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: SunX against Lighter−0.480%7-day average −0.016% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.445%+$145 on $10k

Price spread, last 3 days (all we have)+0.607%+$61 · spread now −0.480%, 7d avg −0.016%

Together, before fees+2.052%+ Points / potential airdropLighter: Season 3 · farm board+$205 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: SunX is 0.464% cheaper against Lighter than usual: you would sell low and buy high, −$46 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02481	0.0096	pay 0.0012% / 1h	3m 53s	$114K	$3K	3x
Short	SunX STABLE-USDT	0.02470	0.0100	get 0.0050% / 4h	2h 03m	$1K	$648K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.480%Rate

Funding earned: $0.84
Price spread: −0.480% → −0.016%: −$46.38
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$53.54
Costs to cover: 0.080%
Break-even: 453.1 days

Slippage unknown: Lighter: live order book, 9 min ago; SunX: live order book, 7 min ago. Net counts fees only.

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, 9 min ago	185.38 bp	292.8 bp −$293	320.9 bp −$3,209	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	499.22 bp	doesn't fit	doesn't fit	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	−0.0353%	4h	0.02468	−0.535%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0090%	4h	0.02469	−0.500%	$114K	$8K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02481	long leg	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02467	−0.592%	$870K	$234K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02466	−0.624%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02469	−0.488%	$1.5M	$800K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02470	−0.459%	$204K	$415K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02470	−0.459%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02466	−0.621%	$658K	$159K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02471	−0.419%	$174K	$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 STABLEUSDT	+0.0100%	4h	0.02467	−0.580%	$291K	$116K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02469	−0.500%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02470	−0.444%	$145K	$50K	—	as long as short
SunX STABLE-USDTshort	+0.0100%	4h	0.02470	−0.480%	$1K	$648K	20x
Extended STABLE-USD	+0.0104%	1h	0.02466	−0.635%	$12K	$175K	10x	as long as short