Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.006%

Price spread now: OKX against Lighter−0.584%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$325as in the Funding arb table

Net, price: spread back to 7d avg − costs−$482as in the Price arb table

costs, in and out, $10k−$4274.265% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.018%+$102 on $10k

Price spread, last 4 days (all we have)+0.568%+$57 · spread now −0.584%, 7d avg −0.028%

Together, before fees+1.585%+ Points / potential airdropLighter: Season 3 · farm board+$159 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: OKX 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 −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02484	0.0096	pay 0.0012% / 1h	20m 17s	$114K	$6K	3x
Short	OKX STABLE-USDT-SWAP	0.02470	0.0100	get 0.0050% / 4h	20m 17s	$195K	$393K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.584%Rate

Funding earned: $0.84
Price spread: −0.584% → −0.028%: −$55.53
Slippage, 4 orders: −$416.53
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$481.22
Costs to cover: 4.265%
Break-even: 4017.1 days

Slippage from Lighter: live order book, 19 min ago; OKX: 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, 19 min ago	117.43 bp	196.0 bp −$196	336.9 bp −$3,369	doesn't fit	doesn't fit
Sell OKX live order book, 35 min ago	6.10 bp	38.4 bp −$38	2444.6 bp −$24.4K	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
BloFin STABLE-USDT	+0.0071%	4h	0.02474	−0.423%	$117K	$7K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02484	long leg	$114K	$6K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02469	−0.608%	$867K	$186K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02471	−0.553%	$18K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02469	−0.614%	$2.5M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02473	−0.463%	$1.5M	$772K	25x	as long as short
OKX STABLE-USDT-SWAPshort	+0.0100%	4h	0.02470	−0.584%	$195K	$393K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02472	−0.503%	$175K	$59K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02470	−0.584%	$591K	$162K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02476	−0.342%	$180K	$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	0.02472	−0.503%	$283K	$90K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02474	−0.423%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02475	−0.381%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02469	−0.628%	$2K	$858K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02470	−0.588%	$12K	$133K	10x	as long as short