Funding arb · Price arb /

STABLE

all STABLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.005%

Price spread now: Variational Omni against Lighter−0.401%7-day average −0.051% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.286%+$29 on $10k

Price spread, last 4 days (all we have)+0.323%+$32 · spread now −0.401%, 7d avg −0.051%

Together, before fees+0.609%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$61 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: Variational Omni is 0.350% cheaper against Lighter than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter STABLE	0.02470	0.0096	pay 0.0012% / 1h	50m 42s	$113K	$10K	3x
Short	Variational Omni STABLE	0.02460	0.0100	get 0.0050% / 4h	3h 50m	$144K	$8K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.401%Rate

Funding earned: $0.84
Price spread: −0.401% → −0.051%: −$35.03
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$34.19
Costs to cover: 0.000%
Break-even: 291.9 days

Slippage unknown: Lighter: live order book, 28 min ago; Variational Omni: RFQ quote, 48 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, 28 min ago	134.14 bp	209.3 bp −$209	325.0 bp −$3,250	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 48 min ago	10.25 bp	doesn't fit	248.0 bp −$2,480	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	0.02457	−0.506%	$113K	$10K	75x	as long as short
Lighter STABLElong	+0.0096%	1h	0.02470	long leg	$113K	$10K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02458	−0.445%	$865K	$165K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02456	−0.527%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02458	−0.466%	$2.5M	$2.6M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02460	−0.397%	$1.5M	$764K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02466	−0.142%	$213K	$441K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02456	−0.547%	$177K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02457	−0.506%	$592K	$158K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02465	−0.182%	$183K	$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	0.02457	−0.506%	$283K	$89K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02457	−0.506%	—	$6.5M	—	as long as short
Variational Omni STABLEshort	+0.0100%	4h	0.02460	−0.401%	$144K	$8K	—
SunX STABLE-USDT	+0.0100%	4h	0.02460	−0.397%	$2K	$944K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02457	−0.517%	$12K	$211K	10x	as long as short