Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h −0.041%

Price spread now: Lighter against Gate−0.029%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 7 days−0.023%−$2 · spread now −0.029%, 7d avg −0.084%

Together, before fees−0.140%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.055% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.084%. Mind the row above: over the last 7 days funding on this pair cost −0.116%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COIN_USDT	196.82	−0.0221	get 0.0221% / 8h	3h 18m	$1.2M	$7.3M	50x
Short	Lighter COIN	196.76	0.0064	get 0.0008% / 1h	18m 12s	$385K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.029%Rate

Funding earned: $59.85
Price spread: −0.029% → −0.084%: $5.5
Slippage, 4 orders: −$15.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: $34.58
Costs to cover: 0.308%
Break-even: 3.0 days

Slippage from Gate: live order book, 5 min ago; Lighter: live order book, 3 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 Gate live order book, 5 min ago	4.84 bp	13.8 bp −$14	129.9 bp −$1,299	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.03 bp	0.3 bp $0	2.5 bp −$25	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0732%	8h	196.84	+0.010%	$6.2M	$10.5M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.73	−0.046%	$43K	$48K	30x	as long as short
Gate COIN_USDTlong	−0.0221%	8h	196.82	long leg	$1.2M	$7.3M	50x
Vest COIN-USD-PERP	−0.0108%	1h	196.12	−0.356%	—	$262K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.71	−0.056%	$343K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.72	−0.053%	$116K	$659K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.83	+0.005%	$14.7M	$80.3M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.81	−0.005%	$4.8M	$6.1M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.67	−0.076%	$3.0M	$4.7M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.75	−0.035%	$683K	$939K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.74	−0.039%	$12K	$2.4M	10x	as long as short
QFEX COIN-USD	+0.0020%	1h	196.68	−0.071%	$1.3M	$3.2M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.72	−0.051%	$455K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.76	−0.030%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.72	−0.051%	$15.3M	$13.6M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.59	−0.117%	$133K	$1.2M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.72	−0.051%	$89	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.59	−0.117%	$359K	$2.7M	10x	as long as short
Lighter COINshort	+0.0064%	1h	196.76	−0.029%	$385K	$2.1M	10x
KuCoin COINUSDTM	+0.0100%	8h	196.76	−0.030%	$992K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.62	−0.102%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.74	−0.041%	$569	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.74	−0.043%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.76	−0.030%	$188K	$393K	20x	as long as short
Phoenix COIN	+0.0122%	1h	196.78	−0.020%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0864%	4h	196.61	−0.106%	$51K	$295K	10x	as long as short