Funding arb · Price arb /

BE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0041%/8h= −4.5% APRnext payment −$0.05 per $10,000 · paid last 24h —

Price spread now: Lighter against QFEX−0.011%7-day average — · you buy dearer than you sell

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

Long on QFEX Short on Lighter

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

The price spread sits at zero (this spread has no 7-day history yet), 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	QFEX BE-USD	274.20	0.0073	pay 0.0009% / 1h	38m 55s	$1.3M	$3.8M	10x
Short	Lighter BE	274.17	0.0032	get 0.0004% / 1h	38m 55s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against QFEX. 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 QFEXbpFee LighterbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$8.6
Price spread: −0.011% → 0.000%: −$1.09
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.7
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 4 min ago; Lighter: no order-book sample. 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 QFEX live order book, 4 min ago	1.82 bp	6.8 bp −$7	11.8 bp −$118	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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	274.51	+0.112%	$345K	$118K	20x	as long as short
Bybit BEUSDT	0.0000%	8h	274.17	−0.011%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	274.00	−0.073%	$1.5M	$3.7M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	274.14	−0.022%	$1.7M	$2.7M	20x	as long as short
SunX BE-USDT	0.0000%	8h	274.16	−0.015%	$1K	$2.6M	10x	as long as short
Deribit BE_USDC-PERPETUAL	0.0000%	1h	274.23	+0.011%	$7K	$4K	10x	as long as short
HTX BE-USDT	0.0000%	8h	274.20	0.000%	$13K	$33K	20x	as long as short
Lighter BEshort	+0.0032%	1h	274.17	−0.011%	—	—	10x
Lighter RH BE	+0.0032%	1h	274.17	−0.011%	$250K	$380K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	274.01	−0.069%	$114K	$122K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest BE-USD-PERP	+0.0046%	1h	274.26	+0.022%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	274.06	−0.051%	$5.9M	$2.9M	10x	as long as short
QFEX BE-USDlong	+0.0073%	1h	274.20	long leg	$1.3M	$3.8M	10x
Extended BE-USD	+0.0088%	1h	274.22	+0.009%	$46K	$270K	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0088%	1h	274.13	−0.026%	$469K	$123K	10x	as long as short
Binance BEUSDT	+0.0089%	8h	274.27	+0.026%	$8.5M	$37.0M	25x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	274.12	−0.029%	$370K	$23K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	274.19	−0.004%	—	—	10x	as long as short
GRVT BE_USDT_Perp	+0.0138%	8h	274.13	−0.025%	$6K	$183K	10x	as long as short
BloFin BE-USDT	+0.0209%	8h	274.16	−0.015%	$45K	$141K	20x	as long as short
OKX BE-USDT-SWAP	+0.0233%	8h	274.34	+0.051%	$2.6M	$6.8M	25x	as long as short