Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.005%

Price spread now: Lighter against MEXC+0.635%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$541as in the Funding arb table

Net, price: spread back to 7d avg − costs−$381as in the Price arb table

costs, in and out, $10k−$4324.325% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.090%−$109 on $10k

Price spread, last 4 days (all we have)−0.560%−$56 · spread now +0.635%, 7d avg +0.122%

Together, before fees−1.650%+ Points / potential airdropLighter: Season 3 · farm board−$165 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: Lighter is 0.513% dearer against MEXC than usual: you sell high and buy low, +$51 on $10k if it goes back to its 7-day average of +0.122%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC STABLE_USDT	0.02426	0.0100	pay 0.0050% / 4h	1h 51m	$604K	$149K	20x
Short	Lighter STABLE	0.02441	0.0096	get 0.0012% / 1h	51m 22s	$112K	$10K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpFee LighterbpOrdersPrice spread, now +0.635%Rate

Funding earned: −$0.84
Price spread: +0.635% → +0.122%: $51.28
Slippage, 4 orders: −$424.47
Fee MEXC: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$382.03
Costs to cover: 4.325%
Break-even: never at this rate

Slippage from MEXC: live order book, 55 min ago; Lighter: live order book, 53 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 MEXC live order book, 55 min ago	2.04 bp	11.3 bp −$11	39.5 bp −$395	209.5 bp −$20.9K	495.8 bp −$247.9K
Sell Lighter live order book, 53 min ago	161.97 bp	172.4 bp −$172	564.0 bp −$5,640	doesn't fit	doesn't fit

STABLE on 15 exchanges

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	+0.0080%	4h	0.02432	+0.247%	$112K	$20K	75x	as long as short
Lighter STABLEshort	+0.0096%	1h	0.02441	+0.635%	$112K	$10K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02429	+0.103%	$851K	$143K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02430	+0.181%	$18K	$9K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02427	+0.031%	$2.5M	$2.5M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02432	+0.256%	$1.5M	$759K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02431	+0.206%	$209K	$407K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02429	+0.124%	$181K	$47K	50x	as long as short
MEXC STABLE_USDTlong	+0.0100%	4h	0.02426	long leg	$604K	$149K	20x
Bitget STABLEUSDT	+0.0100%	4h	0.02431	+0.206%	$281K	$82K	25x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02429	+0.124%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02436	+0.428%	$143K	$8K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02427	+0.025%	$2K	$1.0M	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02426	−0.010%	$14K	$216K	10x	as long as short
KuCoin STABLEUSDTM	+0.0124%	4h	0.02435	+0.371%	$183K	$25K	30x	as long as short