Funding arb · Price arb /

S

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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 Bitget−0.070%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$910.907% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.816%−$82 on $10k

Price spread, last 4 days (all we have)+0.513%+$51 · spread now −0.070%, 7d avg −0.009%

Together, before fees−0.303%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.061% cheaper against Bitget than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.04277	0.0100	pay 0.0050% / 4h	3h 50m	$1.3M	$2.7M	50x
Short	Lighter S	0.04274	0.0096	get 0.0012% / 1h	50m 35s	$183K	$99K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.070%Rate

Funding earned: −$0.84
Price spread: −0.070% → −0.009%: −$6.1
Slippage, 4 orders: −$78.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$97.66
Costs to cover: 0.907%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Lighter: live order book, 29 min ago.

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 Bitget live order book, 2 min ago	8.18 bp	24.2 bp −$24	93.8 bp −$938	doesn't fit	doesn't fit
Sell Lighter live order book, 29 min ago	16.64 bp	30.4 bp −$30	118.7 bp −$1,187	doesn't fit	doesn't fit

S on 25 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
Kraken Futures PF_SUSD	−0.2654%	1h	0.04276	−0.030%	$35K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04238	−0.912%	$52K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04285	+0.199%	$2K	—	100x	as long as short
Variational Omni S	−0.0114%	4h	0.04280	+0.065%	$660K	$7K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04283	+0.130%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04287	+0.223%	$661	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−4.138%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0078%	4h	0.04281	+0.094%	$106K	$618K	10x	as long as short
Lighter Sshort	+0.0096%	1h	0.04274	−0.070%	$183K	$99K	5x
Hyperliquid S	+0.0100%	1h	0.04274	−0.068%	$1.1M	$708K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0100%	4h	0.04274	−0.068%	$46K	$175K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04271	−0.137%	$6.2M	$16.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04276	−0.023%	$6.1M	$4.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04275	−0.047%	$1.2M	$4.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04270	−0.164%	$357K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04275	−0.047%	$4.4M	$2.2M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04266	−0.257%	$2.0M	$2.8M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.04277	long leg	$1.3M	$2.7M	50x
BingX S-USDT	+0.0100%	4h	0.04273	−0.094%	—	$6.9M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.04280	+0.070%	$101K	$472K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04280	+0.070%	$25K	$507K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04269	−0.177%	$237K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04269	−0.187%	$317K	$121K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0683%	1h	0.04289	+0.281%	$72K	$10K	10x	as long as short
01 Exchange SUSD	+0.6336%	1h	0.04270	−0.164%	$26K	$2K	5x	as long as short