Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: OKX against Lighter−0.228%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 OKX

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: OKX is 0.228% 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	0.0005041	0.0096	pay 0.0012% / 1h	12m 16s	$11K	$6K	3x
Short	OKX NOT-USDT-SWAP	0.0005029	0.0100	get 0.0050% / 4h	12m 16s	$644K	$654K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.228%Rate

Funding earned: $0.84
Price spread: −0.228% → 0.000%: −$22.82
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.98
Costs to cover: 0.100%
Break-even: 273.5 days

Slippage unknown: Lighter: no order-book sample; OKX: live order book, 24 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 OKX live order book, 24 min ago	2.98 bp	44.9 bp −$45	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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.303%	$1K	$13K	5.5x	as long as short
Variational Omni NOT	+0.0061%	4h	0.0005018	−0.452%	$71K	$38K	—	as long as short
BloFin NOT-USDT	+0.0068%	4h	0.0005027	−0.268%	$109K	$18K	50x	as long as short
Lighter 1000NOTlong	+0.0096%	1h	0.0005041	long leg	$11K	$6K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005020	−0.407%	$339K	$64K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005034	−0.127%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005027	−0.264%	$2.1M	$2.9M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005029	−0.228%	$2.1M	$823K	25x	as long as short
OKX NOT-USDT-SWAPshort	+0.0100%	4h	0.0005029	−0.228%	$644K	$654K	20x
Gate NOT_USDT	+0.0100%	4h	0.0005020	−0.407%	$139K	$55K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005029	−0.228%	$1.3M	$467K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005028	−0.248%	$488K	$134K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005032	−0.169%	$674K	$472K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005033	−0.149%	—	$731K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005026	−0.291%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0445%	1h	0.0005030	−0.212%	$49K	$5K	10x	as long as short