Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h +0.007%

Price spread now: BloFin against Lighter−0.579%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$395as in the Funding arb table

Net, price: spread back to 7d avg − costs−$564as in the Price arb table

costs, in and out, $10k−$5135.131% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.181%+$118 on $10k

Price spread, last 3 days (all we have)+0.558%+$56 · spread now −0.579%, 7d avg −0.069%

Together, before fees+1.739%+ Points / potential airdropLighter: Season 3 · farm board+$174 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.511% cheaper against Lighter than usual: you would sell low and buy high (spread −0.579% now, against its 7-day average of −0.069%). If the spread goes back, that is −$51 on $10k: about 43 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+1.181% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02520	0.0096	pay 0.0012% / 1h	32m 45s	$116K	$8K	3x
Short	BloFin STABLE-USDT	0.02505	0.0135	get 0.0068% / 4h	3h 32m	$116K	$8K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.579%Rate

Funding earned: $8.24
Price spread: −0.579% → −0.069%: −$51.06
Slippage, 4 orders: −$501.1
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$555.92
Costs to cover: 5.131%
Break-even: 479.4 days

Slippage from Lighter: live order book, 22 min ago; BloFin: live order book, 22 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, 22 min ago	114.44 bp	344.4 bp −$344	426.1 bp −$4,261	doesn't fit	doesn't fit
Sell BloFin live order book, 22 min ago	3.99 bp	17.7 bp −$18	51.3 bp −$513	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
Lighter STABLElong	+0.0096%	1h	0.02520	long leg	$116K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02509	−0.421%	$885K	$212K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02507	−0.482%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02508	−0.445%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02510	−0.381%	$1.5M	$765K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02507	−0.500%	$203K	$433K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02506	−0.540%	$174K	$71K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02507	−0.500%	$623K	$168K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02515	−0.183%	$180K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02509	−0.421%	$293K	$118K	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-USDT	+0.0100%	4h	0.02507	−0.500%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02510	−0.377%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02505	−0.579%	$2K	$775K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02508	−0.467%	$12K	$177K	10x	as long as short
BloFin STABLE-USDTshort	+0.0135%	4h	0.02505	−0.579%	$116K	$8K	75x