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: Binance against Lighter−0.523%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$415as in the Funding arb table

Net, price: spread back to 7d avg − costs−$580as in the Price arb table

costs, in and out, $10k−$5355.348% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+1.193%+$119 on $10k

Price spread, last 4 days (all we have)+0.500%+$50 · spread now −0.523%, 7d avg −0.070%

Together, before fees+1.693%+ Points / potential airdropLighter: Season 3 · farm board+$169 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: Binance is 0.454% cheaper against Lighter than usual: you would sell low and buy high, −$45 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	Lighter STABLE	0.02479	0.0096	pay 0.0012% / 1h	28m 19s	$114K	$3K	3x
Short	Binance STABLEUSDT	0.02466	0.0100	get 0.0050% / 4h	1h 28m	$2.4M	$2.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −0.523%Rate

Funding earned: $0.84
Price spread: −0.523% → −0.070%: −$45.35
Slippage, 4 orders: −$524.79
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$579.3
Costs to cover: 5.348%
Break-even: 4834.5 days

Slippage from Lighter: live order book, 45 min ago; Binance: live order book, 7 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 Lighter live order book, 45 min ago	185.38 bp	292.8 bp −$293	320.9 bp −$3,209	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.03 bp	22.4 bp −$22	81.7 bp −$817	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	−0.0195%	4h	0.02468	−0.460%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0062%	4h	0.02460	−0.782%	$113K	$7K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02479	long leg	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02467	−0.500%	$869K	$227K	3x	as long as short
Binance STABLEUSDTshort	+0.0100%	4h	0.02466	−0.523%	$2.4M	$2.7M	75x
Bybit STABLEUSDT	+0.0100%	4h	0.02468	−0.460%	$1.5M	$762K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02466	−0.540%	$203K	$405K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02466	−0.540%	$172K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02466	−0.540%	$658K	$156K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02472	−0.298%	$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 STABLEUSDT	+0.0100%	4h	0.02468	−0.460%	$291K	$116K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02467	−0.500%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02468	−0.452%	$144K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02468	−0.452%	$1K	$656K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02466	−0.542%	$12K	$175K	10x	as long as short