Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.021%

Price spread now: Bitget against Lighter−0.538%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$486as in the Funding arb table

Net, price: spread back to 7d avg − costs−$657as in the Price arb table

costs, in and out, $10k−$6066.061% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.198%+$120 on $10k

Price spread, last 4 days (all we have)+0.503%+$50 · spread now −0.538%, 7d avg −0.026%

Together, before fees+1.701%+ Points / potential airdropLighter: Season 3 · farm board+$170 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: Bitget is 0.513% cheaper against Lighter than usual: you would sell low and buy high, −$51 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02489	0.0096	pay 0.0012% / 1h	28m 46s	$114K	$3K	3x
Short	Bitget STABLEUSDT	0.02476	0.0100	get 0.0050% / 4h	2h 28m	$292K	$116K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.538%Rate

Funding earned: $0.84
Price spread: −0.538% → −0.026%: −$51.27
Slippage, 4 orders: −$594.08
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$656.51
Costs to cover: 6.061%
Break-even: 5477.9 days

Slippage from Lighter: live order book, 53 min ago; Bitget: live order book, 54 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, 53 min ago	177.29 bp	291.2 bp −$291	338.0 bp −$3,380	doesn't fit	doesn't fit
Sell Bitget live order book, 54 min ago	2.02 bp	57.7 bp −$58	209.5 bp −$2,095	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	−0.0296%	4h	0.02474	−0.600%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0058%	4h	0.02474	−0.619%	$114K	$8K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02489	long leg	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02475	−0.578%	$872K	$235K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02474	−0.603%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02476	−0.522%	$1.5M	$818K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02476	−0.538%	$204K	$418K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02474	−0.619%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02474	−0.619%	$660K	$157K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02478	−0.458%	$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 STABLEUSDTshort	+0.0100%	4h	0.02476	−0.538%	$292K	$116K	25x
BingX STABLE-USDT	+0.0100%	4h	0.02477	−0.498%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02478	−0.462%	$145K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02477	−0.510%	$2K	$646K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02475	−0.590%	$12K	$175K	10x	as long as short