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: MEXC against Lighter−0.482%7-day average −0.075% · you buy dearer than you sell

Net, funding: paid 7d − costs−$379as in the Funding arb table

Net, price: spread back to 7d avg − costs−$538as in the Price arb table

costs, in and out, $10k−$4974.970% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+1.184%+$118 on $10k

Price spread, last 4 days (all we have)+0.427%+$43 · spread now −0.482%, 7d avg −0.075%

Together, before fees+1.611%+ Points / potential airdropLighter: Season 3 · farm board+$161 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: MEXC is 0.407% cheaper against Lighter than usual: you would sell low and buy high, −$41 on $10k if it goes back to its 7-day average of −0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02532	0.0096	pay 0.0012% / 1h	30m 10s	$116K	$8K	3x
Short	MEXC STABLE_USDT	0.02520	0.0100	get 0.0050% / 4h	3h 30m	$626K	$168K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.482%Rate

Funding earned: $0.84
Price spread: −0.482% → −0.075%: −$40.73
Slippage, 4 orders: −$489.01
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$536.9
Costs to cover: 4.970%
Break-even: 4481.2 days

Slippage from Lighter: live order book, 24 min ago; MEXC: live order book, 35 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, 24 min ago	114.44 bp	344.4 bp −$344	426.1 bp −$4,261	doesn't fit	doesn't fit
Sell MEXC live order book, 35 min ago	1.98 bp	14.7 bp −$15	48.5 bp −$485	225.3 bp −$22.5K	692.9 bp −$346.4K

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	+0.0047%	4h	0.02506	−1.035%	$117K	$8K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02532	long leg	$116K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02522	−0.403%	$889K	$213K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02519	−0.505%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02521	−0.451%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02524	−0.340%	$1.5M	$773K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02523	−0.363%	$207K	$442K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02520	−0.482%	$176K	$71K	50x	as long as short
MEXC STABLE_USDTshort	+0.0100%	4h	0.02520	−0.482%	$626K	$168K	20x
KuCoin STABLEUSDTM	+0.0100%	4h	0.02527	−0.205%	$181K	$29K	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	0.02520	−0.482%	$295K	$118K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02522	−0.403%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02512	−0.793%	$147K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02520	−0.490%	$1K	$779K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02519	−0.504%	$12K	$177K	10x	as long as short