Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0008%/8hnext payment −$0.01 per $10,000 · paid last 24h −0.048%

Price spread now: Lighter against Extended+0.648%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$614as in the Funding arb table

Net, price: spread back to 7d avg − costs−$437as in the Price arb table

costs, in and out, $10k−$4954.949% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.195%−$119 on $10k

Price spread, last 3 days (all we have)−0.566%−$57 · spread now +0.648%, 7d avg +0.070%

Together, before fees−1.761%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$176 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 0.578% dearer against Extended than usual: you sell high and buy low, +$58 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended STABLE-USD	0.02484	0.0104	pay 0.0013% / 1h	6m 04s	$12K	$175K	10x
Short	Lighter STABLE	0.02500	0.0096	get 0.0012% / 1h	6m 04s	$115K	$3K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now +0.648%Rate

Funding earned: −$1.68
Price spread: +0.648% → +0.070%: $57.79
Slippage, 4 orders: −$489.88
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$438.77
Costs to cover: 4.949%
Break-even: never at this rate

Slippage from Extended: live order book, 24 min ago; Lighter: live order book, 20 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 Extended live order book, 24 min ago	4.82 bp	37.7 bp −$38	292.4 bp −$2,924	doesn't fit	doesn't fit
Sell Lighter live order book, 20 min ago	146.87 bp	156.0 bp −$156	535.6 bp −$5,356	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	+0.0004%	4h	0.02489	+0.195%	$21K	$6K	20x	as long as short
Hyperliquid STABLE	+0.0053%	1h	0.02485	+0.036%	$877K	$236K	3x	as long as short
Bybit STABLEUSDT	+0.0083%	4h	0.02486	+0.068%	$1.5M	$809K	25x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02500	+0.648%	$115K	$3K	3x
BloFin STABLE-USDT	+0.0096%	4h	0.02487	+0.108%	$117K	$8K	75x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02484	−0.012%	$2.4M	$2.7M	75x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02490	+0.229%	$205K	$419K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02486	+0.068%	$172K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02484	−0.013%	$564K	$148K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02490	+0.229%	$175K	$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 STABLEUSDT	+0.0100%	4h	0.02487	+0.108%	$291K	$122K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02484	−0.013%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02486	+0.088%	$146K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02486	+0.068%	$1K	$619K	20x	as long as short
Extended STABLE-USDlong	+0.0104%	1h	0.02484	long leg	$12K	$175K	10x