Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.008%

Price spread now: BingX against Lighter−0.576%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$398as in the Funding arb table

Net, price: spread back to 7d avg − costs−$584as in the Price arb table

costs, in and out, $10k−$5285.282% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.297%+$130 on $10k

Price spread, last 4 days (all we have)+0.631%+$63 · spread now −0.576%, 7d avg −0.021%

Together, before fees+1.928%+ Points / potential airdropLighter: Season 3 · farm board+$193 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: BingX is 0.555% cheaper against Lighter than usual: you would sell low and buy high, −$56 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02517	0.0096	pay 0.0012% / 1h	6m 44s	$116K	$8K	3x
Short	BingX STABLE-USDT	0.02503	0.0100	get 0.0050% / 4h	3h 06m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.576%Rate

Funding earned: $0.84
Price spread: −0.576% → −0.021%: −$55.51
Slippage, 4 orders: −$518.17
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$582.84
Costs to cover: 5.282%
Break-even: 4864.0 days

Slippage from Lighter: live order book, 48 min ago; BingX: live order book, 15 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, 48 min ago	114.44 bp	344.4 bp −$344	426.1 bp −$4,261	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	5.97 bp	32.1 bp −$32	74.9 bp −$749	530.2 bp −$53.0K	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
Lighter STABLElong	+0.0096%	1h	0.02517	long leg	$116K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02502	−0.620%	$882K	$209K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02506	−0.455%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02501	−0.673%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02503	−0.576%	$1.5M	$764K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02505	−0.497%	$203K	$428K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02503	−0.576%	$174K	$72K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02502	−0.616%	$621K	$172K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02512	−0.218%	$186K	$30K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02502	−0.616%	$293K	$96K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDTshort	+0.0100%	4h	0.02503	−0.576%	—	$6.5M	—
Variational Omni STABLE	+0.0100%	4h	0.02509	−0.334%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02504	−0.540%	$1K	$790K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02503	−0.567%	$14K	$146K	10x	as long as short
BloFin STABLE-USDT	+0.0151%	4h	0.02502	−0.616%	$116K	$7K	75x	as long as short