Funding arb · Price arb /

AAPL

RWAall AAPL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Bybit−0.026%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$120.124% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days−0.005%−$1 · spread now −0.026%, 7d avg −0.044%

Together, before fees+0.074%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AAPLUSDT	339.86	0	get 0.0000% / 8h	4m 50s	$6.2M	$164.5M	100x
Short	Lighter AAPL	339.77	0.0032	get 0.0004% / 1h	4m 50s	$942K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.026%Rate

Funding earned: $6.72
Price spread: −0.026% → −0.044%: $1.79
Slippage, 4 orders: −$1.44
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$3.93
Costs to cover: 0.124%
Break-even: 11.1 days

Slippage from Bybit: live order book, 4 min ago; Lighter: live order book, 2 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 Bybit live order book, 4 min ago	0.15 bp	5.6 bp −$6	5.9 bp −$59	22.1 bp −$2,206	doesn't fit
Sell Lighter live order book, 2 min ago	0.47 bp	0.7 bp −$1	1.5 bp −$15	24.9 bp −$2,492	doesn't fit

AAPL on 33 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
edgeX AAPLUSDC	−0.0565%	4h	339.79	−0.021%	$81K	$327K	20x	as long as short
Nado AAPL-PERP	−0.0143%	1h	339.73	−0.038%	$556K	$37K	20x	as long as short
Deribit AAPL_USDC-PERPETUAL	−0.0074%	1h	339.61	−0.074%	$28K	$69K	10x	as long as short
Hotstuff AAPL-PERP	−0.0048%	1h	339.75	−0.032%	$36K	—	20x	as long as short
Aster AAPLUSDT	0.0000%	8h	339.73	−0.037%	$121K	$294K	20x	as long as short
Extended AAPL_24_5-USD	0.0000%	1h	339.76	−0.028%	$286K	$2.1M	10x	as long as short
Binance AAPLUSDT	0.0000%	8h	339.84	−0.007%	$22.1M	$67.3M	25x	as long as short
Bybit AAPLUSDTlong	0.0000%	8h	339.86	long leg	$6.2M	$164.5M	100x
OKX AAPL-USDT-SWAP	0.0000%	8h	339.77	−0.026%	$6.3M	$6.9M	25x	as long as short
Gate AAPL_USDT	0.0000%	8h	339.65	−0.062%	$3.0M	$5.6M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AAPLUSDT	0.0000%	8h	339.82	−0.012%	$6.2M	$3.6M	100x	as long as short
Variational Omni AAPL	0.0000%	8h	339.86	−0.001%	$2.5M	$1.2M	—	as long as short
GRVT AAPL_USDT_Perp	0.0000%	8h	339.84	−0.006%	$13K	$357K	10x	as long as short
SunX AAPL-USDT	0.0000%	8h	339.84	−0.006%	$585	$4.5M	20x	as long as short
HTX AAPL-USDT	0.0000%	8h	339.88	+0.006%	$62K	$245K	30x	as long as short
Phemex AAPLUSDT	0.0000%	4h	339.84	−0.006%	$2.1M	$7K	10x	as long as short
BloFin AAPL-USDT	+0.0003%	8h	339.84	−0.006%	$344K	$167K	20x	as long as short
QFEX AAPL-USD	+0.0027%	1h	339.77	−0.026%	$3.2M	$4.2M	10x	as long as short
Lighter AAPLshort	+0.0032%	1h	339.77	−0.026%	$942K	$2.7M	20x
Lighter RH AAPL	+0.0032%	1h	339.76	−0.029%	$954K	$3.5M	20x	as long as short
Arcus AAPL-USD	+0.0040%	1h	339.70	−0.047%	$267K	$60K	20x	as long as short
Vest AAPL-USD-PERP	+0.0046%	1h	339.68	−0.053%	—	$45K	25x	as long as short
tradeXYZ xyz:AAPL	+0.0050%	1h	339.77	−0.026%	$40.6M	$76.2M	20x	as long as short
Polymarket Perps AAPL-USD	+0.0050%	1h	339.72	−0.041%	$279K	$423K	10x	as long as short
SoDEX AAPL-USD	+0.0050%	1h	339.79	−0.021%	$75K	$3K	10x	as long as short
Ondo Perps AAPL-USD.P	+0.0050%	1h	339.64	−0.065%	$1.3M	$2.3M	20x	as long as short
Coinbase International AAPL-PERP-INTX	+0.0064%	1h	339.55	−0.091%	$660K	$660K	10x	as long as short
KuCoin AAPLUSDTM	+0.0100%	8h	339.70	−0.047%	$1.4M	$55K	20x	as long as short
ApeX Omni AAPLUSDT	+0.0100%	1h	339.73	−0.038%	$949K	$11.0M	50x	as long as short
Orderly PERP_AAPL_USDC_mythos	+0.0100%	8h	339.72	−0.041%	$4K	—	10x	as long as short
Aevo AAPL-PERP	+0.0104%	1h	339.75	−0.031%	$11K	$102	10x	as long as short
Injective AAPL/USDC PERP	+0.0220%	1h	339.67	−0.056%	$191K	$44K	30x	as long as short
Phoenix AAPL	+0.0259%	1h	339.96	+0.029%	$5K	$12K	20x	as long as short