Funding arb · Price arb /

STABLE

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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 −0.005%

Price spread now: Lighter against BingX+0.529%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$535as in the Funding arb table

Net, price: spread back to 7d avg − costs−$367as in the Price arb table

costs, in and out, $10k−$4144.138% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.217%−$122 on $10k

Price spread, last 4 days (all we have)−0.595%−$59 · spread now +0.529%, 7d avg +0.060%

Together, before fees−1.811%+ Points / potential airdropLighter: Season 3 · farm board−$181 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 0.469% dearer against BingX than usual: you sell high and buy low, +$47 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX STABLE-USDT	0.02456	0.0100	pay 0.0050% / 4h	3h 53m	—	$6.5M	—
Short	Lighter STABLE	0.02469	0.0096	get 0.0012% / 1h	53m 07s	$113K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.529%Rate

Funding earned: −$0.84
Price spread: +0.529% → +0.060%: $46.91
Slippage, 4 orders: −$403.82
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$367.76
Costs to cover: 4.138%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Lighter: live order book, 26 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 BingX live order book, 13 min ago	4.08 bp	29.8 bp −$30	78.4 bp −$784	546.1 bp −$54.6K	1000.0 bp −$500.0K
Sell Lighter live order book, 26 min ago	134.14 bp	145.9 bp −$146	574.7 bp −$5,747	doesn't fit	doesn't fit

STABLE on 15 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
BloFin STABLE-USDT	+0.0057%	4h	0.02454	−0.081%	$113K	$10K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02469	+0.529%	$113K	$10K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02457	+0.041%	$865K	$165K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02456	−0.017%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02457	+0.035%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02458	+0.081%	$1.5M	$764K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02459	+0.122%	$211K	$450K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02456	0.000%	$177K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02456	0.000%	$592K	$158K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02463	+0.285%	$183K	$29K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02457	+0.041%	$283K	$90K	25x	as long as short
BingX STABLE-USDTlong	+0.0100%	4h	0.02456	long leg	—	$6.5M	—
Variational Omni STABLE	+0.0100%	4h	0.02468	+0.492%	$145K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02459	+0.114%	$2K	$945K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02456	+0.007%	$12K	$211K	10x	as long as short