Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0048%/8h= +5.3% APRnext payment +$0.06 per $10,000 · paid last 24h —

Price spread now: Coinbase International against Lighter−0.451%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Coinbase International is 0.451% cheaper against Lighter than usual: you would sell low and buy high (spread −0.451% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$45 on $10k: about 31 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BE	272.67	0.0032	pay 0.0004% / 1h	30m 26s	—	—	10x
Short	Coinbase International BE-PERP-INTX	271.44	0.0080	get 0.0010% / 1h	30m 26s	$466K	$116K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.451%Rate

Funding earned: $10.08
Price spread: −0.451% → 0.000%: −$45.11
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$45.03
Costs to cover: 0.100%
Break-even: 38.3 days

Slippage unknown: Lighter: no order-book sample; Coinbase International: live order book, 18 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 no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 18 min ago	3.48 bp	8.5 bp −$9	18.5 bp −$185	doesn't fit	doesn't fit

Lighter: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BE on 21 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 BEUSDT	0.0000%	8h	272.85	+0.066%	$343K	$116K	20x	as long as short
Extended BE-USD	0.0000%	1h	272.93	+0.094%	$46K	$270K	10x	as long as short
Binance BEUSDT	0.0000%	8h	272.88	+0.077%	$8.5M	$37.2M	25x	as long as short
Bybit BEUSDT	0.0000%	8h	272.83	+0.059%	$2.0M	$1.2M	25x	as long as short
OKX BE-USDT-SWAP	0.0000%	8h	272.89	+0.081%	$2.6M	$6.7M	25x	as long as short
Gate BE_USDT	0.0000%	8h	272.70	+0.011%	$1.5M	$3.8M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	272.73	+0.022%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	272.73	+0.022%	$7K	$196K	10x	as long as short
SunX BE-USDT	0.0000%	8h	272.77	+0.037%	$936	$2.6M	10x	as long as short
HTX BE-USDT	0.0000%	8h	272.75	+0.029%	$13K	$33K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX BE-USD	+0.0029%	1h	272.81	+0.051%	$1.3M	$3.5M	10x	as long as short
Lighter BElong	+0.0032%	1h	272.67	long leg	—	—	10x
Lighter RH BE	+0.0032%	1h	272.81	+0.051%	$249K	$481K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	272.65	−0.007%	$114K	$134K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	272.63	−0.015%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	272.73	+0.022%	$5.8M	$2.9M	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0080%	1h	271.44	−0.451%	$466K	$116K	10x
KuCoin BEUSDTM	+0.0100%	8h	272.76	+0.033%	$369K	$26K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	272.88	+0.075%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	272.97	+0.110%	$45K	$140K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0520%	1h	272.85	+0.066%	$6K	$4K	10x	as long as short