Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.006%

Price spread now: Lighter against Gate+0.566%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$784as in the Funding arb table

Net, price: spread back to 7d avg − costs−$597as in the Price arb table

costs, in and out, $10k−$6466.458% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.387%−$139 on $10k

Price spread, last 4 days (all we have)−0.628%−$63 · spread now +0.566%, 7d avg +0.081%

Together, before fees−2.015%+ Points / potential airdropLighter: Season 3 · farm board−$201 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 0.485% dearer against Gate than usual: you sell high and buy low, +$48 on $10k if it goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate STABLE_USDT	0.02458	0.0100	pay 0.0050% / 4h	45m 13s	$174K	$59K	50x
Short	Lighter STABLE	0.02472	0.0096	get 0.0012% / 1h	45m 13s	$113K	$6K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.566%Rate

Funding earned: −$0.84
Price spread: +0.566% → +0.081%: $48.49
Slippage, 4 orders: −$630.76
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$598.11
Costs to cover: 6.458%
Break-even: never at this rate

Slippage from Gate: live order book, 6 min ago; Lighter: live order book, 59 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 Gate live order book, 6 min ago	6.11 bp	110.6 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 59 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-USDT	+0.0059%	4h	0.02458	0.000%	$118K	$7K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02472	+0.566%	$113K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02459	+0.061%	$864K	$187K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02457	−0.031%	$18K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02458	+0.014%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02462	+0.155%	$1.5M	$774K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02456	−0.081%	$202K	$382K	20x	as long as short
Gate STABLE_USDTlong	+0.0100%	4h	0.02458	long leg	$174K	$59K	50x
MEXC STABLE_USDT	+0.0100%	4h	0.02458	0.000%	$588K	$161K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02464	+0.244%	$182K	$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	0.02460	+0.081%	$282K	$90K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02460	+0.081%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02463	+0.185%	$144K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02458	−0.004%	$1K	$855K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02458	−0.001%	$12K	$138K	10x	as long as short