Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h −0.005%

Price spread now: Lighter against BloFin+0.435%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$557as in the Funding arb table

Net, price: spread back to 7d avg − costs−$405as in the Price arb table

costs, in and out, $10k−$4404.405% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.165%−$116 on $10k

Price spread, last 4 days (all we have)−0.637%−$64 · spread now +0.435%, 7d avg +0.076%

Together, before fees−1.802%+ Points / potential airdropLighter: Season 3 · farm board−$180 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.358% dearer against BloFin than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.076%. Mind the row above: over the last 7 days funding on this pair cost −1.165%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin STABLE-USDT	0.02485	0.0081	pay 0.0041% / 4h	1h 09m	$119K	$7K	75x
Short	Lighter STABLE	0.02496	0.0096	get 0.0012% / 1h	9m 02s	$115K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.435%Rate

Funding earned: $3.12
Price spread: +0.435% → +0.076%: $35.82
Slippage, 4 orders: −$428.49
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$401.55
Costs to cover: 4.405%
Break-even: 906.8 days

Slippage from BloFin: live order book, 27 min ago; Lighter: live order book, 35 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 BloFin live order book, 27 min ago	2.02 bp	15.9 bp −$16	50.7 bp −$507	doesn't fit	doesn't fit
Sell Lighter live order book, 35 min ago	148.77 bp	158.1 bp −$158	554.7 bp −$5,547	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-USDTlong	+0.0081%	4h	0.02485	long leg	$119K	$7K	75x
Lighter STABLEshort	+0.0096%	1h	0.02496	+0.435%	$115K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02483	−0.089%	$873K	$177K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02483	−0.063%	$19K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02483	−0.080%	$2.6M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02485	+0.016%	$1.5M	$726K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02483	−0.080%	$199K	$378K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02483	−0.080%	$175K	$58K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02481	−0.161%	$614K	$169K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02491	+0.241%	$184K	$28K	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	0.02482	−0.121%	$285K	$92K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02483	−0.080%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02491	+0.222%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02481	−0.165%	$1K	$834K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02481	−0.145%	$14K	$138K	10x	as long as short