ARB: Bybit → Lighter

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+102%

APR right now

Price gap

+0.142%

between legs

Average spread

+105%

over 24h from our own samples

Over 7 days

+105%

samples: 102

BybitLONG

Bid / ask0.22595 / 0.22596

Mark price0.22595

Volume 24h$128.42M

Open interest$58.31M

Rate-0.0164%

APR-18%

Interval / next payout8h / 12m

Bybit

LighterSHORT

Bid / ask— / —

Mark price0.22628

Volume 24h$7.47M

Open interest$1.36M

Rate+0.0096%

APR+84%

Interval / next payout1h / 12m

Lighter

Spread from our samples

spread over the period: from 0% to 119% APR, 102 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.