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: Lighter against SunX+0.665%7-day average +0.034% · you sell dearer than you buy

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.438%−$144 on $10k

Price spread, last 3 days (all we have)−0.737%−$74 · spread now +0.665%, 7d avg +0.034%

Together, before fees−2.175%+ Points / potential airdropLighter: Season 3 · farm board−$218 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 0.631% dearer against SunX than usual: you sell high and buy low, +$63 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX STABLE-USDT	0.02498	0.0100	pay 0.0050% / 4h	3h 06m	$1K	$790K	20x
Short	Lighter STABLE	0.02515	0.0096	get 0.0012% / 1h	6m 06s	$115K	$8K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.665%Rate

Funding earned: −$0.84
Price spread: +0.665% → +0.034%: $63.1
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $54.26
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 45 min ago; Lighter: live order book, 49 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 SunX live order book, 45 min ago	500.22 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 49 min ago	114.44 bp	125.2 bp −$125	502.7 bp −$5,027	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
Lighter STABLEshort	+0.0096%	1h	0.02515	+0.665%	$115K	$8K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02502	+0.156%	$882K	$209K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02503	+0.203%	$19K	$7K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02500	+0.076%	$2.5M	$2.9M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02503	+0.196%	$1.5M	$764K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02505	+0.276%	$203K	$428K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02502	+0.156%	$174K	$72K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02500	+0.076%	$621K	$172K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02511	+0.516%	$186K	$30K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02501	+0.116%	$292K	$96K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02503	+0.196%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02503	+0.198%	$146K	$50K	—	as long as short
SunX STABLE-USDTlong	+0.0100%	4h	0.02498	long leg	$1K	$790K	20x
Extended STABLE-USD	+0.0104%	1h	0.02499	+0.031%	$14K	$146K	10x	as long as short
BloFin STABLE-USDT	+0.0151%	4h	0.02502	+0.156%	$116K	$7K	75x	as long as short