	$111K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.6163%	1h	0.0005071	+0.425%	$49K	$10K	10x	as long as short