Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.062%

Price spread now: MEXC against Lighter−0.065%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.363%−$36 on $10k

Price spread, last 7 days+0.041%+$4 · spread now −0.065%, 7d avg −0.041%

Together, before fees−0.321%+ Points / potential airdropLighter: Season 3 · farm board−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and MEXC is 0.024% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter EURUSD	1.1484	0	get 0.0000% / 1h	9m 39s	$2.2M	$432K	50x
Short	MEXC EUR_USDT	1.1477	−0.0160	pay 0.0080% / 4h	2h 09m	$6.8M	$135K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$33.6
Price spread: −0.065% → −0.041%: −$2.42
Slippage, 4 orders: −$8.55
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 4 bp × 2 orders: −$8
Net: −$52.57
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; MEXC: 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 Lighter live order book, 2 min ago	1.44 bp	2.8 bp −$3	9.6 bp −$96	64.2 bp −$6,425	doesn't fit
Sell MEXC live order book, 3 min ago	0.44 bp	4.4 bp −$4	4.6 bp −$46	29.3 bp −$2,928	108.9 bp −$54.4K

EUR on 18 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
MEXC EUR_USDTshort	−0.0160%	4h	1.1477	−0.065%	$6.8M	$135K	100x
Kraken Futures PF_EURUSD	−0.0132%	1h	1.1472	−0.105%	$3K	—	50x	as long as short
Lighter EURUSDlong	0.0000%	1h	1.1484	long leg	$2.2M	$432K	50x
Bybit EURUSDUSDT	0.0000%	8h	1.1490	+0.049%	$579K	$312K	100x	as long as short
Gate EURUSD_USDT	0.0000%	8h	1.1477	−0.065%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1476	−0.074%	$261K	$25K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1472	−0.109%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1480	−0.039%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1480	−0.039%	$12K	$263K	20x	as long as short
Hibachi EUR/USDT-P	+0.0008%	1h	1.1476	−0.078%	$197K	$8.3M	30x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended EUR-USD	+0.0032%	1h	1.1472	−0.110%	$6.8M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.158%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1504	+0.169%	—	$264K	100x	as long as short
Nado EURUSD-PERP	+0.0058%	1h	1.1475	−0.082%	$467K	$153K	40x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1477	−0.065%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1482	−0.021%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0120%	1h	1.1481	−0.030%	$33K	—	50x	as long as short
tradeXYZ xyz:EUR	+0.0137%	1h	1.1481	−0.030%	$23.3M	$1.6M	50x	as long as short