Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.017%

Price spread now: Lighter against Bitget+0.543%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$735as in the Funding arb table

Net, price: spread back to 7d avg − costs−$564as in the Price arb table

costs, in and out, $10k−$6156.153% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.198%−$120 on $10k

Price spread, last 4 days (all we have)−0.554%−$55 · spread now +0.543%, 7d avg +0.032%

Together, before fees−1.752%+ Points / potential airdropLighter: Season 3 · farm board−$175 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 0.511% dearer against Bitget than usual: you sell high and buy low, +$51 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget STABLEUSDT	0.02466	0.0100	pay 0.0050% / 4h	1h 32m	$291K	$116K	25x
Short	Lighter STABLE	0.02479	0.0096	get 0.0012% / 1h	32m 59s	$114K	$3K	3x

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 +0.543%Rate

Funding earned: −$0.84
Price spread: +0.543% → +0.032%: $51.1
Slippage, 4 orders: −$603.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$565.03
Costs to cover: 6.153%
Break-even: never at this rate

Slippage from Bitget: live order book, 42 min ago; Lighter: live order book, 40 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, 42 min ago	6.06 bp	77.3 bp −$77	230.7 bp −$2,307	doesn't fit	doesn't fit
Sell Lighter live order book, 40 min ago	185.38 bp	194.4 bp −$194	568.8 bp −$5,688	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
Aster STABLEUSDT	−0.0223%	4h	0.02468	+0.081%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0073%	4h	0.02463	−0.122%	$112K	$7K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02479	+0.543%	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02465	−0.049%	$869K	$227K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02464	−0.081%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02467	+0.061%	$1.5M	$762K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02464	−0.081%	$203K	$404K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02467	+0.041%	$172K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02465	−0.041%	$658K	$155K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02473	+0.284%	$177K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDTlong	+0.0100%	4h	0.02466	long leg	$291K	$116K	25x
BingX STABLE-USDT	+0.0100%	4h	0.02467	+0.041%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02471	+0.212%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02467	+0.036%	$1K	$656K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02464	−0.099%	$12K	$175K	10x	as long as short