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: Lighter against MEXC+0.187%7-day average — · you sell dearer than you buy

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

Long on MEXC 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 0.187% dearer against MEXC 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	MEXC NOT_USDT	0.0005040	0.0100	pay 0.0050% / 4h	51m 53s	$1.4M	$452K	200x
Short	Lighter 1000NOT	0.0005049	0.0096	get 0.0012% / 1h	51m 53s	$11K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.187%Rate

Funding earned: −$0.84
Price spread: +0.187% → 0.000%: $18.65
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $13.81
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 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 MEXC live order book, 4 min ago	3.99 bp	9.2 bp −$9	32.7 bp −$327	94.1 bp −$9,405	112.4 bp −$56.2K
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	−0.0035%	4h	0.0005012	−0.564%	$71K	$38K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.294%	$1K	$13K	5.5x	as long as short
Lighter 1000NOTshort	+0.0096%	1h	0.0005049	+0.187%	$11K	$6K	3x
Hyperliquid NOT	+0.0100%	1h	0.0005040	0.000%	$339K	$65K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005039	−0.012%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005040	+0.002%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005031	−0.179%	$2.1M	$820K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005043	+0.060%	$642K	$661K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005040	0.000%	$139K	$53K	50x	as long as short
MEXC NOT_USDTlong	+0.0100%	4h	0.0005040	long leg	$1.4M	$452K	200x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005034	−0.119%	$480K	$132K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005042	+0.040%	$676K	$456K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005036	−0.079%	—	$8.5M	—	as long as short
BloFin NOT-USDT	+0.0102%	4h	0.0005035	−0.099%	$109K	$18K	50x	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005039	−0.026%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0444%	1h	0.0005046	+0.123%	$49K	$7K	10x	as long as short